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How to Fix Erroneous Information about your Credit Report

By Karen Anderson
Published: Friday, April 9th, 2010

At some point, you may find errors in your credit report that you obtained from one of the credit bureaus. For example, you would receive a credit report that showing up your debt-heavy brother’s information instead of your own.

What you should do? Here are some credit report tips that you can perform to correct errors showing up in your credit report.

According to the Fair Credit Act (FCRA), you have the right to complain errors in your credit reports. The Credit Report Agency (CRA) has the responsibility of correcting any mistakes or imperfect information in your credit report.

The first tip is not to believe in companies saying that they can fix your credit history like they can erase bankruptcies, bad credits, etc. However there are some legal companies that can help you but you can do what they can do for you.

The second credit report tip is to document everything you do. Take note the dates and times of phone calls especially the people you spoke with. Write what they said and what your action and keep copies of everything you send them.

The process of correcting mistakes in your credit report may take you three to six months. Be aggressive and persistent. Remember that you are going to do a difficult task of writing letters explaining the inaccuracies.

The second tip that you can do is to send letters to the CRA to give your side of the story and try to set straight the inaccuracies that have been reported. Tell them the facts and request a correction to your report. It would also help to include a copy of your report with the incorrect information circled, along with copies of any documentation that supports your claim.

The third credit report tip you can do to correct some fault on your credit report is to send letter to your creditor. Just as what you did with the CRA, send copies of the documentation that supports your claim.

The fourth tip is to give the CRA 30 days to investigate your claim. You have the right to call the customer department if you haven’t heard from them exceeds that 30 days. There is usually a toll-free number on the credit report that you can call for assistance. Remember to keep notes of your conversations and any actions that were taken as a result.

The last credit report tip is to re-review your credit report. Find out that you are right and your creditor is wrong. Make sure that that you get a new credit report when you get a written response from the credit agency. The creditor can legally remove anything they have reported whenever they want to. If that doesn’t work, you can still add a statement (of limited length) to go along with your report.

If you are not satisfied and feel that you are not treated fairly, you can contact the agency to which they report. Never be disappointed until you did not receive your true credit report.

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