Credit Repair - Credit Reporting Companies |
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Credit Repair  Articles Credit Reporting Companies |
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Credit Repair: Do It Yourself Credit Repair May Be Your Best Solution(Page 3 of 8)
STEP ONE: What to Tell the Consumer Credit Reporting CompaniesTell the consumer credit reporting company, in writing, what information you think is inaccurate in your credit report. 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 credit report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your credit report with the items in question circled. Your letter may look something like the one on page 8 of this article series. Send your letter to the credit reporting company by certified mail, “return receipt requested,” so you can document what the consumer credit reporting company received. Keep copies of your credit report dispute letter and enclosures. Consumer credit reporting companies must investigate the credit report items in question – usually within 30 days – unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the credit report inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer credit reporting company, it must investigate, review the relevant information, and report the results back to the consumer credit reporting company. If the information provider finds the disputed credit report information is inaccurate, it must notify all three nationwide consumer credit reporting companies so they can correct the information in your credit report file. When the investigation is complete, the consumer credit reporting company must give you the results in writing and a free copy of your credit report if the dispute results in a change. If an item is changed or deleted, the consumer credit reporting company cannot put the disputed information back in your credit report file unless the information provider verifies that it is accurate and complete. The consumer credit reporting company also must send you written notice that includes the name, address, and phone number of the information provider. If you request, the consumer credit reporting company must send notices of any credit report correction to anyone who received your credit report in the past six months. You can have a corrected copy of your credit report sent to anyone who received a copy of your credit report during the past two years for employment purposes. If an investigation doesn’t resolve your dispute with the consumer credit reporting company, you can ask that a statement of the credit report dispute be included in your credit report file and in future credit reports. You also can ask the consumer credit reporting company to provide your statement to anyone who received a copy of your credit report in the recent past. You can expect to pay a fee for this service.
Next: STEP TWO: What to Tell the Creditor or Other Information Provider -->
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