How to Get an Error Off Your Credit Rating
Request copies of your credit report at least once a year., Check your credit report carefully for errors., Look for duplicate entries., Watch for outdated negative financial information., Notify the credit reporting agency, in writing, if you find...
Step-by-Step Guide
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Step 1: Request copies of your credit report at least once a year.
Monitor your reports more frequently if you are actively working to improve your credit rating, have been a victim of identity theft, or have any other reason to suspect your rating may have changed.
There are 3 major credit reporting agencies:
Experian, Equifax and TransUnion.
It is important to review a copy of your report from each agency.
Although they will often be the same, it is possible that an error could exist on one without showing on the others.
A federal law requires that each of the 3 agencies provide you a copy of your report, free of charge, once every 12 months.
To get your free credit report, fill out a request at the Annual Credit Report website.
You can also call 1-877-322-8228 to request your reports by phone.
To request additional reports during the year, contact the credit reporting agency directly.
The fee for the report varies by agency. -
Step 2: Check your credit report carefully for errors.
If your report includes inaccurate information such as the wrong address, a debt you never held or a lawsuit you were never involved in, you can have this information permanently removed. , It is not uncommon for an account or debt to show up more than once on your report, but each account is only supposed to be accounted for once when determining your rating.
Duplicate entries make it appear like you hold more debt that you do.
Have them removed to clean up your report before applying for credit. , In most cases, even accurate negative credit information must be removed from your report after a period of time.
In the United States, the Fair Credit Reporting Act specifies how long each type of credit violation can remain on your report.
The following information should be removed from your report after 7 years: late payments, defaulted and charged-off accounts, lawsuits and court judgments, property liens, foreclosures and Chapter 13 bankruptcy.
Chapter 7 bankruptcy will remain on your report for 10 years.
Child support owed and outstanding student loans remain on your credit record until the debt is paid. , If the error exists on reports with multiple agencies you will need to notify each agency separately.
Send the letters via certified mail so you have proof of delivery.
Include the following information in your letter:
Your complete name, address, phone number and Social Security number.
Clearly identify each entry on your report that you want removed, and state the reason why the information is eligible for removal.
Include copies (not originals) of any supporting documentation you have, such as a letter stating the balance paid on a debt that is shown as outstanding on your report.
Request that the agency remove or correct the information, send you a copy of your report after the information is changed, and include your letter to them as part of your permanent file.
By U.S. law, the agency must provide a copy of your credit report free of charge, including your credit rating or score, after making changes you requested. , Include copies of any supporting documents and send the letter via certified mail.
Keep copies of all letters and documentation you send, and wait to hear back from the credit reporting agency.
By law, the agency must investigate your request, usually within 30 days.
Review your revised report after the changes have been made to make sure everything is accurate. , -
Step 3: Look for duplicate entries.
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Step 4: Watch for outdated negative financial information.
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Step 5: Notify the credit reporting agency
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Step 6: in writing
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Step 7: if you find an error on your report.
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Step 8: Notify the creditor or other party that reported the inaccurate information
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Step 9: in writing
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Step 10: that you dispute an item they submitted to your credit report.
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Step 11: File a complaint with the Federal Trade Commission if your attempts to resolve the problem are not successful and you are sure that the information is eligible for removal or correction.
Detailed Guide
Monitor your reports more frequently if you are actively working to improve your credit rating, have been a victim of identity theft, or have any other reason to suspect your rating may have changed.
There are 3 major credit reporting agencies:
Experian, Equifax and TransUnion.
It is important to review a copy of your report from each agency.
Although they will often be the same, it is possible that an error could exist on one without showing on the others.
A federal law requires that each of the 3 agencies provide you a copy of your report, free of charge, once every 12 months.
To get your free credit report, fill out a request at the Annual Credit Report website.
You can also call 1-877-322-8228 to request your reports by phone.
To request additional reports during the year, contact the credit reporting agency directly.
The fee for the report varies by agency.
If your report includes inaccurate information such as the wrong address, a debt you never held or a lawsuit you were never involved in, you can have this information permanently removed. , It is not uncommon for an account or debt to show up more than once on your report, but each account is only supposed to be accounted for once when determining your rating.
Duplicate entries make it appear like you hold more debt that you do.
Have them removed to clean up your report before applying for credit. , In most cases, even accurate negative credit information must be removed from your report after a period of time.
In the United States, the Fair Credit Reporting Act specifies how long each type of credit violation can remain on your report.
The following information should be removed from your report after 7 years: late payments, defaulted and charged-off accounts, lawsuits and court judgments, property liens, foreclosures and Chapter 13 bankruptcy.
Chapter 7 bankruptcy will remain on your report for 10 years.
Child support owed and outstanding student loans remain on your credit record until the debt is paid. , If the error exists on reports with multiple agencies you will need to notify each agency separately.
Send the letters via certified mail so you have proof of delivery.
Include the following information in your letter:
Your complete name, address, phone number and Social Security number.
Clearly identify each entry on your report that you want removed, and state the reason why the information is eligible for removal.
Include copies (not originals) of any supporting documentation you have, such as a letter stating the balance paid on a debt that is shown as outstanding on your report.
Request that the agency remove or correct the information, send you a copy of your report after the information is changed, and include your letter to them as part of your permanent file.
By U.S. law, the agency must provide a copy of your credit report free of charge, including your credit rating or score, after making changes you requested. , Include copies of any supporting documents and send the letter via certified mail.
Keep copies of all letters and documentation you send, and wait to hear back from the credit reporting agency.
By law, the agency must investigate your request, usually within 30 days.
Review your revised report after the changes have been made to make sure everything is accurate. ,
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Andrea Taylor
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