Steps to Take After Spotting a Credit Report Error

Most days, no one thinks about the impact of their credit report on their daily lives, but it plays a significant role in your ability to do many things. A credit report may influence your ability to get a loan, the interest you pay, your rent, how much your insurance premiums are, and even whether you can secure specific jobs. So, credit report errors in Florida should be taken seriously. 

Checking for accuracy on your credit report before you make big life decisions, such as moving or getting ready to make a significant purchase should be performed in advance to allow time to address any discrepancies. Always seek immediate help with a credit report error attorney in Florida if you are unsure how to address credit report errors.

Dispute Any Credit Report Errors You Identify

Three credit bureaus are responsible for compiling and storing information on a consumer’s credit history, creating your credit score that influences your ability to secure a loan, what you may pay for the services mentioned above, and your employment. The following information details the major credit bureaus: Equifax, Experian, and TransUnion.

• Regulations for the three major credit bureaus are overseen by the Fair Credit Reporting Act implemented by the Federal Trade Commission (FTC).
• Individuals beginning to build their credit may not have credit scores with each of the three major bureaus.
• These bureaus oversee purchasers’ balances and payments on their accounts

Contact Each Credit Bureau

Dispute a credit report error with each credit bureau when you identify a problem by writing an explanation of the error you have identified and supplying any evidence you obtain to back up your claim. Dispute forms must be included and can be found here:

• Experian 
• Transunion 

Get more information on Equifax’s dispute process here. Include a letter in your packet to each credit bureau. 

Information to Include in a Credit Report Error Letter

The credit bureau will need specific details about the error you have identified and personal information to identify who you are. In the letter, include:

• The name and address of the individual impacted by the credit error
• The error that has been identified
• Copies of the supporting documents
• A copy of a credit report with circles drawn around the mistakes

Never send your original documents. Make additional copies of all the documents you mail. Send the information via certified mail and request a return receipt to provide documentation of when each credit bureau receives your packet. 

What To Expect After Submitting a Credit Report Error Investigation Request 

A credit bureau must investigate your dispute within 30 days once it is received. If you submit a dispute after requesting a free annual credit report containing errors, 45 days is allowed for the credit bureau to respond. Any additional documentation requested and submitted during the 30-day period may stretch the investigational time by 15 days.

Notification of Credit Report Errors

The investigation results should be submitted to you by the credit bureau, and any changes to your credit report should be documented in a free copy. If errors are corrected, you may request the credit bureau to send:

• A mailed notice of any corrections to recipients of your credit report for employment purposes within the previous two years
• Mailed notice of corrections to anyone who would have accessed the report within the previous six months

When the credit bureau ceases to investigate your inquiry, you should be notified and given a reason. The credit bureau will often forward the submitted documentation to the business reporting the error for investigation. A report should be sent back to the credit bureau by the business. Inaccuracies the company identifies must be reported to each credit bureau to allow corrections to be made to your credit report. Additionally, you can take these steps to report incidents of fraud in Florida. 

Dispute a Credit Report Error With a Business

Unfortunately, a credit bureau’s investigation may not end with a dispute settlement. Request the credit bureau to attach a copy of the dispute to your file and include it in future report requests. Additionally, you may ask for a copy of the dispute to be sent to anyone making a recent request for a copy of your credit report.

To dispute your claim with the business, contact them or visit their website online and find out where to mail your dispute documentation. Any changes by the company to the disputed information should be sent to the credit bureau to be updated. A notice of the dispute must be sent to the credit bureau if a business continues to report the disputed information to a bureau. 

Your credit report should include a notice of the dispute and what information you are disputing.

Continue to monitor your credit report to ensure the information has been corrected or a notice of dispute is in your file. Watch for common signs of identity fraud.

Access Free Credit Reports

One free credit report per year may be obtained from each of the three major credit bureaus. Additionally, a program allowing you to receive each bureau’s credit report on you once a week for free has been extended.

• Access the free credit report at annualcreditreport.com 
• An additional six free credit reports a year are available through Equifax.

Reviewing your credit report allows you to spot potential identity theft quickly and address it. Identity theft will enable others to use your information to potentially make purchases, access your tax refund, and open accounts in your name. These crimes may go unnoticed until you receive notices of delinquent payments or the overdue accounts are on your credit report. 

Credit Report Error Dispute Assistance in Florida

Errors in your credit report can not only prevent you from making purchases, but they can impact your employment future. Specific professions guard against hiring individuals with questionable credit histories and poor credit scores. These choices may seem unfair, but they are one of the tactics used to provide for a business’s financial safety. 

Seek immediate assistance if a credit report error has impacted your credit, purchase power, or ability to achieve gainful employment. Protecting your credit report from errors is vital to your financial future.