Credit Education 101
Website CertifiedPrivacy Protected
Credit Education > Credit Report > Fixing Errors on Your Credit Report

Fixing Errors on Your Credit Report

By Janet Lacey
Published: Friday, September 4th, 2009

A credit report is a very crucial document which shows the credit worthiness and financial credibility of an individual. These reports are used by the lenders, banks, other institution and persons to evaluate your credit history. These reports are made by Credit bureaus which gather all your credit information relating to credit cards, loan account and bank accounts. Credit report also contains all your personal information like name, address, spouse details, present and past employers and others.

For many times,  it happens that there is an error in your credit report which is affecting your credit ranking and in such conditions just calm down and follow a proper procedure to fix such errors. The most important thing in order to correct your credit report is documenting everything that you do. You should keep the copies of all the details which you send to various people for fixing the error in your report.

  1. Identify the errors:
    The first step is to find out all the errors in your report and mark them. If you will not know what all errors are there in your report you will not be able to make complain regarding them.
  2. Letter to the agency:
    The next step is sending a letter to the reporting agency in which you need to mention all the errors which you have encountered. Each and every point should be explained properly and if there is any supporting paperwork with you then its copy should also be send. Request the agencies to look into your matter and correct the errors. The letter to the agency and the supporting paperwork should always be send through a certified mail where you can also get a receipt when it is received. In case if the error is related to wrong recording of personal information like name or address then send a copy of your utility bill or driving license to the agency.
  3. Letter to the creditor who supplied incorrect information
    A letter of dispute should also be send to the creditor or the merchant who provided the incorrect information. The copy of the supporting document as you send to CRA agency should also be send to these creditors.
  4. Wait for the next 30 days to get reply:
    After submitting all your papers wait for the next 30 days as the CRA agency legally has 30 days to investigate your matter. During this time the company will look into your matter and will contact the creditors to verify about the accuracy of the information. After completing the investigation if agency will find that any corrections are needed in the report, they will do the needful and will send you the free copy of the new reports with changes. In case if you do not get any reply from the CRA agency within 30 days then you can call the customer service department for assistance.

Moreover if the investigation by the agency uncovers any type of error then you have the right to ask the agency to send the corrected version of the report to all those people who received the report in the past 6 months.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.