Making Changes to Your Credit Report

by Charlotte Wood
(last updated April 27, 2012)

Your credit report is one of those documents that has a significant influence on what you can and cannot do with your money or with what you pay regarding loans and mortgages. Because of the importance of your credit report you need to make sure your credit report is accurate and you want to be able to correct any information that is not truthful. Fortunately there are ways to make changes to your credit report so you can guarantee yourself the best chances at qualifying for those loans and debts you may need.

The first step in correcting a credit report is to contact your credit bureau that generated your report. (Remember that there are three major credit bureaus—contact the right one!) Whatever claim you make, the bureau will investigate it within 30 days and try to verify the information. If the information cannot be verified, then it will be removed from your credit report and an updated report will be sent to all creditors who requested your report within the last six months.

Remember that information can only be deleted from your credit report if it cannot be verified or it is proven to be false. (Correct information that is negative stays on your report up to seven years after the date of the last activity on the account.) Any other information, negative or otherwise, will stay on your credit report. However, you are allowed to make a 100 word statement regarding a specific issue on your report to explain any circumstances or explanations surrounding a particular item.

Requests to change information on your credit report must be made in writing and can take a long time. You may have to go through phone calls and other correspondence full of red tape, which is definitely not ideal, but the only way to correct anything on your credit report. You will have to wait until the bureau can investigate your correction claims and then the information may have to be changed and sent out to inquiring creditors. The process can take a while, but when it's regarding something as sensitive as your credit and money, you'll want to make sure everything is looking as it should.

Fortunately for your credit peace of mind, you do control what goes on or comes off of your credit report and can say more on top of your credit status. The downside, however, is that it does take time to correct anything false on a credit report, but for your own financial reputation and well-being it's worth it!

Author Bio

Charlotte Wood

MORE FROM CHARLOTTE

Removing a Scorch Mark on Fabric

Scorch marks just happen sometimes and you have the power to fix it! Here are a few tips to get those unsightly scorch marks ...

Discover More

Correcting Skin Blemishes

Few appearance woes are most frustrating than skin blemishes. They pop up unwanted and can be so hard to get rid of. The next ...

Discover More

How to Make Eye Shadow

If you think about how much money you spend on makeup, it's a lot! But if you make your own eye shadow, you not only save ...

Discover More
More Money Tips

Maintaining Good Credit

Maintaining good credit is such an important topic that there have been entire sections of libraries written about it. That ...

Discover More

Using Credit Wisely

Credit is quickly becoming a staple of mainstream society. It is a tool that can either build up your financial situation or ...

Discover More

Repairing Bad Credit

Repairing bad credit is a difficult endeavor that takes perseverance and wise money management. It's not as tricky as it may ...

Discover More
Comments

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] in your comment text. You’ll be prompted to upload your image when you submit the comment. Maximum image size is 8Mpixels. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is 7 - 0?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)