Posts Tagged ‘correcting credit report errors’

A 5-Step Guide On How To Correct Credit Report Errors And Fix An Inaccurate Address

With the introduction of the Fair Credit Reporting Act, the financial lives of consumers can now be protected more effectively and efficiently. Fixing a suspicious address on your report or correcting credit report errors has now become a much easier process. As per this Act, each and every American consumer is entitled to get at least one free report from each of the three major credit bureau agencies (Experian, Equifax, and TransUnion) at least once every year. When you review the details on your report and find out that there is some erroneous information on it, you can get it changed by following a simple procedure. You just have to first verify the information and then send enquiries regarding the same to the credit bureaus. Following is a 5-step guide on how to go about it.

Are You Sure There Are Inaccurate Addresses On Your Report?

The first thing you have to do is to make sure that there are indeed inaccurate addresses on your report. Before you start the procedure of correcting credit report errors and send letters or emails to the credit bureaus, you should obtain a free copy of the report and review the same thoroughly.

Review The Demographic Information

If you suspect that there might be some addresses inaccurately mentioned on your report, you must scan through the demographic information thoroughly. If you have obtained your report through email, you must first get it printed on paper. The demographic section includes basic yet crucial details, such as your name, address, age, telephone number, social security number, your employer, and other such things. Circle the address that is inaccurate. Make a few photocopies that must include the circled area.

Write A Short Letter

Here, it is very important for you to keep in mind that you are not filing any dispute that needs in-depth investigation; you are just trying to get the address corrected. In order to get these credit report errors corrected, you just need to write a simple letter where you will have to explain the problem. You are strongly recommended not to take out your frustration in the letter. Be very specific and write about the issue in a short and concise manner; keep the letter non-emotional and business-like. Do not forget to mention your name, age, and social security number clearly in the letter.

Send The Letter To Credit Bureaus

Here are the addresses of the credit bureaus where you have to send your enquiries:

TransUnion LLC
P.O. Box 2000
Chester, PA 19022
(800) 888-4213

PO Box 2002
Allen, TX 75013
(888) 397-3742

P.O. Box 740256
Atlanta, GA 30374

Wait For A Response

As per the Fair Credit Reporting Act, credit bureaus must acknowledge your enquiry within thirty days. After acknowledgement, they must address and correct the address within the next ninety days.

Though it is quite unlikely, if you do not get any response from the credit bureaus within 30+90 days, you can file a complaint against the bureaus and take further legal action to get the credit report errors corrected.

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