If you find yourself looking at your credit report and spot an error, you are not alone. In fact, a recent study conducted by the Federal Trade Commission revealed that one out of five folks have an error on their credit report.
So what do you do? The first thing to do is to write a letter to both the company reporting the error and the credit reporting agencies publishing it on your credit report. In other words, you want to make sure you write both companies. If you have any supporting documentation to help prove the error, send this. This letter should be sent certified return receipt request. You know the green card that you get back in the mail showing proof that they got your letter. Make sure you keep a signed and dated copy of your letter (and any attachments that you included)
Once your letter is received, both companies (the furnisher and the credit reporting agency) have a duty to conduct an investigation. If the error is not corrected, you may want to consult with an attorney. Often times, consumer protection attorneys that handle credit reporting cases work on a contingency, and any attorney fees that may arise are either paid via settlement or through a court order.
For additional information, please call Credit Report Attorney, Ben Dupre at 408-874-5300