How to Correct
Errors
You have the right, under the Fair Credit Reporting Act, to dispute the completeness and
accuracy of information in your credit file. When a credit reporting agency receives a
dispute, it must reinvestigate and record the current status of the disputed items within
a "reasonable period of time," unless it
believes the dispute is "frivolous or irrelevant." If the credit reporting
agency cannot verify a disputed item, it must delete it. If your report contains erroneous
information, the credit reporting agency must correct it. If an item is incomplete,
the credit reporting agency must complete it.
For example, if your file showed that you were late in making payments on accounts, but
failed to show that you were no longer delinquent, the credit reporting agency must show
that your payments are now current. Or if your file showed an account that belongs only to
another person, the credit reporting agency would have to delete it. Also, at your
request, the credit reporting agency must send a notice of correction to any report
recipient who has checked your file
in the past six months.
For those items in your credit profile which you feel deserve further explanation (such as
an account that was paid late due to the loss of job, military call-up, or unexpected
medical bills), you may send a brief statement to the appropriate
credit reporting agency. The information will be placed on your credit profile and will be
disclosed each time your credit profile is accessed. |
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