If the information in your credit report is just plain wrong, who is responsible for cleaning it up? The way things are supposed to work is like this. Both the reporting company (the one keeping the data) and the information provider (the creditor sending information) are assigned the task of making sure information is both accurate and complete. When you notice something amiss in your report, you should contact both the company that provided the information and the agency that reported it. But how does this work exactly?

First, it is important to do all of this in writing. Point out the inaccurate information to the consumer reporting company. Unless they deem that the dispute is frivolous, they are required to review the questionable entries within 30 days. In addition, they must forward your communication along to the company that provided the potentially inaccurate information.

Likewise, as soon as the provider receives the forwarded dispute, they are bound to conduct an investigation of the relevant data and respond back to the consumer reporting agency. However, if it turns out that the information you dispute is truly inaccurate, the provider is required to contact all three of the nationwide consumer reporting companies. This means that contacting providers through one reporting company is sufficient for correcting the erroneous entry at all three reporting companies.

After concluding the investigation, you should receive two things from the reporting company: written results of the inquiry and a free copy of your report if there are any changes. In this case, the free report does not count against the annual free report provided for by law.

Once wrong information is removed or corrected, it cannot be put back into your report without additional verification from the information provider. Plus, if this does happen, the reporting company must contact you in writing and provide contact information for the information provider.

You should not necessarily count on the reporting company to keep the information provider informed. If you are disputing an item, contact the creditor in writing. The appropriate address is most likely listed on your monthly statement. Whenever the disputed item is communicated to the reporting agency, your dispute must be included. After the matter is resolved, any inaccurate information may not be reported again.

If inaccurate information is not removed or corrected, you should request that information about your dispute be included in future reports and in your file. You can also request that the statement be sent to anyone who has recently received your credit report. There may be a fee for this. In the same way, information providers must include a notice of your dispute any time the associated information is reported.