Federal law mandates that credit reporting agencies investigate and promptly correct any errors consumers report to them.  An article in The Atlanta Journal-Constitution provides tips on how to protect oneself from an inaccurate credit report.  First, it is important for a consumer to review his/her reports.  Second, if there are errors, consumers should dispute the errors in writing and send the letter to the credit bureau by certified mail with a return receipt requested.  Third, notify the lender who may have sent the false information to the credit bureau.  Fourth, provide evidence, such as canceled checks or a letter from a creditor showing a balance was paid in full.  Fifth, complain to regulators, such as the Federal Trade Commission and the state office of consumer affairs.  Finally, if the credit bureau refuses to correct the error, talk to a lawyer who specializes in Fair Credit Reporting Act cases. Lawyers specializing in such cases can be found through the National Association of Consumer Advocates, www.naca.net.

The article also provides the following useful resources:

For more information about disputing credit report errors, go to: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.pdf

Federal Trade Commission report to Congress on the credit reporting dispute process: http://www.ftc.gov/os/comments/fcradispute/P044808fcradisputeprocessreporttocongress.pdf

National Consumer Law Center report on credit report disputes: http://www.nclc.org/issues/credit_reporting/content/automated_injustice.pdf

Source:  “Credit report fix turns fiasco.(Metro News).” The Atlanta Journal-Constitution (Atlanta, GA) (June 14, 2009).