Correcting your Credit Report

Gnid

Is it hard to correct an error in your credit report?

For example, there were errors in your credit report due to your previous bank 3 years ago.

How easy would it be to ask your previous bank (who you don't have any dealings) to contact the relevant credit agencies to correct an error that happen 3 years ago?? Would the bank be efficient in correcting this error?

I just have a feeling the process of correcting errors is a slow and process email...

travel_freak

Hi Gnid,

I've just been through this process and found it relatively painless. For the first time in my life I bothered to obtain my credit report from Experian and it was enlightening! There were quite a few inaccuracies on it so I had several letters to write! They had me down as living in Scotland which is news to me!!

Some involved banks and others were credit cards and the Post Office who had recorded that I'd paid my bill to them late no fewer than three times when I actually have always paid them ontime by direct debit!!

Anyway, the banks and credit card companies I wrote to acted quite swiftly in correcting the information and offered nominal sums of compensation since the errors were on their part.

You can email Experian and tell them of the mistake and they record the fact that the information recorded is disputed by you and is pending investigation. So at least this puts on notice anyone who is searching against your details and might be mislead by inaccurate info. If memory serves correctly, I think when you do this Experian also write to the company concerned to tell them that you dispute the information it has recorded and then there are time limits within which they must reply to you about getting it corrected.

If you google "Information Commissioner" there's some info. about data protection and the regulations surrounding data protection which might help if you encounter difficulties.

The Post Office is the only one I'm having difficulty with - they have so far told me that I have to request a form from Experian called a "CAIS" form and send this to them before they can correct the incorrect info. Apparently financial institutions like banks and credit card companies don't need you to do this as they go direct to Experian but other companies like the Post Office can't do so. Not sure if this is true but that what they're telling me at the moment!

Anyway I found it pretty painless and worthwhile doing - good luck!

Regards,