Reading your credit report can feel like reading a bad book. It can be confusing and frustrating at times, especially if there are any discrepancies on it. There are a few steps that you need to follow to get the information corrected and protect your credit score.
The first thing that you need to do when you find an error is to inform the reporting company in writing of the discrepancy. You will want to include copies of any documentation to support your side of the story. This is where good bookkeeping comes in handy. They need to investigate the problem usually within thirty days.
If the dispute does result in a change to your report, they will mail you a copy of your new report via mail. This report does not count as your free annual report, which is a good thing to get every year if you do not get one already. They will not notify you if it is not a valid change though.
Your next step would to be to contact the reporting agency about the dispute in writing. You may also want to get copies of all documentation that support your side of the story. If they discover that you were right and the reporting agency was incorrect they will have to remove the erroneous information from your credit report. While this may seem like a lot of work, it is worth it to protect your credit.
Getting things corrected on your credit report is going to take some time. It is not going to change overnight, though it is important to do to protect yourself. Make sure that you keep clear copies of everything you will need in case you need to refer to it at a later date.
Credit reports can take quite awhile to be fixed. After you have sent your letter with any kind of information or documentation that would be helpful, you probably will not hear anything back for about thirty days. If in fact there were corrections made to your report, a new copy of your credit report will be sent along with it.
While trying to make corrections to your credit report can seem quite time consuming, it is important to stay on top of because it really holds your future. Your score will hang over your head for the rest of your life, and you want to make sure there are no errors in it.