Repairing Your Credit

Reproduced from www.experian.com*

What should I do if I find an error in my credit report?
First, get a copy of your report and review it carefully. If you find an error, simply call or write the credit bureau (as instructed on your credit report). The bureau will check with the source of the information and send you an update. If you continue to disagree with the information, you can add a statement to the credit report.

Please be specific with your dispute: "I was never late with my payment" or "That is not my account." Simply saying an item is wrong does not give the bureau, or the source of the information, enough detail to help you resolve your dispute.

Because the credit bureau must ask the source of the information for a response, the dispute process can take up to 30 days.

Can "credit repair" clinics fix my bad credit?
Some consumers pay so-called credit clinics hundreds and even thousands of dollars to "fix" their credit report, but only time can heal bad credit.

Most credit reports contain easy-to-follow instructions for disputing information at no charge. Inaccurate information will be changed or deleted. Federal law mandates the time periods that accurate negative information remains on a credit report.

If you need help repaying creditors, managing debt or setting up a personal budget, consider a nonprofit credit counseling organization that is a member of the National Foundation for Consumer Credit. For the office nearest you, call 1-800-388-2227.

*Reprinted with permission of Experian copyright 2001. For more information visit www.experian.com

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