It’s important to review your credit report on a periodic basis for a number of reasons, including: its information can determine whether or not you can obtain a loan and how much it may cost; you must ensure that the information is complete, accurate, and up-to-date before applying for major loans; and to protect against identity theft by identifying any information that is suspicious, false, or fraudulent.
Under the Fair Credit Reporting Act, credit reporting companies are responsible for correcting information in your report that is incomplete, inaccurate, or fraudulent when disputes arise, and these disputes are possible by contacting the credit reporting company. For example, you can mail a letter regarding the inaccurate information and include copies of supporting documents (keep the originals for yourself). Provide your full name and address, description/s of the errors, and a request to correct or remove the information, and request a return receipt to document how the company received your letter.
Companies usually investigate credit report disputes within thirty days, and the data you provide regarding the inaccurate information will also be referred to the organization which provided it to the credit reporting company. If the disputed information is found to be inaccurate by the information-providing organization, it will notify all three major credit reporting companies (Experian, Equifax, and TransUnion) to have the information corrected.