How to fix credit report errors

Updated 3/18/2022

​The best defense is usually a good offense. Everyone should run a credit report at least once a year to make sure they are not a victim of identity theft, fraudulent reporting by debt collectors, or negligence of the credit reporting agencies. If the first time you find out about a mistake on your credit report is upon denial for that house or car loan it may be too late. Fixing errors on your credit report to update your credit score can often prove to be a nightmare. In 2013, a federal jury in Oregon awarded a woman 18.4 million in punitive damages due to incorrect information on her credit report after repeated attempts to fix the problem. 

According to reports the credit reporting agencies receive 10,000 disputes a day. Much like the mortgage modification debacle they simply don’t have the staff to keep up. The result is usually multiple form denial letters hoping to frustrate individuals into giving up. Most consumers do. The few who sue usually get a settlement that the bureaus accept as the cost of doing business. The Fair Credit Reporting Act gives consumers the right and remedies to ensure their credit report is accurate. If there is a problem- what should you do?

1. Send the credit reporting agency a dispute letter identifying any incorrect information.
2. Attach a copy of the report and circle any incorrect information.
3. Attach proof (copies not originals) supporting your position.
4. Demand that the information be corrected.
5. Make a copy of everything you send.
6. Send the letter regular and certified mail.
7. Save the green card when it comes back.
8. Expect a form denial letter requesting additional information.
9. Keep a log and records of all documents for your file.
10. Engage an attorney to sue the credit bureau if they do not fix the issue.

The Credit reporting bureaus must investigate any disputes you make, usually within thirty (30) days. Upon completion of their investigation they must give notify you of the results in writing and provide a free copy of your report if the dispute results in a change. If their investigation results in no action you may ask that a statement of the dispute be included in future reports. The Federal Trade Commission provides a sample dispute letter that is a  good starting point.

If you have medical debt on your credit report it was just announced that major changes will go into effect in 2022 and 2023, that may remove up to 70% of medical debt from credit reports.

Where to write the 3 Major Credit Bureaus:

Equifax
P.O. Box 7404256
Atlanta, GA 30374-0256

Experian
Dispute Department
P.O. Box 9701
Allen, TX 75013

TransUnion
Consumer Solutions
P.O. Box 2000
Chester, PA 19022-2000