A 2004 study by the U.S. PIRG -- federation
of state Public Interest Research Groups -- found that one in four adults have
serious errors on their credit reports. Not small errors either. The Fair Credit
Reporting Act requires credit-reporting agencies to fix these mistakes, but it
will take some work on your part. Use this work sheet to assist you.
Checklist
Order
a free copy of your credit report from each of the three reporting agencies in
one of three ways:
Complete
the form on the back of the "Annual Credit Report Request" brochure, available from the FTC, and mail it to: Annual
Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
•
If
it's been more than 90 days since you requested your free report, you may have
to buy one from each agency: Experian TransUnion Equifax
Tell
the credit reporting agency about the error.
•
You
can initiate an investigation online on the Web sites for all three credit reporting
agencies.
•
If
you use the online dispute feature
on the credit-reporting agency
Web site, follow that by sending
a letter certified mail with return
receipt requested.
•
Include
in the letter:
Your name and address.
A list of the incorrect information,
explain why and request that it
be removed.
Copies of your credit report with
the erroneous item highlighted
or circled.
•
Each
agency has a phone number listed for disputes; if you call, keep copious, detailed
notes and follow the phone call with a letter.
Tell
the creditor about the mistake.
•
Send
a letter to the creditor notifying
it that you dispute the information
that the creditor has reported.
•
Explain
what information is incorrect
and ask the company to stop reporting
it.
•
Include
copies of information that supports your case.
