No one wants their credit report to be wrong. It could affect your ability to take out loans, purchase a home, and achieve other significant life milestones. Unfortunately, many people will open their credit report to see false information or data that does not make sense.
If you spot that your credit reports are wrong, you don’t need to accept it. There are steps you can take to fix it and get your report back in order.
Common Credit Report Mistakes to Look Out For
When you open your credit report, it can be easy to miss possible errors if you are skimming it. So, watch out for these common mistakes next time you review your report.
Such as…
- Incorrect Personal Identification (Name, Birthday, Address, etc.)
- Closed Accounts That are Recorded Open
- Incorrect Payment Dates
- You Are Listed as the Owner of an Account When You Are Just an Authorized User
- Incorrect Balances
- Incorrect Credit Limit
Credit bureaus and businesses input data into your credit report, so when you find that something is wrong, you have the ability to report it back to them to fix it directly.
What to Do If Your Credit Report Is Wrong
With the information on your credit report being supplied by the credit bureaus and the businesses involved, you will need to contact them directly to get your report fixed. Thankfully, they have to fix all errors for free. So, to correct your credit report, you must directly contact the three main credit bureaus and the businesses that reported the incorrect information, show them the inconsistencies, and explain exactly what is wrong. It is wise to do this through a written letter.
How to Contact the Three Main Credit Bureaus
When you report incorrect information to the three main credit bureaus, you are expected to write a letter that states your personal details, the mistake, the accurate information, and copies of the correct and incorrect records.
Here are the mailing addresses of the three main credit bureaus:
Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30348
Experian
P.O. Box 4500
Allen, TX 75013
TransUnion LLC Consumer Dispute Center
P.O. Box 2000
Chester, PA 19016
Additionally, the same type of letter and information should be mailed to the businesses that reported the incorrect information.
Don’t Let Your Case Be Ignored
Once you send this information, the credit bureaus will have 30 days to investigate and correct the data on your report. The businesses will also start their own investigation to change the information.
However, there are instances when credit report cases are drawn on or denied. Don’t let that happen to you. If you have incorrect information on your credit report and it is not being fixed promptly (or at all), you don’t have to accept that.
When credit bureaus or businesses are not considering your case, ensure you are heard by a consumer law attorney. If you have questions or are in this situation, contact the team at Stecklein Robertson Law.