Recently on November 10, 2021, U.S. Senators Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Ron Wyden (D-OR), Elizabeth Warren (D-MA), Jack Reed (D-RI), Chris Van Hollen (D-MD), and Ben Ray Luján (D-NM), urged the Consumer Financial Protection Bureau (CFPB), to take action to reform the credit reporting industry.

They want the consumer reporting agencies (CRAs) to improve the accuracy of credit reports, minimize the hassle, and hold the CRAs accountable for errors.

The smallest of errors could affect millions of people. This could prevent them from getting a job or housing at no fault of their own. These mistakes, consumers may pay more for credit and be denied loans, getting mortgage, or renting an apartment.

A study that took pace in 2012 found that one in five consumers had an error on their credit reports and five percent had errors that were economically damaging. A followup in 2015 found that nearly 70% of the impacted consumers surveyed three years earlier continued to dispute information.

If you need information on the disputing process or to seek legal action, contact us for help at anytime.

If you are having problems related to inaccurate information on your credit report, we recommend that you investigate your credit history thoroughly. The information below may assist you with your efforts. In addition, you should attempt to collect the following information:

Copies of all credit reports containing the inaccurate information and any previous credit reports you may possess;

Copies of all dispute letters you wrote to the consumer reporting agencies or creditors and any responses you received;

Copies of all documents that prove the information you are disputing is indeed inaccurate; and

Copies of all documents that prove you have suffered damages as a result of the reporting errors: This includes letters turning you down for credit, notices of interest rate hikes, medical bills for stress-related ailments and other damages.

How to Dispute Errors on a Credit Report

Step 1: Obtain your free credit reports
Obtaining your credit report is the first step in disputing any inaccurate or wrong information which may appear on it. Federal law requires the three national credit reporting agencies, Equifax, Experian, and Trans Union, to provide you with a free credit report every year. Most likely, each of these credit reporting agencies has a credit file on you. Get all three of your credit reports.

You can get your free credit reports at AnnualCreditReport.com. This is the only official site to help consumers obtain their free credit report. You may contact the credit reporting agencies directly, but consumer beware! These credit reporting agencies own businesses which easily trick the consumer into buying their credit scores rather than providing the consumer with their actual free credit report (legally known as the "consumer report").

Step 2: Initiate dispute with the credit reporting agency
Dispute errors on your credit report by using the FTC's sample complaint letter. Make copies of supportive documentation and mail your dispute to the credit reporting agency reporting the error(s). Mail your dispute letter & enclosures via certified mail - return receipt to:

Trans Union
Consumer Disclosure Center
P.O. Box 2000
Chester, PA 19022-2000
Phone: (800) 916-8800

Equifax
Complaint Department
P.O. Box 740256
Atlanta, GA 30374
Phone: (888) 873-5420

Experian
NCAC
701 Experian Parkway
Allen, TX 75013
Phone: (800) 583-4080

Step 3: Initiate dispute with the furnisher
Contact the furnisher of the inaccurate information. Use the FTC's sample complaint letter to use to dispute inaccurate information with providers.

Step 4: Wait for response
Credit reporting agencies must investigate disputes made by consumers. Thirty (30) days after the dispute is initiated, credit reporting companies are required (by law) to provide consumers with the results. The results should be accompanied by a free credit report. If the disputed is not resolved, consider seeking legal action.

Credit Bureaus Still Failing Consumers

Have you found inaccurate information on your credit report?

How to Dispute Errors on a Credit Report