Every debt on your credit report must be accurate, complete, and verifiable. The Fair Credit Reporting Act gives you the right to dispute any inaccurate or unverifiable item — and requires the credit bureau to investigate and remove it if it cannot be verified within 30 days. Most collection accounts on credit reports have errors. Most debtors never check.
What to Look For
Common errors on collection accounts: wrong balance (often inflated with unauthorized fees), wrong account status, wrong date of first delinquency (which determines when the item must be removed — 7 years from first delinquency), accounts that belong to someone else, accounts already paid or settled shown as open, and duplicate accounts reported by both the original creditor and the debt buyer.
How to Dispute
Send a written dispute letter by certified mail to each of the three major credit bureaus — Equifax, Experian, and TransUnion — identifying each inaccurate item by account name, account number, and the specific error. Include copies (not originals) of any supporting documentation. The bureau has 30 days to investigate and must notify you of the result.
If the Dispute Is Verified Incorrectly
If the bureau verifies an item you believe is inaccurate, you can dispute directly with the original creditor or debt buyer, request the method of verification, and file a complaint with the CFPB. An item that reappears after being deleted without proper notice is a separate FCRA violation worth up to $1,000.
Educational use only. Not legal advice. Justice Foundation.
Leave a Reply