How to fix credit report errors

A common question consumers ask is how to fix credit report errors? The first step is pull copies of your credit reports from the three credit bureaus: Equifax, Experian and Trans Union. You can obtain a free copy of your credit reports from annualcreditreport.com. Once you have copies of your credit reports you will need to gather all materials and documents that show the credit reporting error. You can be as creative as you want with this but it is imperative to have something in writing to show the account is inaccurate. If you do not have any thing then you can call the company who is reporting on your credit and ask for your file to see what they will give you. Perhaps they have something showing the credit reporting error.

Once you have the credit report error identified and the proof of the error then you are all set. The first step is to draft a letter to mail off to the credit bureaus. The letter needs to explain how the account is an error and then attach the proof of the error to the dispute letter. Make sure to save a copy of everything you are mailing off. Most people at this stage think they need a credit repair company, which nothing could be further from the truth. Credit repair companies send frivolous dispute letters to the bureaus and it can actually hurt your chances of getting an error fixed. So make sure you draft your dispute letter on your own.

The credit bureaus have thirty days to respond to your dispute. If they fix the credit report error then the bureaus did what the law told them to do. Most likely though, the bureaus will mail you back a boilerplate letter saying that they have looked into your dispute and verified it is accurate. You retain the option of sending off another dispute letter or you can hire an attorney to file suit.

One important item to help your case is to keep track of all the adverse credit action that you have suffered because of this credit report error. This includes, but is not limited to, being denied credit, having your credit lines decrease, having your insurance rates increase, having your interest rates increase or any other financial damage you can think of. The more damage to your credit file and the stronger the proof you have of the inaccuracy the better the case. If you have any questions or need a free credit consultation feel free to give us a call at Cook Law.