A collection on my credit report is wrong and the creditor acknowdges it is wrong.

by Scott
(California)

Hi,

I have an incorrect collection on my credit report. Both the creditor and the debt collection agency agree the SSN they have on file is my son's (whose name is identical to mine). The creditor is telling me the debt collection agency should correct the error. I am in the middle of a re-fi and the mortgage company is saying the creditor should correct the error. What is the best (and fastest) way to correct this problem?

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Jul 16, 2012
 A collection on my credit report is wrong and the creditor acknowdges it is wrong.
by: Debtcollectionanswers

Correcting credit record problems can be difficult sometimes, even though the federal Fair Credit Reporting Act entitles you to have all errors corrected. Therefore, to ensure that your problem gets resolved as quickly as possible, I would pursue a 3-pronged approach. First, write both the creditor and the collection agency a letter asking each of them to notify the credit reporting agency of the error and to provide the agency with the correct information. Make a copy of your letters and send both of them certified mail with a return receipt requested.

Second, go to the web site of the credit reporting agency and fill out its on-line dispute form. When you do, the credit reporting agency is legally obligated to contact whomever reported the incorrect information to it to find out whether or not the information is accurate or not. If the company says that the information is wrong, the credit reporting agency must correct it.

Third, send the same credit reporting agency a letter explaining the error in your credit report and asking that it be corrected. Make a copy of the letter for your files. If you have written proof of the error, make a copy and attach it to the letter you are mailing. Send the letter via certified mail with a return receipt requested. You should find the address for the credit reporting agency on its web site. Note: Experian accepts online disputes only.

Once it receives your dispute, the credit reporting agency will have 30 days to investigate it and make any necessary changes to your credit report. Once its investigation is over, the agency must send you written information telling you what it did and the outcome of the investigation.

If you are told that your credit report was corrected, it's a good idea to confirm that fact by reviewing the report again. Also, if your credit report is corrected, you are entitled to have the credit reporting agency send a notice of the correction to anyone who reviewed your report over the past six months. You will have to ask the agency to do this however.

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