Credit Bureau reports

Has anyone had inaccurate or erroneous statements made on their credit report? How do you get this monster removed? We’ve sent cert. letters to the credit reporting agencies disputing it and have tried to talk with the creditor who posted the statement, but they ignore our phone calls. Any suggestions?

I’ve been doing some research on said subject at the boards at In the US, the relavant statute is the Fair Credit Reporting Act (FCRA). It spells out the legal requirements for the bureaus and those who report information to the bureaus.

If the derogatory information on your report is from a Collection Agency, then you also have legal ammunition in the form of the Fair Debt Collection Practices Act. A typical tactic is to extensively document violations of the FDCPA, as each violation caries a Civil Liability of $1000. When you file a lawsuit for a couple thou over a debt of a few hundred, often times the Collection Agency will make a settlement that includes a deletion of the derogatory informaton.

Visit this government site on how to make the credit reporting companies comply with the law.