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How to rectify your credit report

By Janet Lacey
Published: Saturday, October 17th, 2009

It is very common to find mistakes or inaccuracies on a credit report. Most of these errors are bureaucratic errors. They can be fixed very easily. These errors can ruin your credit score and affect any future credits you apply for.

The basic step is very simple and easy. You have to first get a copy of the credit report and circle every negative entry or an entry you do not agree with. Mail this report back to the credit report agency. The address is usually available on the back of the credit report. Send in an explanation for every entry stating why you dispute it. Request a through investigation into the matter. Request them to correct the entry as soon as possible too. If you have any documents such as receipts proving your claim, make a photocopy and send them along. If there is more than one document code them according to the entries and send them. However, do not send any originals. These letters and documents must be sent via certified mail. This way, you get a receipt guaranteeing you that the mail was received by some one at the agency. You can also send a letter to the creditor whose claim you are disputing. It is a good idea to send the letter to the creditor a few days before you send the letter to the agency. This gives the creditor a chance to conduct a separate investigation into the matter. When you are sending the letter to the creditor, make sure you get the address right. The address is usually different from the billing address.

Personal information might need some correction too. It is not uncommon to find mistakes with spelling or addresses. You will need to correct this immediately. You will need to provide proof. Get a document with the right address or the right spelling. These documents might be your driver’s license or a utility bill with the right address. One the credit report agency receives your letter, they will alter your personal information immediately. For claims on your financial information, an investigation will commence immediately. The agency will contact your creditor and receipts will be looked at. The right decision will be taken. If your claim proves to be true you are entitled to a free copy of the corrected credit report. If you inform the creditor before the agency, there are chances that the creditor might see his error and correct it even before the agency starts the investigation. In this case, the investigation goes much faster and smoother. You will have your credit history corrected with minimum hassle. Filing disputes online is very easy now. Online credit reports are available today. There will be special links available which allow you to raise a dispute on any entry. There might even be an option for special comments by you. However, most of the websites only have a multiple option list, from which you have to check your option. Once this is done, the credit agency should send the contact information of a person, whom you can contact to dispute the issue further.

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