Have you found errors on your creit report? Here's how to...

DOLLARS AND SENSE

June 13, 1993|By Knight-Ridder News Service

Have you found errors on your creit report? Here's how to have them corrected.

Most credit reports include a dispute form to challenge any part of the report.

Under federal law, credit-reporting agencies must resolve disputes in a "reasonable"time period, but the law, does not define "reasonable."

However, most of the large credit-reporting services -- the biggest are TRW, Equifax and Trans Union have a self-emposed limit of 30 days. Smaller firms may take longer.

If a problem is not resolved in 30 days, the firm may opt to remove the blemish from your record. Meanwhile, if you have been denied credit because of error ask the reporting agency to write a letter on your behalf.' If a big portion of your report was wrong, chances are good that the agency mixed yourrecords with someone else's. That problem often occurs with people who have common names, such John Smith.

To prevent such mix-ups use middle initials on credit applications and official documents. People who share family names should use Jr,. Sr., 3rd., etc.

Credit-reporting errors can be hard to fix, so stay on top of this matter until the problem is resolved. If you find yourself getting nowhere, talk with a supervisor at the agency that issued the report.

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