Fix Credit Report Errors
Credit Report Mistakes
If you find a mistake on your credit report, report it immediately. It can take some time to clear these issues up as it usually requires contacting the company that reported the information and as you can imagine researching and fixing credit report mistakes isn't going to be their highest priority. In addition, once the mistake is confirmed and it can take even more time to come off your record. Do not wait. Report everything immediately.
The credit bureaus each allow you to put a note in your credit history if there is some dispute.
Do this only if the note says that there is a mistake or misrepresentation. Do not put in a note explaining why you didn't make a payment. A note that says "We were moving and forgot to pay" is worse than no information at all because not only did you admit that you were late with the payment, but now it shows that you think there are times when it is ok to be late. This is bad news.
However, if there is fact problem and it can't be cleared up, a note is better than nothing. For example, "This account was opened fraudulently by my brother and has been reported both to the company and law enforcement" might be helpful.
It is important to put your flag in right away. It sounds much more credible if the information has been flagged for a long time. Otherwise, there might be a suspicion that you just did it last month because you are trying to apply for a loan.
I wish I could detail some good information here about how to report mistakes and flag inaccuracies, but unfortunately it varies by credit company and it changes. So, check their website and find it. Do not give up. It is important. Keep at it.