Credit Report Error or Dispute?
We Can Help You Know What to Do Next.
Incorrect information on a credit report can affect approvals, interest rates, housing, and financial decisions. If you found an error or suspicious account, we can help you understand your options.
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What Should You Do If You Find an Error on Your Credit Report?
If you see an account you do not recognize, an incorrect balance, a late payment that you believe is wrong, or personal information that does not belong to you, review the information carefully before taking action.
You have the right to dispute inaccurate or incomplete information on your credit report. There is no charge to file a dispute. The Consumer Financial Protection Bureau recommends contacting both the credit reporting company and the company that supplied the information.
Common Credit Report Errors
Errors can include:
- An account that does not belong to you
- An incorrect account balance
- A payment incorrectly reported as late
- A closed account shown as open
- The same debt appearing more than once
- Incorrect name, address, or other personal information
- An account that may have been opened through identity theft
What If You Don’t Recognize the Account?
An unfamiliar account can be a reporting error, but it can also be a warning sign of identity theft.
If you believe someone used your identity to open an account, do not treat it as an ordinary credit-report correction. The FTC recommends reporting identity theft through IdentityTheft.gov, which provides a recovery plan and documents that can be used in dealing with credit bureaus and creditors.
We could then link this sentence directly to your “Someone Opened an Account in My Name” page.
How Long Does a Credit Report Dispute Take?
A credit reporting company generally must investigate a dispute within 30 days after receiving it. In some circumstances, the investigation may take up to 45 days. After the investigation is completed, the credit reporting company must provide the results.
Can Accurate Negative Information Be Disputed?
A dispute is intended to correct information that is inaccurate or incomplete. Accurate negative information generally cannot simply be removed because it is hurting your credit score. The FTC has specifically warned consumers about companies or online advice claiming that legitimate debts can be removed by falsely reporting identity theft.
Need Help Understanding What You Found?
If you are looking at your credit report and are not sure what the information means, call us at 800-518-1077.
We can help you understand what you are seeing and explain the next steps available to you.
Reviewed by T. Kayhan, President of TheCreditBureau.com, with more than 30 years of experience in credit reporting, identity protection, and consumer credit services.