Common Credit Report Errors and How to Erase Them

Experts tell us that at least one in four credit reports contain errors. The most common credit report errors are simple mistakes like incorrect reporting of payments. Other errors include confusing people that have the same name like John Jones or John Smith and the fastest growing problem of accounts being opened without your approval by someone committing identity theft.

The faster you pinpoint errors and handle up on them the better. Even the smallest errors on your credit report can cost you considerably. Fixing them will likely raise your credit score.

Where do you start? First things first, get your free credit report from http://www.creditscorecowboy.com/ You will have several choices from our credit report menu. Print your credit report and review it carefully. If you see inaccurate information on your credit report you have the right to dispute that information with the credit bureau. By federal law the credit bureaus must investigate all disputes within 30 days and remove any false information.

Did you see errors in your credit report and credit score? If so, get proof of the error. Creditors make mistakes and when they do they are quick to rectify them. Request a letter from the creditor admitting their mistake. This is the ultimate proof that will fix your credit score at the bureau level. Be sure and send the letter to all 3 credit bureaus.

Trans Union Corporation

P.O. Box 34012

Fullerton, CA 92834

Equifax Information Services

P.O. Box 740241

Atlanta, GA 30374-0241

Experian National Consumer Assistance Center

P.O. Box 2002

Allen, TX 75013

Within 30 days you should get a response with additional contact information. At that point simply follow up. Keep in mind that results are not guaranteed. Removing inaccurate information may or may not raise your credit score.

If you suspect identity theft or identity fraud take action immediately. File a police report with your local police department as soon as you can. Notify each credit bureau and address your correspondence to the Fraud Division. Request that they put a fraud alert on your credit report. Close any accounts that were fraudulently opened and follow up in writing to that creditor. Check your credit every few months to make sure no additional fraud has taken place. Soft credit pulls will not lower your score.

For your convenience the following example dispute letter can be copied and pasted to any word processing software.

[today's date here]

Trans Union Corporation Experian and Equifax

Request to Dispute Account Information on My Credit File

I currently received my credit reported and located the following problems of inaccurate reporting.

[credit info detailed here]
[credit info detailed here]
[credit info detailed here]

Under the provisions of the Fair Credit Reporting Act (FCRA) and the timeframe allowed, please re-investigate and delete/correct this information. Please send me the names and the addresses of the persons contacted. I shall assume that thirty days constitutes a "reasonable time" to complete the actions unless you notify me otherwise immediately. It should be understood that failure to verify within this time constitutes non-verification and these items must be promptly deleted according to Section 611(a).

Also according to Section 611(d) of the Fair Credit reporting Act, please send me notification that the items have been deleted. Send an updated copy of my credit report to the below address. According to the provisions of Section 612, there should be no charge for notification of changes on my credit report.

Sincerely,

Full name:

Home Address:

Social Security Number:

DOB:

Be sure to include the name and number of the account in question. Send supporting documentation when available and Sign the letter. We also recommend sending the letter return receipt so you have record of when they actually received it.

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