If you order a credit report you
will receive a Dispute form with it. Each bureau normally offers
a Dispute form so you can report information you believe to be
If you apply for credit of any kind –
and are denied – you will receive a letter of decline from one
of the Credit Bureaus. (it just depends on which one the lender used
to run your credit report)
When you are denied credit, you are
entitled to a free credit report from the agency that supplied your
credit report to the potential lender. Call the Credit Bureau and
request a copy of your credit report. If you disagree with items
therein, follow up with the Dispute form.
Credit Bureaus will not remove anything from your credit report until
they receive proof (in their hands) that the information is incorrect.
If you fill out the form you should explain in detail why
certain information on your credit report is incorrect. When
sending in a Dispute form to a Credit Bureau, include copies of any
and all documents to support the inaccuracies.
You borrowed $1000 dollars from ABC bank. You are supposed to pay ABC
bank $100 dollars a month for the next 12 months, due by the 5th of
each month. When you receive your credit report it says that ABC bank
reported that you paid $100 dollars past the due date two times. But
you know you paid your bill on time. You should contact your bank and
ask them to send you a summary of your loan account. When you receive
the bank’s summary, and you see there are no mistakes – you should
attached this summary with the Credit Bureau’s Dispute form and mail
it in to one of the three main bureaus.
Under the Fair Credit Reporting Act, a
Credit Bureau must investigate your claim within 30 days of receiving
it. Keep records of when you mailed your correction form. You should
mail it via Certified Mail. This way you will have a signed receipt
for delivery, and you’ll be able to use this documentation, if in the
future, they state they never received it.