Correcting Errors on Your Credit Report

Know your rights before you start: The Fair Credit Reporting Act (FCRA), 15 USC Sections 1681 through 1681t, protects you against credit abuse that might result in an unfair description of your creditworthiness.

Knowing these six basic rights is essential if you are to successfully erase the negative marks on your credit report and regain a good credit status:

#1: You are allowed to challenge the accuracy of your credit report at any time.

#2: The credit bureaus must "reinvestigate" anything you challenge.

#3: The credit bureaus must reinvestigate within a reasonable amount of time. The Federal Trade Commission defines reasonable as within 30 days unless there is some good reason for the delay. For example, a delay might be caused by the large volume of inquires to the bureau at a particular time.

#4: If the credit bureau cannot confirm the adverse information or finds any error, it must promptly delete that erroneous information from its files.

#5: If the bureau cannot or does not confirm the information you have challenged within a reasonable time period, it also must delete that information from your files.

#6: If a creditor verifies the information and the bureau responds in a timely manner, the negative marks must remain on your record. But, if you maintain that the information is in dispute, you have the right to submit a Consumer Statement of your view of the problem. In other words, if you as a credit consumer dispute the accuracy of certain information in your report and receive no satisfaction from the bureau or the creditor, then the credit bureau is required by law to attach your explanation to every copy of the report it sends out.

If you ask for assistance, the bureau will help you write your statement of 100 words. If you need assistance writing these letters, please call us.