Credit Reports

If you've looked at your TransUnion credit report and find that there is an item that appears to be incorrect, consider disputing that item. This credit bureau makes it simple to report any information that appears to be incorrect through a number of methods.

Steps you would take to dispute the item:

Step #1: Identify Inaccurate Information: Identify which item on your credit report appears to provide inaccurate information and search through your finances to verify it is truly an erroneous item.

Step #2: Choose a Dispute Method: TransUnion makes it possible for you to dispute the inaccurate information one of three ways.

• You can do so by drafting a letter and mailing it to their offices.
• You can call the company and speak with a customer service representative who will guide you through the process of disputing the information.
• You can fill out their online form to do the job.

Step #3: Put TransUnion to Work: TransUnion will contact the data provider reporting the information and ask for verification of the information they have provided. The source may take up to 45 days to verify whether the information on the report is correct or not.

Step #4: The Result: TransUnion will document the outcome of the investigation and make any necessary changes to your report. You will be notified of the outcome of the dispute 3 to 5 business days after the investigation is closed. If you sent in your request via email, your answer will be emailed to you and viewable immediately.

If you disagree with the result of the investigation, you have the right to submit a 100-word customer statement to add to your report explaining your side of the story. If you're not sure exactly what to write, you can speak with a customer service representative to get help with writing your dispute.

Your credit report contains a great deal of vital information. This information can be used by many different sources for a number of things, such as applying for a mortgage or leasing a car.

Credit bureaus provide information such as your employment history, payment history, inquiries and public records so that companies know whether or not you are a secure candidate for a loan, lease or other contract.

Why are things like my employment history on my credit report?

If you are applying for a loan, banks and other institutions need to know whether or not you will be able to pay it back. By checking your employment and payment history, they can tell that you are financially reliable.

If you have held a steady job and pay your bills on time, this shows that you are more likely to be a responsible applicant. Also, this can help determine certain lending rates, such as a mortgage rate.People with higher credit scores are more likely to receive lower rates based on these histories.

If you have filed for bankruptcy or have had a tax lien, these are matters of public record and are also included in your credit report.All of this information influences your credit score.

You should know who's been looking at your credit history

If someone has inquired about your credit file in the last six months,you have a right to know about it.

Most companies and institutions have an obligation to let you know if they have inquires about your credit file.If you feel that you have not been provided with this information, a quick check with one of the big three credit bureaus should clear up any questions you may have.

It is important to know what is in your credit report.By providing information such as public records, employment and payment histories, the credit bureau can be sure that the companies who need to access your credit file have all the facts they need.

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