Disputing credit reports: What you need to know
By APWednesday, March 31, 2010
Disputing credit reports: What you need to know
You’re entitled to a free credit report every year from each of the three credit reporting agencies, Equifax, Experian and TransUnion. You can get copies at www.annualcreditreport.com.
If you believe there’s an error in a report, here’s what you should know about disputes.
—You can submit disputes online at www.equifax.com, www.experian.com, www.transunion.com.
—If you want to submit a dispute by mail or phone, the address or number should be on your credit report.
—Once a dispute is received, the credit bureau contacts the lender that provided the information. The lender in turn must look into the matter.
—If a fix is ultimately made, the lender must alert all three credit bureaus of the error.
—Credit bureaus are required to respond to disputes within 30 days of receiving them.
—When the investigation is complete, the credit bureau must provide written results and a free copy of your report if the dispute results in a change. This report does not count as your free annual report.
—You can also contact lenders directly and ask that they update incorrect information with credit bureaus.
