Credit disputes should always be based on factual inaccuracies. Disputing legitimate errors on a credit report helps to ensure the accuracy of your credit history and protect your financial well-being.
20 Factual Errors To Look For On Your Credit Reports
Personal Information Errors
- Incorrect Name: Misspellings, nicknames, or aliases used instead of your legal name.
- Wrong Address: Old addresses or addresses you’ve never lived at.
- Incorrect Social Security Number: Even a single digit error can cause major problems.
- Mixed File: Accounts or information belonging to someone else with a similar name or SSN.
Account Errors
- Accounts That Don’t Belong to You: Fraudulent accounts opened in your name due to identity theft.
- Closed Accounts Reported as Open: Accounts you’ve closed that still show as active.
- Incorrect Account Status: Accounts inaccurately reported as late, delinquent, or in collections.
- Duplicate Accounts: The same debt listed multiple times.
- Inaccurate Credit Limits or Balances: Incorrect reporting of your credit limit or outstanding balance.
- Incorrect Date of Account Opening/Closing: A wrong date can affect the age of your credit history or make it seem like you have more open accounts than you do.
- Inaccurate Payment History: Late payments incorrectly reported when you paid on time, or on-time payments showing as late.
- Incorrect Account Type: A loan showing as a credit card, or vice versa, can impact how creditors view your credit mix.
- Authorized User Errors: Being listed as an authorized user on an account you were never associated with, or not being listed on one you were.
- Incorrect Debt Amount: The amount owed on an account is higher or lower than your actual balance. This type of factual dispute can be applied to charge-off amounts.
Credit Inquiry Errors
- Unauthorized Hard Inquiries: Hard inquiries from creditors you didn’t apply with, indicating potential identity theft or unauthorized access to your credit.
- Inquiries Listed Multiple Times: The same inquiry appearing more than once, potentially lowering your score unnecessarily.
Other Errors
- Outdated Personal Information and accounts: Changes in marital status, employment, or phone number not reflected on your report. And, more importantly, outdated negative accounts that should have been removed after the 7 year reporting timeline.
- Incorrectly Reported Consumer Statements: Notes or statements on your report that are inaccurate or misleading.
- Errors Related to Identity Theft: Fraudulent activity, such as new accounts or addresses linked to your identity due to identity theft.
- Incorrect Public Records: Inaccurate reporting of bankruptcies, liens, or judgments.
Final takeaway
Be sure to obtain your reports from all three bureaus because each bureau may have different information. Don’t just skim your reports, look closely at every detail to discover factual errors by comparing your records like bank statements, credit card statements, and other financial documents.
