ected report.
You may ask the credit bureau to send a corrected report to anyone who has requested your file in the past six months, as well as to anyone who has requested it in the last two years in relation to employment.
If you disagree with the result of the CRA's investigation, you have the right to submit a 100-word explanation. The credit bureau must include the explanation in your file although the negative information will not be removed.
If you are having a problem getting your credit report corrected, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) using their complaint form . You may also:
- Call their toll-free phone number at 1-855-411-CFPB (2372) or TTY/TDD phone number at 1-855-729-CFPB (2372) Fax the CFPB at 1-855-237-2392 Mail a letter to: Consumer Financial Protection Bureau, P.O. Box 4503, Iowa City, Iowa 52244
A November 2013 report by U.S. PIRG titled “Big Credit Bureaus, Big Mistakes: The CFPB’s Consumer Complaint Database Gets Real Results for Victims of Credit Reporting Errors” found that the most common consumer problem with credit reports was incorrect information, which accounted for 65 percent of complaints.
The FCRA also places obligations to investigate errors on the companies that furnish information to a CRA. You can dispute inaccurate information found in your credit report directly with the company that furnished the inaccurate information. If you dispute an error with a CRA, it is always a good idea to also notify the creditor that supplied the information.
On September 4, 2013, the CFPB put companies that supply information to consumer reporting companies on notice that they are responsible for investigating consumer disputes forwarded by the consumer reporting companies. Furnishers are also responsible for reviewing all relevant information provided with the disputes, including documents submitted by consumers. CFPB Bulletin 2013-09 .
For more on resolving disputes, see PRC Fact Sheet 6a. FACTA, The Fair and Accurate Credit Transactions Act: Consumers Win Some, Lose Some.
Can I be confident the credit bureau will adequately investigate my dispute?
Unfortunately, you cannot be sure your dispute will get the attention it deserves. The bureaus have been widely criticized for using an automated dispute resolution process. Generally, companies that furnish negative information that is the subject of a dispute receive an automated, coded message from the bureau.
Is there more I should know if I'm a victim of identity theft?
As we explained above, if you are a victim of identity theft or suspect your SSN may be compromised, you can get a free copy of your credit report from each of the major credit bureaus. The free copies are mailed to you when you call the credit bureaus to establish a fraud alert. When creditors encounter the fraud alert, they are supposed to contact you to determine if it is truly you or if it is an imposter making the application for credit.
What about "freezing" my credit reports?
Individuals can "freeze" their credit report so it can only be accessed in very limited situations. With some exceptions, this option is offered free to victims of identity theft who provide a police report to the credit bureaus. Those who are not victims of identity theft may have the option of freezing their credit reports for a fee.
For more information about credit freezes, see:
Can I have negative information deleted if the entry is not an error?
After seven years, negative information in your report should automatically be deleted. The seven years begins 180 days from the date of the original delinquency. A Chapter 7 bankruptcy should be deleted after 10 years from the filing date. A Chapter 13 bankruptcy, which includes some debt repayment terms, remains on your credit report for seven years. Otherwise, negative information will remain in your file for the period allowed by law. You may include in your 100-word explanation any extraordinary circumstances that led to the negative information, such the loss of a job or illness.
Companies or individuals prom