Has an error crept onto your credit report? Don't panic. Many people face this issue, and there are steps you can take to correct it. Here's a guide on how to dispute an error on your credit report.
1. Review Your Credit Report Regularly
The first step is to be proactive. Review your credit report from all three major credit bureaus (Experian, Equifax, and TransUnion) at least once a year. You can get a free copy from AnnualCreditReport.com.
2. Identify the Error
Once you find an error, carefully note the details:
- Account number: This is essential for identification.
- Creditor: The name of the company reporting the error.
- Incorrect information: What is wrong with the information? (e.g., incorrect balance, late payment, closed account)
3. Contact the Credit Bureau
Each credit bureau has a dispute process. You can typically dispute online, by mail, or by phone. Be sure to include all the relevant information you gathered. As noted, we strongly recommend doing your dispute via the mail.
4. Provide Supporting Documentation
To strengthen your dispute, gather any supporting documentation you have. This might include:
- Canceled checks or receipts
- Payment history statements
- Court documents
- Letters from creditors
5. Follow Up
After submitting your dispute, follow up to ensure it's being processed. If you haven't heard back within 30 days, please contact us to discuss your situation.
What Happens Next?
The credit bureau will investigate the dispute. If they find the error, they'll correct it and send you a notice. If they can't verify the error, they'll send you a notice explaining their decision.
Important Note: If the credit bureau determines the information is accurate, you can add a statement to your credit report explaining your side of the story.
Remember: Disputing an error takes time and patience. But it's a crucial step in protecting your credit and financial reputation. By following these steps, you can effectively resolve credit report errors and maintain a healthy financial standing.
Attorney Nathan DeLadurantey offers free consultations to explain your legal rights in Wisconsin. Free consultations can be scheduled online.
