You can only dispute the information on your credit report that is inaccurate or incomplete.
The law does not permit removal of negative information that is accurate. Which means that any information that has been reported inaccurately or is updated on your credit report such as your address, name, accounts that do not belong to you, all payments that have not been reported or inaccurate reported as late can be changed in your credit report.
Information on the credit report that can be disputed:
- Incorrect reporting of a credit account as late.
- A paid off account still showing as charged off.
- Incorrect name spellings.
- Account that does not belong to you.
- Late / Unpaid Account that has been on the report for more than 7 years.
- Collection account that does not belong to you.
The mistakes on the credit report may be due to inaccurate reporting on the part of the creditor or a mistake happening during transcription by the credit bureau.
You can either ask the creditor to correct information like name spellings, account status etc. You can also file a dispute with the credit bureau to correct information like removal of accounts if they are not valid.
If any change in the credit report happens as a result of a dispute you can ask the credit bureaus to send an updated credit file to any creditors who have reviewed your credit report in the past six months. Also if the information is changed on the credit file due to a dispute then the lender is supposed to inform the rest of the credit bureaus who which might be reporting to.