Have you ever found a mistake on one of your credit reports? If so, you’re familiar with the feelings of anger and injustice that come with discovering you’re being accused of something that isn’t true. Translating your motivation to fix the false information into a successful dispute takes more than just a sense of unfairness though—it requires specific steps to remedy the problem. Here’s what you need to get on the “fact track.”
Get updated credit reports
To start with, there are many different kinds and sources of credit reports. While there are three main credit bureaus that compile credit files—Equifax, Experian, and TransUnion—there are many different formats in which the information they record gets reported. To effectively and efficiently complete disputes with the credit bureaus, you’ll need copies of the consumer reports the credit bureaus produce. Without these reports, your dispute will be very difficult—if not impossible.
You are entitled to the reports free once per year according to federal law. You can get them by calling 877.322.8228 or by visiting www.annualcreditreport.com.
Gather all incorrect information
There can be many reasons for a mistake on your report. A common one is mistaken identity: Incorrect information on one of your credit reports may be due to having a name, address, or Social Security number that is similar to another person. For this reason, it’s important to make a comprehensive list of all mistakes on your credit reports, even if your first look only turned up a single error. The list should include wrong names, addresses, employers, and birth dates.
Know your report identifier
When you contact the credit bureaus to dispute what you believe to be a mistake in your credit file, the bureaus may ask that you provide a report number or code so they can refer to the right credit report. You’ll need reports and report identifiers from each of the credit bureaus to ensure that the problem information is removed from all of your reports.
Get dispute website/phone numbers
While you do have the right to dispute credit file errors in writing, this method generally takes much longer than the online or phone options. Below is contact information for each of the three major bureaus.
Equifax
www.equifax.com
Phone number for disputes provided on your credit report
Experian
www.experian.com
Phone number for disputes provided on your credit report
TransUnion
www.transunion.com
800-916-8800
Keep track of progress
Ideally, your disputes will be processed quickly and you’ll receive a response promptly, but this isn’t always the case. Keep track of the dispute confirmation codes you are given by the credit bureaus. If entering your dispute online, print out the confirmation page after your dispute has been completed. With a phone dispute, have a pad and pen handy to record the confirmation code, the time you called, and the names of any customer service representatives you spoke with.
Stay organized
Start a dispute folder with copies of any supporting documents you have to bolster your case, such as credit card statements, receipts for debts paid, paperwork for dismissed judgments, etc. If your initial online or phone dispute fails, you can always follow up with a dispute in writing that includes your supporting documents. Also include notes or paperwork regarding any previous dispute attempts. Lastly, include in your folder confirmation from the credit bureaus when an item is ultimately removed your reports.
Understand your options
You also have the right to dispute false data with the company that originated it—whether it is a financial institution, mortgage servicer, county courthouse, or other entity. While waiting to hear back on your disputes, contact the information originator to get account documentation. Should you need to file a follow-up dispute in writing, you’ll have even more evidence at your disposal.
There’s never any guarantee a dispute will be resolved as quickly as you’d like. However, doing a little prep work can make it easier to navigate any twists and turns that arise during the process.
