Credit Reporting
You have the right to have your credit report completely and accurately reflect your credit history. Negative information on your credit report can severely damage your credit score and your ability to obtain credit to buy things like a home or car, or be approved for a loan – it’s vitally important that your credit report be accurate. The Fair Credit Reporting Act ("FCRA") provides a civil remedy for consumers who have been harmed by the failure to remove reported incorrect information placed on their credit reports by the credit bureaus or those who report credit information to the credit bureaus, called "furnishers."
The FCRA may provide a remedy for you if you notice:
- someone viewed your credit report without your permission
- inaccurate information on your credit report
- unfamiliar accounts
- other indicators of identity theft
- someone else’s credit data on your report
- inaccurate or obsolete criminal history in employment reports
- incorrect entries by creditors / credit furnishers
- obsolete information, old addresses, etc.
- inaccurate/ incorrect entries on your credit file
STEPS TO TAKE
1. Request a Current Copy of Your Credit Report
To request a copy of your credit report, you will need to provide a letter with your personal information, such as your Social Security Number, date of birth, your full name, current and former addresses, a current phone number and current and former employers. To confirm your identity, it is helpful to include a copy of your driver’s license, a recent utility bill or a current paystub, with your request. You can submit requests for your credit report online or you may write for your report.
Equifax
P.O. Box 740241
Atlanta, GA 30374
1-800-685-1111
http://www.equifax.com
Experian
National Consumer Assistance Center
P.O. Box 949
Allen, TX 75013-0949
1-800-682-7654
http://www.experian.com
TransUnion
Consumer Disclosure Center
P.O. Box 390
Chester, PA 19064-0390
1-800-888-4213
http://www.transunion.com
2. Get a FREE Credit Report
Under the FCRA you have the right to receive one free credit report a year, every 12 months, from each of the three major credit bureaus: Equifax, Experian and Trans Union. The official website for requesting a credit report is: www.AnnualCreditReport.com. Reports may be requested online, or by phone: 1-877-322-8228. If you call, you will need to go through a verification process. Your reports will be mailed to you within 10 – 15 days (allow 2 – 3 weeks for delivery). Frequently a credit reporting agency may contact a consumer requesting proof of identity, such as a driver’s license, recent utility bill or a current pay stub, for security purposes.
If you have been denied credit within the past 60 days, or you are a victim of identity theft, you may receive a FREE copy of your credit report from the credit reporting agencies. When you request your report, you will need to supply a copy of the credit denial letter, or in the case of identity theft, a copy of the police report. We recommend that you do not request or dispute a credit report online. The credit bureaus sometime bury a legal waiver in the "click" agreement! Send a written request for credit reports, or disputes, via US mail. Keep a copy of your correspondence for your files!
3. DISPUTE: Send a Request to Reinvestigate Letter
- You have the right to dispute inaccurate or erroneous information with the three major credit bureaus, Equifax, Experian and Trans Union. Be sure to send your disputes in writing and send by Certified Mail, Return Receipt Requested.
- Write dispute letters, referred to as a "Request to Reinvestigate" letter, to all three credit bureaus and the credit furnisher (the company whose entry you’re disputing). Provide a concise explanation why the information is inaccurate and needs to be corrected. Also, supply supporting documentation illustrating the error.
- Send your dispute letters via Certified Mail, return receipt requested. Mark your calendar 30 days from the date your request was received by the credit bureau. The credit bureaus must respond to your request within 30 days of that date.
- Keep copies of all letters you send and receive.
If the negative entry is not removed, repeat the dispute process. Note in your dispute that this is your second, or perhaps third, request to have information corrected. If your dispute letters do not correct the error, contact us – you may have a lawsuit.
- Again, dispute by mail, not online! You can fully explain while preserving your rights.
FREQUENTLY ASKED QUESTIONS
Credit Reporting - Frequently Asked Questions
- What is a credit score?
A credit score is a complex mathematical model that evaluates many types of information in a credit file. A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending a person money or providing them with a service –– specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents. Consumers must purchase their credit scores by contacting the credit reporting agencies directly.
- How often can I check my credit report and credit score?
If you are looking to secure credit for a mortgage, car loan or personal loan, it is very important for you to get copies of your credit report and check your credit score before you apply for the new credit. When you request your own credit report, it is considered a "soft inquiry." Your credit score will not be affected negatively if you request a copy of your own report.
Always check your credit reports and credit scores BEFORE YOU APPLY FOR NEW CREDIT.
- Who can access my credit report?
The Fair Credit Reporting Act (FCRA) states that a company must have a legitimate reason to view your credit report. Any organization or individual who obtains a copy of your credit report under false pretenses can be sued and be subject to criminal prosecution.
The following list of organizations may have legitimate purposes to access your credit report depending on why they need it and how they handle it when received.
- Insurance companies (at underwriting, not claims)
- Landlords seeking a credit check for renters
- Credit card companies
- Companies where you are seeking employment (only with full disclosure and your written consent)
- Organizations considering your application for a government license or benefit (if the agency is required to consider your financial status)
- State or local child support enforcement agencies
- Government agencies (usually can only look at your name, address, former addresses, and current and former employers)
- Other organizations you've initiated business with
Any time your credit report is viewed by one of the above organizations, a "hard inquiry" gets recorded on your credit report. Hard credit report inquiries may lower your credit score.
Also keep in mind that potential employers see a different version of your credit report than lenders do when they do a credit history check. Potential employers conducting a credit check for employment are only concerned with how you manage and repay debt; in other words, your level of financial responsibility. Therefore they don't need to see as many details on your credit report.
- Is a ChoicePoint report the same as a credit report?
ChoicePoint is a company that collects data on you like the credit bureaus. However, the information they collect is broader. They collect information regarding insurance claims for your car or home. They do pre-employment background checks. They do tenant screening reports and criminal record searches plus much more. ChoicePoint encourages consumers to review on a regular basis, at least once per year, information about them that is stored with consumer reporting agencies, credit reporting agencies, in county courthouse and other government records, etc. Doing so enables consumers to detect inaccuracies that might result in the denial of financial or other benefits, or that might indicate the presence of fraud or other misuse of their information. Just as you would order your credit reports once a year, you should also request your "Choice Point Full File Disclosure." These reports are available at no cost once a year. The information in the report can affect whether or not you get hired for a job, how much you pay in homeowner’s and car insurance, and whether you are able to rent an apartment.
Choicepoint has been sued by consumers in a number of recent class actions. If you feel you have been wronged by Choicepoint or a similar background check product, CONTACT US.
To request your FREE ChoicePoint Full File Disclosure Form: www.choicepoint.com
- How can I get my name removed from mailing lists?
To remove your name from mailing lists, telemarketing lists, telephone solicitation lists, coupon
Solicitation lists or Data Compilation lists, consult our Resources Page for specific addresses, phone numbers and websites to file your request.
Credit Reporting - Resources
Credit Reporting - Self Help
ChoicePoint
Sample Letters