Your credit report is expected to be a representation of you and your lifestyle. If you find incorrect information on it, you have full right to take the next steps to get it corrected and ensure that you are appropriately represented in the eyes of future banks, real estate agents, and employers. So, if you have recently found that your credit report is housing incorrect data, here are your next steps to get it corrected.
Common Reasons Your Credit Report Is Wrong
In order to fully go about the process of correcting your credit report, you must understand what could have gone wrong in the first place. There are many occurrences to watch out for.
- Accounts with an incorrect balance or credit limit are listed.
- Accounts might appear multiple times.
- Debt is listed more than once or from the incorrect account.
- Closed accounts are reported as open.
- Your personal information, name, DOB, and address are listed incorrectly.
- There are accounts listed that you did not open.
- There are debts listed that you are not responsible for.
You might be surprised to learn that many credit reporting errors arise from the credit companies themselves putting in information wrong. However, there could be instances of identity theft in there if you find debts or accounts that you did not create.
Your Guide on What to Do When Your Credit Report Is Wrong
There are steps you can take to fix your credit report and get your report properly representing you once again.
1. Dispute the Report to the Main Credit Reporting Companies
When finding an error in your report, your first step is to dispute it to the three main credit bureaus. This should be Experian, TransUnion, and Equifax. When you report the error, you should include copies of the report itself, a written explanation of what you believe is wrong, and proof to support your claim. You can do this by phone, mail, or online.
If you choose to do it online, you can find that information here:
2. Dispute the Report to the Company Who Sent It In
Then, use the information and data you compiled in the last step to report it to the company who put in the false information and initiated the issue. If you see that X debt collector reported the same debt twice or Y credit card company got your address wrong, reach out to them specifically with the information so they can move forward with adjusting it and getting it fixed for you.
3. If Necessary, Take the Steps to Report Identity Theft
If you notice that the error in your credit report is linked to identity theft, the next step is to go through with the reporting process. All the information you have compiled is perfect as you can take that, along with proof of your identification, and report it to the FTC, IdentityTheft.Gov, and your local police department. The FTC will then send you the information necessary to move forward.
4. Keep an Eye Out
If your error was made by a credit card company that inputted information incorrectly, keep an eye on your report to ensure it gets fixed. However, if your report was wrong because of identity theft, you will want to keep an eye on your other accounts and personal information, freezing or closing any accounts you might think are at risk. Once reported, you will want to watch to ensure everything is eventually back to normal. If that does not seem to happen, you have the right to find an attorney who can help you take the next steps to get your credit report back to how it should be.
If you have questions or are at the stage where you need an attorney to take the next steps with you, contact the team at Stecklein Robertson Law.