Correcting Credit Report Errors

By
Mortgage and Lending with Diamond Residential Mortgage Corporation 031.0016549 NMLS#219299

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:

Experian
P.O. Box 2002
Allen, TX 759013
(888) 397-3742
www.experian.com
Equifax
P.O. Box 740241
Atlanta, GA 30374
(800) 685-1111
www.equifax.com
Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 888-4213
www.transunion.com

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.

 

 

 

Posted by

 

 

"Wealth is what you accumulate, not what you spend." 

 
With Respect; 

William Piotrowski

Mortgage Originator  
Originator License # 031.0016549
N.M.L.S #219299 

 

582 Oakwood Ave

Lake Forest IL 60045

 

Cell.(630).881.8655

E.fax (888).845.2691

 

State License NMLS FaceBook  Truila

 

 

Comments (1)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I believe we all can do better on our credit scores.

Jun 29, 2016 11:04 PM