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Credit Reporting: Credit Reporting Errors |
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More Advice Team |
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I am trying to dispute some errors on my credit report. I tried to mail a letter to the bureau, but it did not work. What else can I try? -Eric
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Eric,
You can also dispute inaccurate items with the source of the information. You will need to do this in writing. The creditors may not then report the information to the credit reporting agencies without including a notice of your dispute. In addition, once you have notified the source of the error in writing, it may not continue to report the information if it is, in fact, an error.
The Advice Team
PS- There are three major credit bureaus (Equifax, Experian and TransUnion), you will want to check all three for accuracy. |
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I had a old account that went into collection eight years ago. It stayed in my credit report for seven years and was then taken off. Now I just received a call for the same charge off from a collection agency. Can they put that in my credit report again? -Rafael
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Rafael,
No, this item should not reappear.
The federal "Fair Credit Reporting Act" (FCRA) states derogatory information can remain on your credit bureau file for seven years from the date of last activity on the account. This date generally is the date your creditors "charged off" the debt as uncollectible. Even if your account is transferred to another company, the seven year time frame does not re-start. The account must still be permanently removed from your file after the initial seven years.
The Advice Team |
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I have an account that's on my credit report for over seven years and my question is why isn't off my credit report or removed from my credit report? It says that it's revolving.
-Rodriquez |
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Rodriquez,
If the information is not derogatory, it is possible for it to appear for longer than seven years. This should actually help your credit score; a lengthy credit history is a positive factor.
The Advice Team |
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I’m in the process of buying my first house and was shocked to find that my credit report was not up to allowing me a favorable rating. I have copies of my credit report and there is a credit cards listed that I do not nor have ever owned or used. How do I go about cleaning this up? -Peggy |
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Peggy,
You need to write to the credit reporting agencies (CRAs) disputing the item. When the CRAs receive your letter, the CRAs must investigate the items in dispute (usually within 30 days) by presenting the information you submit to the CRAs, to the creditors. The creditor must review your evidence and report its findings to the CRAs. The CRAs must give you a written report of its investigation, and a copy of your report if the report results in a change. If the investigation by the creditor does not resolve the dispute, you may add a statement, in 100 words or less, to your file giving your version of the dispute. The CRAs must normally include a summary of your statement in future reports.
Good luck,
Susan |
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My husband and I want to buy a house in the near future. My mother-in-law told us to check our credit reports for errors first. How can we get free copies of our credit reports? -Karen |
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Karen,
Your mother-in-law gave you some great advice.
To obtain your annual free credit reports under the FACT Act, visit www.annualcreditreport.com. You can also call 877-322-8228.
Good luck,
The Advice Team |
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One of my credit reports has an error. I have a collection account from 2000, but they keep updating the information so it will remain longer in my file. I sent a complaint letter to the collector but nothing is happening. Can I sue them? -Mou
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Dear Mou,
The Fair Credit Reporting Act (FCRA) does permit a consumer to seek damages in state or federal court for willful or negligent noncompliance of the FCRA. To proceed with such a suit, you will need to seek the advice of a lawyer.
Good Luck,
The Advice Team
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