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FAQ: How Do I Repair My Credit
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Equifax
P.O. Box 740241 Atlanta, GA 30374 (800) 685-1111 |
Experian (formerly TRW)
P.O. Box 949 Allen, TX 75013 (800) 682-7654 |
Trans Union
P.O. Box 390 Springfield, PA 19064 (800) 916-8800 |
Correcting Errors
Under the FCRA, both the CRA and the organization that provided the information to the CRA, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the CRA and the information provider.
First, tell the CRA in writing what information you believe is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled.
You may write a letter using the example below changed to fit your situation. Mail your letter by certified mail, return receipt requested, so you can document what the CRA received. Keep copies of your dispute letter and enclosures.
CRAs must reinvestigate the items in question—usually within 30 days—unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA.
If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file.
Errors Must be Corrected
Disputed information that cannot be verified must be deleted from your file. If your report contains erroneous information, the CRA must correct it. If an item is incomplete, the CRA must complete it. For example, if your file showed that you were late making payments, but failed to show that you were no longer delinquent, the CRA must show that you are current.
If your file shows an account that belongs only to another person, the CRA must delete it. When the reinvestigation is complete, the CRA must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the CRA cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the CRA gives you a written notice that includes the name, address, and phone number of the provider.
Also, if you request, the CRA must send notices of corrections to anyone who received your report in the past six months. Job applicants can have a corrected copy of their report sent to anyone who received a copy during the past two years for employment purposes.
If a reinvestigation does not resolve your dispute, ask the CRA to include your statement of the dispute in your file and in future reports.
Second, in addition to writing to the CRA, tell the creditor or other information provider in writing that you dispute an item.
Again, include copies (not originals) of documents that support your position. Many providers specify an address for disputes. If the provider then reports the item to any CRA, it must include a notice of your dispute. In addition, if you are correct – that is, if the disputed information is not accurate – the information provider may not use it again.
Accurate Negative Information
When negative information in your report is accurate, only the passage of time can assure its removal. Accurate negative information can generally stay on your report for seven years. There are certain exceptions:
Adding Accounts
Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to CRAs: Some travel, entertainment, gasoline card companies, local retailers and credit unions are among those creditors that do not.
If you have been told you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that do not appear in your credit file, ask the CRA to add this information to future reports. Although they are not required to do so, many CRAs will add verifiable accounts for a fee.
You should, however, understand that if these creditors do not report to the CRA on a regular basis, these added items will not be updated in your file.
More Tips
If you want to contest a credit report, bill or credit denial, contact the appropriate company in writing and send it "return receipt requested." When you contest a billing error, include your name, account number, the dollar amount in question, and the reason you believe the bill is wrong.
If in doubt, request written verification of a debt.
Keep all your original documents, especially receipts, sales slips, and billing statements. You will need them if you dispute a credit bill or report. Send copies only.
It may take more than one letter to correct problems.
Be skeptical of businesses or “Credit Repair Companies” that offer instant solutions to credit problems.
Be persistent. Resolving credit problems can take time and effort. There is nothing that a credit repair company can do for you – for a fee – that you cannot do for yourself for little or no cost.
After Bankruptcy
If you have taken bankruptcy, you may want to begin to attempt to clear your report. Many agencies will show your debt with them “cancelled” after discharge. You may want to “challenge” the accuracy of each debt a few months after you are discharged. And if that doesn’t work, try again in six months or so.
You may want to selectively reaffirm one or more small debts so at least one creditor will be able to vouch for you. And you may want to borrow small amounts even though you don’t need the money to reestablish your credit.
Sample Dispute Letter
This Sample Dispute Letter should be sent to CRAs as discussed above to attempt to correct inaccurate or incomplete information in your credit file:
Under the FCRA, both the CRA and the organization that provided the information to the CRA, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the CRA and the information provider.
First, tell the CRA in writing what information you believe is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled.
You may write a letter using the example below changed to fit your situation. Mail your letter by certified mail, return receipt requested, so you can document what the CRA received. Keep copies of your dispute letter and enclosures.
CRAs must reinvestigate the items in question—usually within 30 days—unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA.
If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file.
Errors Must be Corrected
Disputed information that cannot be verified must be deleted from your file. If your report contains erroneous information, the CRA must correct it. If an item is incomplete, the CRA must complete it. For example, if your file showed that you were late making payments, but failed to show that you were no longer delinquent, the CRA must show that you are current.
If your file shows an account that belongs only to another person, the CRA must delete it. When the reinvestigation is complete, the CRA must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the CRA cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the CRA gives you a written notice that includes the name, address, and phone number of the provider.
Also, if you request, the CRA must send notices of corrections to anyone who received your report in the past six months. Job applicants can have a corrected copy of their report sent to anyone who received a copy during the past two years for employment purposes.
If a reinvestigation does not resolve your dispute, ask the CRA to include your statement of the dispute in your file and in future reports.
Second, in addition to writing to the CRA, tell the creditor or other information provider in writing that you dispute an item.
Again, include copies (not originals) of documents that support your position. Many providers specify an address for disputes. If the provider then reports the item to any CRA, it must include a notice of your dispute. In addition, if you are correct – that is, if the disputed information is not accurate – the information provider may not use it again.
Accurate Negative Information
When negative information in your report is accurate, only the passage of time can assure its removal. Accurate negative information can generally stay on your report for seven years. There are certain exceptions:
- Bankruptcy information may be reported for 10 years.
- Credit information reported in response to an application for a job with a salary of more than $75,000 has no time limit.
- Credit information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.
- Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
Adding Accounts
Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to CRAs: Some travel, entertainment, gasoline card companies, local retailers and credit unions are among those creditors that do not.
If you have been told you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that do not appear in your credit file, ask the CRA to add this information to future reports. Although they are not required to do so, many CRAs will add verifiable accounts for a fee.
You should, however, understand that if these creditors do not report to the CRA on a regular basis, these added items will not be updated in your file.
More Tips
If you want to contest a credit report, bill or credit denial, contact the appropriate company in writing and send it "return receipt requested." When you contest a billing error, include your name, account number, the dollar amount in question, and the reason you believe the bill is wrong.
If in doubt, request written verification of a debt.
Keep all your original documents, especially receipts, sales slips, and billing statements. You will need them if you dispute a credit bill or report. Send copies only.
It may take more than one letter to correct problems.
Be skeptical of businesses or “Credit Repair Companies” that offer instant solutions to credit problems.
Be persistent. Resolving credit problems can take time and effort. There is nothing that a credit repair company can do for you – for a fee – that you cannot do for yourself for little or no cost.
After Bankruptcy
If you have taken bankruptcy, you may want to begin to attempt to clear your report. Many agencies will show your debt with them “cancelled” after discharge. You may want to “challenge” the accuracy of each debt a few months after you are discharged. And if that doesn’t work, try again in six months or so.
You may want to selectively reaffirm one or more small debts so at least one creditor will be able to vouch for you. And you may want to borrow small amounts even though you don’t need the money to reestablish your credit.
Sample Dispute Letter
This Sample Dispute Letter should be sent to CRAs as discussed above to attempt to correct inaccurate or incomplete information in your credit file:
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