If on obtaining a copy of your credit file you are alarmed to see some false information has been entered against your name, you will need to take steps to have your report corrected. This article teaches you how to do just that.
Step 1: Request A Copy Of Your File
Lenders will use the major credit reference agencies (UK - Experian, Equifax, US - Experian, Equifax, Trans Union) to establish whether you are a credible credit risk. These credit bureaus hold credit files on everyone who has ever applied for a form of credit. Your credit file lists every credit card/loan application, breach of contract etc. Request a copy of your file to ensure it is accurate.
Step 2: Look Out For . . .
Some of the most common reasons why you may have misinformation on your credit report. Incorrect credit report entries are usually the result of human error on the part of the administrator, fraud or an ex-partner's information still being held on your file. There may be loan applications by someone using your name, what's called, Identity Fraud.
Step 3: Write To The Credit Agency
In your letter to the credit agency, state your name and address and refer to any erroneous entries on your credit report. If possible support your objections with bills and statements and clearly explain why you believe a mistake has been made.
 | For a convenient letter template visit Debts.Org |
Step 4: Take Follow Up Action
If your credit agency agrees with your claim, insist they send correction notices to banks/credit unions etc who received your credit report in the past six months.
If the agency does not agree with your claim, you can ask for a notice of objection to be entered on your file.
Step 5: Write To Disputed Credit Provider
When you write to your credit bureau insisting they contact the banks or credit card companies with whom you have a dispute, send a letter to those companies directly. This will speed up the correction process if you alert your creditor to the fact that the credit agency is preparing to contact them.
