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How to Correct a Credit Report

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Both credit reference agencies (also called ‘credit report agencies’) and the lender who provided the information to the credit reference agency are responsible for correcting inaccurate or incomplete information on your credit report.

If you have been denied credit you should request a copy of your credit file from the two main credit reference agencies (see below for details.) If there are any incorrect entries on your credit file waste no time in seeking to have them corrected or removed. How to fix a bad credit report is simple.

How to Correct a bad Credit Report

Always make your dispute in writing. Your letter should:

  • State your name and address
  • Refer to the entries that you believe are inaccurate
  • Support your dispute with documentation ie bill receipts, statements
  • Explain why you believe your credit file contains errors

It may be useful to include a copy of your credit report with disputed entries highlighted for easy reference. Also, always send copies of documents never the original versions. It is also worth keeping a copy of your letter to the agency.

On receiving your letter the credit report agency will investigate your claim and report their findings to you in writing. If the agency agrees there has been an error, they must first seek the agreement of the organisation who provided the information before they delete or correct an entry. (The organisation will be either a bank or credit card company.) Send your letter registered mail to ensure the credit report agency has received it. You can contact the UKs largest credit reference agency, Experian, here.

If your report contains information that is completely erroneous and has no relation to you personally, then the credit reference agency is obliged to correct it. If there is an incomplete entry such as delinquent listing that has since been paid in full, the credit report agency must bring your file up to date. If your credit report shows an account that belongs to another person, the credit reference agency will delete it.

Ask the credit reference agency to send correction notices to anyone who received your credit report in the past six months. Job applicants can have a corrected copy of their credit report sent to anyone who received a copy during the past two years for employment purposes.

In the event a reinvestigation does not resolve your dispute, you can ask the agency to include your objection on your file.

Write to the Information Provider (Bank or Credit Card company)

At the same time you write to the credit reference agency you should contact the creditor with whom you have the dispute. As above, include all copies of documents that support your claim. Getting your credit file amended may happen quicker if your creditor is expecting to hear from the credit reporting agency.

Some facts about bad credit reports

Time is the only healer when it comes to correcting a credit report which has genuine defaults and delinquencies.

Consider the following:

  • Negative entries remain on your credit report for 7 years.
  • Bankruptcy can be held on your file for up to 10 years.
  • Information about a lawsuit or an unpaid County Court Judgment can be on your file for 7 years or until the order is paid – whichever is longest.

Commonly used credit reference agencies

Experian
Equifax
Check My File