Fixing
Credit Report Errors
Under
the Fair Credit Reporting Act, you have the right to dispute the accuracy and
comprehensiveness of information in your credit file. Unless the credit
reporting agency believes a dispute to be “frivolous or irrelevant,” it must
reinvestigate and record the current status of the disputed items within a
“reasonable period of time.” A disputed item must be deleted if the credit
reporting agency cannot verify it. The credit reporting agency also must
correct any erroneous information in the report. Any incomplete item must be
completed by the credit reporting agency as well.
In the
instance that your file indicates that you were behind on making payments for
a period of time but neglects to record that you currently are on time with
payments, the current agency must confirm you are now current with these
payments. The credit reporting agency also will have to delete any file shown
to belong to another person. Any report recipient who has checked your file
in the past 6 months must receive a notice of correction from the credit
reporting agency if you request it.
You send
a brief statement to the appropriate credit reporting agency when you feel
there are items in your credit profile that deserve further explanation (such
as an account that was paid late due to the loss of job, military call-up, or
unexpected medical bills). The information will be placed in your credit
profile and will be disclosed each time it is accessed.
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