The FCRA states that both the credit reporting agency and the information provider, which includes the company or person who provides your credit history to an agency, are responsible so as to correct any errors in your information. You have certain rights under this law that allows you to contact the credit reporting agency and the information provider to get your information corrected.
What to do when you find an inaccuracy?
• Inform the Credit Report agency, in writing, about the information that you consider to be incorrect.
• The agency must investigate the concerned entry within a period of 30 days. If your request is found to be genuine, the inaccuracy is forwarded to the organization that provided them with the information. The information providing organization then conducts an investigation and reports the result back to the credit reporting agency. And, if the information is found to be inaccurate, the information provider is required to notify it to all the three major agencies in the country.
• And, when the investigation is through, the reporting agency presents you with a written acknowledgement of the results and the free copy of your report.
When you dispute an entry, the Credit Report agency has to send you, in written, the name, address and contact information of the company or person who provided them with the information. It is important that you raise a dispute in writing.
What to do if the information is not corrected?
In case the investigation is not able to resolve the error, you can ask the agency to include the dispute statement in your report. The agency can also be asked to provide the statement to any firm or person who receives your report’s copy in the near past. And, this service may require you to offer a fee to the agency. And, you can also ask the information provider to include the copy of your dispute whenever it provides your information to a reporting agency.

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