If you have items that are showing up on your credit report that you know you have already paid, request that these items be removed by the credit bureau. They are obligated to rectify this within 30 to 45 days.
Follow this procedure to correct errors on your credit report:
- Make a copy of the report and circle the items you are questioning. Keep your original copy for your own records.
- If there are items on your credit report less than two years old, if possible, send in your payment and mark the back of the check with the following notation: "Accepting this check is evidence that the transaction is complete and this charge will be deleted from my credit record." If necessary, the cancelled check will be proof that the item should be promptly removed from your credit report if it interferes with the closing of your loan.
- Prepare a letter to the CRA that provided you with the report in question, and request to have the erroneous item(s) removed. If you have proof of payment for an item in question, include a copy of that documentation.
- Prepare a letter to the creditor reporting the problem, especially if you are a victim of fraud or identity theft. Inform the creditor that you are disputing an error reported to the CRA, state why the claim is inaccurate, and include any relevant documentation to prove your point.
- Send your correspondence via certified mail.
You should receive a response from the CRA within 30 to 45 days. If the error has been corrected, they will send you a fresh copy of your credit report at no charge to show you that the item has been removed. They will also send a corrected report to any entity that received a report that contained errors within the last six months. If you cannot have a disputed item removed, you have the right to include your side of the story on the credit report. Your statement should be a concise explanation (100 words or less) as to why you are challenging the item in question. From that point on, this notation will be included in your credit report as long as the item in question remains on your report.
Local Credit Resource:
Genesis Credit Corp.
Currently Serving: Greater Lafayette, West Lafayette,Purdue, Tippecanoe County, Indiana and the surrounding communities. Our Services are Private and Confidential. Your Information is Safe With Us.