How To Dispute Errors On Your Credit Report

Errors on your credit report could negatively affect your credit score. If you’re in the market for a mortgage or personal loan and are looking for a competitive interest rate, the last thing you want is a low credit score.

Having accounts on your credit report that aren’t yours, or having an inaccurate account payment history, could have a big impact on your financial life. If you've found errors on your credit report, disputing them is the logical next step.

What Is A Credit Bureau Dispute?

If you have an error on your credit report, you will need to dispute it with one of the credit bureaus to resolve the issue. Errors on your credit report can cause your overall credit score to drop, so it's important to identify and dispute any potential errors. It's a good idea to regularly review your credit report and find any discrepancies.

What Are Common Types Of Credit Report Errors?

Here are a few common types of credit report errors:

Identity Errors

The first type of common credit report errors are identity errors. Identity errors refer to incorrect information about you specifically. This could include an incorrect name, address or phone number. Identity errors can also be caused by other people's information showing on your credit report, especially if you have a very common name.

Balance Errors

Creditors including credit card companies typically report your overall credit card balance and credit limit to the credit bureaus. Because this information can be used in determining your overall credit score, it's important to ensure that the balance you carry is accurate.

Account Errors

Another type of error on your credit report could be related to your account. This might include:

• Accounts that are reported as delinquent even when they are not
• Closed accounts still reporting as open
• Incorrect information regarding payment or delinquency dates
• Being reported as an account owner on an authorized user account

Duplication Errors

Credit reports can also contain duplication errors. Duplication errors are when accounts or balances show up multiple times on your credit report. These duplicate entries may show up multiple times in your name, with different variations of your name or with a different name entirely. If you see a single account that shows up multiple times on your credit report, you should dispute the duplication error.

How To Dispute Credit Inquiries: 7 Steps 

Here is a simple step-by-step guide on how to dispute incorrect credit information on your credit report:

1. Identify The Credit Report Error

First, you need to identify the error that is showing up on your credit report. One good way to do that is to get a free copy of your credit report. Carefully look through your reports from each of the three major credit bureaus for some of the common errors mentioned above.

2. Gather Necessary Documents

Once you have identified a credit report error, you'll need to gather different documents that may be needed to prepare to dispute a credit report error. Here are some of the necessary documents that you might need:

• Personal identification, like a driver’s license or birth certificate
• Credit card and bank statements
• Relevant court documents
• Documents showing proof of a credit error, like identity theft
• Lender correction statements

3. Submit Your Dispute To The Credit Bureaus

Once you have the necessary information, you can submit your credit report dispute. This can be done online, by phone or by mail. Here is the contact information for how to dispute to each of the three major credit bureaus:

When submitting your dispute to the three major credit bureaus, the more information you can provide to back up your dispute claim, the easier your resolution will be. Depending on what information you’re disputing, you may need to include documents such as past billing statements, copies of personal identification or proof that an account was opened fraudulently.

4. Consider Contacting The Data Furnisher

Credit bureaus generally are not the ones that generate the information included on credit reports. Instead, different companies (sometimes called data furnishers) will report information about consumers to these consumer reporting agencies. This might include banks, landlords, lenders or credit card companies. If there is incorrect information being provided about you by one of these data furnishers, it might make sense to contact them directly to have them update their records. This may not work in some cases, or you may not be able to determine who is supplying the credit bureaus with data.

5. Wait For A Response 

After you submit your claim, each of the major credit bureaus offer you the ability to check your status on their website. The dispute process can take up to 30 days or possibly even more, depending on how complex the details of the dispute are.

6. Assess The Results Of Your Dispute

If your dispute claim was approved, the credit bureau will modify your credit report accordingly. It may be smart to contact the lender or creditor whom the error concerns directly to ensure your affairs are in order. Afterward, you should remember to contact anyone else who needs to know about your newly updated credit report (potential lenders, employers, etc.).

It’s possible your dispute claim can get denied. If the credit bureau and lender agree that the current information in your credit report is accurate, things will remain the same. You’ll have the opportunity to resubmit your claim if you’d like. Including more supporting documentation may help with the dispute process the second time around.

If the online process isn’t for you, you can also submit (or resubmit) your dispute through the mail or on the phone with all three credit bureaus. Depending on your ideal communication style, this may be preferable for you.

7. Monitor Your Credit Report For Updates

It may take a few weeks or even months for your credit report to be updated with the results of a credit report dispute. It's a good idea to regularly review your credit report and make sure that the information has been updated. If your dispute was approved, it may also be beneficial to check your credit report with the other bureaus to make sure that they also update this information.

FAQs On Disputing Your Credit Report

Where do I dispute a credit inquiry?

Typically, you will dispute a credit inquiry with the credit bureau that has the incorrect information. For a credit inquiry on your report you did not authorize, you may also find it useful to contact the company that made the inquiry directly. If they agree that you did not request the inquiry, they may be able to remove the inquiry from your report.

How long does the dispute investigation take?

Dispute investigations usually take anywhere from a few weeks to a couple of months to conclude. The length of time a dispute investigation takes will depend on a number of factors including how complicated the dispute is. Typically you can track the status of your dispute on the website of the credit bureau.

Does disputing credit report errors affect my credit score?

Yes, disputing credit report errors can have a major impact on your credit score. If there is incorrect information on your credit report, it may affect your credit score, so it generally behooves you to make sure the information is correct.

What if the credit information is accurate but unfavorable?

Disputing your credit report generally only works if there is incorrect or inaccurate information. If the information is accurate but just unfavorable to you, filing a dispute is unlikely to work. Instead, work on improving your credit score in other ways, like paying each of your balances on time and reducing your utilization ratio.

Is disputing my credit report worth it?

Yes, disputing your credit report can absolutely be worth it, especially if you have inaccurate negative information on it. Removing inaccurate information can help improve your credit score, which might get you access to lower interest rates or additional loans and credit.

The Bottom Line: Resolve Errors On Your Credit Report With A Credit Dispute

In this digital age of data breaches and stolen information, it’s important for all of us to play defense when it comes to our financial lives. Staying on top of our important personal data and disputing errors right when we see them can help us save money and reduce our overall financial stress. The Rocket Money℠ mobile app can help you monitor your credit journey, before and after potential errors are resolved. The app can also help you track and improve your credit score. Sign up today and connect your first account to get started!