Tips for Correcting Credit Report Errors, Inaccuracies, or Fraud from 7 On Your Side


NEW YORK (WABC) – It’s still the biggest problem for consumers in New York and New Jersey, according to the Consumer Financial Protection Bureau: errors, inaccuracies or even fraudulent accounts in our credit reports.

But how do you fix your credit?

The FTC recently discovered that more than 20% of credit reports contain errors. Every inaccuracy lowers your credit score, costs you more on loans and insurance, and can even hurt your chances of getting a job. Although you cannot dispute your credit score, you can dispute information on your credit report.

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So how do you find an error? You need to check. Generally, everyone is entitled to a free credit report each year from each of the three credit reporting agencies: TransUnion, Equifax and Experian. But because of the pandemic, you are entitled to a free credit report every week until April 20.

You can get these reports for free by going to AnnualCreditReport.com.

If you see an error on your report, you can dispute it in two ways: through the credit reporting agency and the company that made the error.

“You can contact a creditor to ask who the company that outsourced the debt was and get the original creditor’s information,” debt relief attorney Leslie Tayne said.

It could be a bank, a credit card company, or even your landlord.

“Take proactive steps to contact these creditors and try to resolve or resolve these issues, try to resolve the debt,” Tayne said.

You can contact your credit reporting agency by phone, email or mail. Your dispute must contain your contact information, including your name, address and telephone number.

Attach a copy of your credit report with the error circled. Include a brief explanation of why you are disputing the charge, along with a request to waive the charge, along with proof, such as a receipt showing that you paid the bill.

Some big takeaways:

Generally, the credit bureaus have 30 days to investigate a dispute. You should receive feedback five business days after the investigation is complete.

It is important that if you mail your request, you send it certified, “acknowledgment of receipt requested”, so that you have proof that it has been received.

7 On your side a examples of protest letters, links to get free credit reports, and information on how to dispute directly through the three credit bureaus.

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