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Can You Correct Your Credit Report?
If you are denied credit based on a credit report issued by a local credit reporting agency, you can request a free credit report from that agency within 30 days. You might have an idea why you were denied credit then, but what if you find incorrect information on the report?
To begin with, if there is anything you wish to dispute in the report, you can write a letter to the agency stating exactly what is incorrect. They must investigate. Be sure to send any documentation (canceled checks, for example) by certified mail.
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The laws change from time to time, but in general the agency must contact the source of the disputed information, and if they recieve no confirmation within 14 days, they must delete the item from their files and send you an updated report. You can then demand that they send the corrected report to all creditors that have recieved your credit report in the last six months. This last part will not be done automatically, so be sure to ask.
To be frank, if the amount of the item is under $500 or more than a year old, usually nobody bothers to
Even when an item cannot be removed, you have the right to write a 100-word explanation and have it inserted permanently into your credit report. Everyone who recieves the report will see the explanation. If you had a valid argument with your doctor over a charge, for example, you can explain the details.