The consumer must write a letter of dispute regarding the erroneous information reported by a specific credit reporting agency. The letter must reference; your full name address social security number the trade line account numbers brief statement of what is incorrect. Copies of supporting documents (if any) the letter must be sent by overnight mail, with return receipt requested. This verifies when the 30 day clock starts ticking.

Credit reporting is an imperfect system and there are times when you’re credit is tainted and it’s not your fault. Equifax, Experian, and transunion don’t always report the same information.

Obtaining authorization signatures from a borrower can help you access the information you need to clear bad credit records.

If you decide to fix errors on your report you should send in your proof to all three agencies. Don’t expect an overnight fix.

Be very careful when dealing with collection agencies, as they often give factually incorrect information while attempting to collect money.

Bureau errors are very common. The important thing to remember is to check your reports regularly to keep them accurate.

the fcra (fair credit reporting act) requires each of the three consumer credit reporting companies, Equifax, Experian, and transunion to provide you with a free copy of your credit report, at your request, once every 12 months. This is a new law that was imposed in december of 2004. It was started in phases depending on what state you lived in so that everyone would not overload the credit bureaus all at once. The law is not fully implemented throughout the nation. It is highly recommended that you should obtain a free credit report from each of the three main bureaus once per year to check for any errors or false information. You can obtain a free credit report by calling 1-877-322-8228, by completing the annual credit report request form and mailing it to: annual credit report request service, p.o. Box 105281, atlanta, ga 30348-5281 or by visiting any of the three credit bureaus online. This free report will not provide a credit score for you but will be instrumental in providing you with the information that is contained in the credit report. This is the first step to fixing your credit report errors. Also, anytime that you apply for anything and are turned down for credit reasons they will provide you with a letter that explains how you can go about getting a free copy of the credit report used in the credit decision. Again this is the first step to correct errors on your credit report. The next step is to contact the credit burea(s) with the errors listed and ask them what needs to be done next and they will explain the necessary steps for you to take. You can also do this all online after you obtain your free annual credit reports. When obtaining your free annual credit reports it is best to do each report separately so that you are able to dispute erroneous information with each credit bureau properly and expeditiously. Consult your personal mortgage professional if you should need any further help with fixing credit errors.

Here are the names, addresses and phone numbers for the three major credit bureaus. Equifax credit bureau p.o. Box 740241 atlanta ga 30374-0241 (800) 685-1111Experian (formerly trw credit bureau) p.o. Box 949 allen tx 75013-0949 (888) 397-3742transunion corporation (credit bureau) consumer disclosure center p.o. Box 390 springfield pa 19064-0390 (800) 916-8800 (800) 682-7654 (714) 680-7292

Most brokers work with someone that repairs credit, make sure to ask for a reference. Most credit bureaus are offering mortgage brokers a program that will tell them how to improve you credit score quickly in order to get the borrower their desired loan.

Fixing credit report errors may at times seem intimidating. However, if you stick with the process, and follow the advice of your mortgage professional, your credit score will improve.