Repair Credit Problems

Having your identity stolen can be frustrating, but there are steps you can take to help repair your credit and correct inaccurate information. The Fair Credit Reporting Act of 1970 makes it the responsibility of the credit bureau and those who report to them to be responsible for removing inaccuracies. Here are some things you can do to help:

 

Note the Errors

Review your credit reports from all three major credit bureaus and make note of each error that you find.  

 

Letters of Dispute

Write a letter of dispute to each credit bureau.  Include a copy of the credit report with the error highlighted, a copy of the police report (if you have one), and any other supporting documents you have.

 

Keeping Records

Send your letters via certified mail and keep the tracking numbers on file. You'll want to keep detailed records of everything, including phone conversations with credit bureaus and creditors. Write down names, dates, conversation summaries and next steps.

 

Consider Hiring an Attorney

Some people prefer to hire a legal professional to help repair their credit. To find an attorney who specializes in consumer law and the Fair Credit Reporting Act, call your local Bar Association.

 

Additional Resources

Two brochures from the Federal Trade Commission are available online: "How to Dispute Credit Report Errors" and "Fair Credit Reporting."  Visit www.ftc.gov to download the brochures.

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