You have the legal right to dispute any information on your credit report that you believe incorrect if you discover such information. According to the Fair Credit Reporting Act (FCRA), anyone who provides information to a credit reporting agency and the credit reporting agencies themselves has a legal obligation to investigate and correct any errors a consumer identifies.
You can dispute inaccurate information on your credit report by following these three steps in the order given:
1. Send a request to the credit reporting agency requesting an investigation.
You have the right to request an investigation from the credit reporting agency if you believe inaccurate information is contained in your credit report. For the credit reporting agency to consider your dispute, you will need to provide supporting documentation to them. After that, the credit reporting agency is obligated to investigate the dispute and give a report to you within the next thirty days.
2. Inquire about the source of information by submitting a formal request.
Requesting an investigation from the information provider if inaccurate information is found on your credit report is within your rights. In the event of a dispute, you will be required to provide the provider with evidence to support your claim. Within 30 days of the end of the month, the provider is obligated to investigate your complaint and provide you with a report.
3. File a complaint with the Consumer Financial Protection Bureau (CFPB) if your bank makes an error or causes another issue (CFPB)
You can file a complaint with the Consumer Financial Protection Bureau (CFPB) if you feel that the outcome of your dispute was not satisfactory. The Consumer Financial Protection Bureau (CFPB) is a government agency responsible for overseeing the credit reporting industry. You have the option of filing a complaint either online or by calling the toll-free number 1-855-411-2372.
You can help ensure that the information in your credit report is accurate and up-to-date by checking it regularly and taking the necessary steps to dispute any incorrect information that you discover.
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