Correcting Credit Report Errors
If your clients' credit ratings are suffering because of mistakes on their credit report, it is their right to have them corrected at no cost. Credit bureaus are legally required to investigate disputed information by contacting the creditor that originally supplied them with the information. Keep in mind that the three major credit bureaus — Experian, Equifax and Trans Union — usually have the same information for each consumer file, but not ...always. Your clients need to contact only the bureau that shows an error.
Factual information cannot be removed from a credit report, and the credit bureaus will not automatically remove information from your clients’ reports just because they dispute it. Your clients have to prove that information is wrong with supporting documentation before a credit bureau will correct a report. Under the Fair and Accurate Credit Transaction Act (FACT Act), a credit bureau must remove or modify a disputed item within 30 days if it is found to be inaccurate, incomplete, or unverifiable after a reasonable investigation.
Contact information for the three major U.S. credit bureaus:
P.O. Box 2002
Allen, TX 759013
P.O. Box 740241
Atlanta, GA 30374
P.O. Box 1000
Chester, PA 19022
At www.annualcreditreport.com, your clients can request a free credit report once every 12 months from each of the credit-reporting companies listed above.