Inaccurate Information on Credit Reports

When a credit bureau is notified that there is a dispute about the accuracy of information the credit bureau is required by law to conduct an investigation within 30 days. If the misinformation is confirmed then the credit bureau must change or remove the data. There is no charge for this and within five business days of terminating the investigation the relevant individual must be sent the investigative results along with his or her copy of the credit report. Also, the law requires the credit bureau to share the corrected information with major credit bureaus.₁


References

1. Repair Your Own Credit by Bob Hammond; Published by Career Press, Inc.; Chapter 4, Pages 37-38; Copyright 2001.



Note to file (332.743)