What you can do yourself, for free

Get your credit reports

Federal law entitles you to a free report from each of the three nationwide credit bureaus (Equifax, Experian and TransUnion) once every 12 months. The bureaus have also permanently extended a program that lets you check each report for free every week.

• Online: AnnualCreditReport.com, the site the FTC names as authorized to fill orders for free annual reports.
• By phone: 1-877-322-8228. Reports are mailed within 15 days.

You may qualify for additional free reports, for example if you were denied credit and ask within 60 days of the notice, or if your report is inaccurate because of fraud.

Dispute errors

If something is wrong, dispute it with both the credit bureau and the business that supplied the information. Both have to correct wrong or incomplete information, and they have to do it for free.

1. Write down what’s wrong. Explain the error, and include the bureau’s dispute form if it has one.
2. Attach copies, not originals, of documents that support your dispute.
3. Send it to each bureau showing the error. You can mail it to the dispute address, or file online or by phone. If you mail it, consider certified mail with a return receipt, and keep copies of everything.
4. Write to the business too, describing the information you dispute and why it’s wrong.

What happens next

• The bureau has 30 days to investigate, unless it decides the dispute is frivolous or irrelevant. In that case it must tell you and say why.
• The bureau sends your evidence to the business, which must investigate and report back.
• You get the results in writing. If your report changed, you also get a free copy.
• If the dispute isn’t resolved, you can ask for a statement of the dispute to be added to your file and to future reports.

How long negative information stays

Under the Fair Credit Reporting Act, most negative items, including accounts sent to collection or charged off, can generally be reported for 7 years. Bankruptcies can generally be reported for 10 years. These limits have exceptions, including for reports used in some larger credit, insurance and employment decisions.

Rules for credit repair companies

The Credit Repair Organizations Act bars these companies from charging before the service is fully performed, requires a written contract, and lets you cancel until midnight of the third business day after you sign. If you’ve been harmed, you may have the right to sue. Many states have their own rules as well.

Report a problem

• Federal Trade Commission: ReportFraud.ftc.gov
• Consumer Financial Protection Bureau: consumerfinance.gov/complaint
• Your state: your state attorney general or local consumer affairs office

Credit scores

Sources

• FTC: Free Credit Reports
• FTC: Disputing Errors on Your Credit Reports
• FTC: Fixing Your Credit FAQs
• CFPB: Telling a credit repair scam from a reputable credit counselor
• 15 U.S.C. § 1681c: time limits on reporting
• 15 U.S.C. § 1679b and § 1679e: credit repair rules