Absolutely not! You have the right to dispute any inaccurate or incomplete information on your credit report, and it’s actually encouraged. In fact, it’s the only way to get incorrect information fixed and ensure your credit report reflects your true financial situation.
Disputing errors on your credit report is a crucial step in protecting your financial health and ensuring you’re not penalized for inaccurate information.
Here’s why it’s important to dispute errors:
- Improves your credit score: Inaccurate information can negatively impact your credit score, making it harder to qualify for loans, credit cards, and other financial products with favorable terms. Disputing and correcting errors can help boost your credit score and open doors to better financial opportunities.
- Saves you money: Inaccurate information can lead to higher interest rates on loans and credit cards, costing you more money in the long run. By disputing and correcting errors, you can potentially save thousands of dollars over time.
- Protects you from identity theft: Inaccurate information could be a sign of identity theft, where someone is using your personal information to open accounts or make purchases in your name. Disputing errors can help identify and resolve identity theft issues.
What can you dispute on your credit report?
You can dispute any inaccurate or incomplete information on your credit report, including:
- Personal information: Name, address, Social Security number, date of birth.
- Account information: Account numbers, credit limits, balances, payment history, open/closed status.
- Collection accounts: Dates, amounts, creditor information.
- Public records: Bankruptcies, judgments, liens.
- Inquiries: Hard inquiries, soft inquiries.
What can’t you dispute on your credit report?
There are some things you can’t dispute on your credit report, such as:
- Accurate information: Even if it’s negative, accurate information cannot be disputed.
- Information that is more than seven years old: Most negative information falls off your credit report after seven years.
- Bankruptcies: Bankruptcies can stay on your credit report for up to ten years.
- Criminal records: Criminal records may appear on your credit report depending on the state you live in.
How to dispute errors on your credit report:
- Contact the credit bureau: You can dispute errors online, by mail, or by phone. Each credit bureau has its own dispute process.
- Provide evidence: When you dispute an error, be sure to provide evidence to support your claim. This could include copies of bills, statements, or other documentation.
- Follow up: The credit bureau will investigate your dispute and respond within 30 days. If you don’t agree with the outcome, you can file a complaint with the Consumer Financial Protection Bureau (CFPB).
Here are some additional resources that you may find helpful:
- Experian: https://www.experian.com/blogs/ask-experian/what-cant-you-dispute-on-your-credit-report/
- Equifax: https://www.equifax.com/personal/disputes/
- TransUnion: https://www.transunion.com/credit-help/disputes
- Federal Trade Commission (FTC): https://consumer.ftc.gov/articles/disputing-errors-your-credit-reports
Remember, disputing errors on your credit report is a free and easy process. Don’t hesitate to take action if you see something that doesn’t look right. It could make a big difference in your financial future.
Dispute mistakes with the credit bureaus
You should dispute with each credit bureau that has the mistake. Write down your concerns and include copies of any supporting documentation, the credit bureau’s dispute form (if available), and keep track of everything you send. You can use the address listed on your credit report or the dispute address provided by a credit bureau to mail in your dispute.
- Use this sample letter to help write your own.
- In your letter, you should request that the credit bureau delete or update any erroneous or lacking information. Provide your full name, the address of each error you would like fixed, the reason copies (not originals) of the supporting documentation are needed to support your request for a copy of your report, and a copy of the report with the errors circled.
- To ensure you have a proof that the credit bureau received your letter, send it via certified mail and pay for a “return receipt.”
- Keep copies of everything you sent. The credit bureaus Experian (888) 397-3742, Transunion (800) 916-8800, and Equifax (866) 349-5191 also accept disputes over the phone or online.
- The credit bureau has 30 days from the date of your dispute to look into it.
- The credit bureau will cease its investigation if it deems your request to be “frivolous” or “irrelevant,” but it must notify you and provide an explanation. For example, you might need to provide them with more proof to back up your request.
- Additionally, the credit bureau will send the business that reported the information all of the supporting documentation you provided. After that, the company needs to look into it and let the credit bureau know what it finds. The company is required to notify all three national credit bureaus if it discovers that the information it reported was false so that they can update the data in your file.
- If the dispute results in a change to your credit report, the credit bureau is required to provide you with a written copy of the results. This doesn’t count as your free annual credit report.
- The credit bureau is required to notify anyone who obtained a copy of your report for employment purposes within the last two years of the correction(s), upon request. This notice must be sent to anyone who obtained a copy of your report within the last six months.
- You have the right to request that a dispute statement be added to your file and all upcoming reports. Additionally, you can request that the credit bureau send a copy of your statement to anyone who has recently obtained a copy of your report; however, you should anticipate paying a fee to the credit bureau for this service.
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Your credit report’s contents may have an impact on your ability to purchase goods, acquire insurance, rent or buy a home, and have more purchasing power. Businesses use the information in your credit report that credit bureaus sell to them when determining whether to give you credit, lend you money, give you insurance, or rent a house. Some employers use credit reports in hiring decisions. The strength of your credit history also affects how much you will have to pay to borrow money. You’ll want to be sure the information in your report is both accurate and complete. Find out by regularly checking your credit report. Once every 12 months, you have the right to obtain free copies of your credit report from each of the three major credit bureaus. (That’s Experian, Equifax, and TransUnion. ) To get your free credit reports, go to AnnualCreditReport. com.
In addition, the three bureaus have permanently extended a program that lets you check your credit report from each once a week for free at AnnualCreditReport.com. Also, anyone in the U.S. can get 6 free credit reports per year through 2026 by visiting the Equifax website or by calling 1-866-349-5191. That’s in addition to the one free Equifax report (plus your Experian and TransUnion reports) you can get at AnnualCreditReport.com.
Checking your credit report is also a good way to spot identity theft. That occurs when someone utilizes your personal data without your consent, including your name, address, bank account or credit card number, Social Security number, and account numbers for health insurance. They could use your credit cards to make purchases, obtain additional credit cards in your name, open gas, electric, or phone accounts, steal your tax refund, or obtain medical care using your health insurance.
Then, when they don’t pay the bills, the account is reported on your credit report as unpaid and delinquent. Inaccurate information like that could end up on your credit report and affect your ability to get credit, insurance, or even a job. If you think someone might be using your personal information, go to IdentityTheft.gov to report it and get a personalized recovery plan.
Do THIS Prior To Disputing Your Credit Report Or You Are WASTING Your TIME
FAQ
What happens if you falsely dispute a credit report?
Is it illegal to dispute accurate information on your credit report?
What happens after you dispute something on your credit report?
Is there a downside to disputing credit report?
Can I dispute inaccurate information on my credit report?
Federal law allows you to dispute inaccurate information on your credit report. There is no fee for filing a dispute. You may submit your dispute to the business who provided the information to the credit reporting company and/or to the credit reporting company who included the information on your credit report.
Does disputing a credit report affect your credit score?
Disputing credit report inaccuracies doesn’t affect your credit, but some changes made in response to disputes can help your credit scores. The removal of inaccurate late payments, new-credit inquiries or bankruptcies could result in credit score increases.
What if my credit report is wrong?
The credit bureau involved must provide you with results of the investigation in writing and also a free copy of your credit report if the dispute results in a change to that report. The credit bureau must also provide you with the name, address and phone number of the furnisher that reported the incorrect information.
What if my credit report is inaccurate?
If the business finds the information they reported is inaccurate, it must notify all three nationwide credit bureaus so they can correct the information in your file. The credit bureau must give you the results in writing and, if the dispute results in a change, a free copy of your credit report.