As a continuation of How to Identify and Fix the Most Common Credit Report Mistakes (Part 1), the following is some additional information regarding how to recognize and repair credit report mistakes. While Part 1 of this blog focused on types of mistakes that commonly appear on borrowers’ credit reports, here in Part 2, we will take a look at what borrowers can do when they have pinpointed problems with their credit report.
Repairing Credit Report Mistakes
For borrowers who have reviewed their credit reports and have found mistakes on them, they will have two primary courses of action when it comes to fixing these mistakes:
- Submit a formal written notification of the mistakes to the credit reporting agency – While you can call credit reporting agencies and talk to their customer service representatives, in order to effect any changes to mistakes on your credit report, you will need to send a formal written request to the agency. As part of this request, you will need to explain the nature of the mistakes and, if appropriate, provide documentation proving the correct information.Following such a request, credit agencies will typically conduct their own investigation into the mistakes and, based on the results of their investigation, may rectify the error on your credit report. Whether or not they decide to change a mistake, the credit agency will notify you of its decision in writing.
- Submit a formal written notification of the mistakes to the bank or creditor – Writing to a creditor or bank is very similar to the process of writing to the credit agency itself, as you will need to explain the nature of the error or disputed debt and provide documentation proving your claims. Should the creditor’s investigation into the matter yield conclusions similar to your own, the creditor will contact the credit reporting agencies to have them make the necessary changes to your credit report.
If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C. Our experienced legal professionals are committed to providing each of our Clients with the debt relief assistance they need, and we will work tirelessly to ensure that our Clients’ cases are resolved as favorably and efficiently as possible. For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950.