Making Changes to Your Credit Report

Written 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

Dressing for Romance

It's always exciting to dress for a date and you always want to look good for that one person. However, thinking clearly ...

Discover More

Best Tips for Thick Legs

Thick legs are a hard physical attribute to work with many times and you still want to look great. Thick legs though ...

Discover More

Drying Your Hair without Damage

Blow drying hair is a common practice among men and women, but it can be damaging. If you are looking for a way to dry ...

Discover More
More Money Tips

Recognizing Credit Counseling Scams

Credit counseling is a useful credit tool that can get you well on your way to a stable financial score, however you do ...

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 ...

Discover More

Obtaining Free Credit Reports

Just about everyone knows that they are entitled to a copy of their credit report, but not everyone knows how to go about ...

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}] (all 7 characters, in the sequence shown) in your comment text. You’ll be prompted to upload your image when you submit the comment. Maximum image size is 6Mpixels. 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 2 + 2?

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