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Wednesday, February 20, 2013

Fixing Errors on Credit Reports

The Federal Trade Commission (FTC) recently released the results of a 10-year study on the accuracy of credit reports. The study found that one in five consumers’ reports have errors.

The findings highlight the importance of checking your credit report.

Obtaining Your Free Credit Report

According to the FTC, the Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months.

To order your free credit report, visit or call 1-877-322-8228.

If You Find Errors, Dispute Them

If you find errors on your credit report, dispute them right away. Contact both the company and the credit reporting agency in writing about what you think is inaccurate. Credit reporting agencies must investigate the disputed information, usually within 30 days.

If that doesn’t work, you can file a complaint with the Consumer Financial Protection Bureau at They will review your complaint and update you along the way.


1. Federal Trade Commission – Disputing Errors on Credit Reports


3. Results of FTC Study