How do I get a bank to correct errors madeon my credit report?

UPDATED: Apr 17, 2011

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How do I get a bank to correct errors madeon my credit report?

I have a mortgage that has been incorrectly reported to the 3 credit reporting agencies as being late on several months. We have all the receipts for the payments and sent them to loan servicer. It sent us a letter stating that it was in error and would fix the negative notations. However that was months ago and it is still has not been done. this is keeping us from buying another home. Because the mortgage is in both ournames it is on both our credit reports but with completely different information on each – months that are reported late on mine are reported OK on hers and vise a versa. We have since repeatedly contacted both the loan servicer and the credit agencies by registered mail; we have also opened a case with the OCC. Do we need to file in court to fix this or is their something else that we can do?

Asked on April 17, 2011 under General Practice, Alabama


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The Office of the Comptroller of the Currency (the OCC) is the agency that regulates national association banks. So if your servicer/lender are regulated by the OCC, filing a complaint with that agency and following up with the Customer Assistance Group consistently should help. Further, there are really four credit agencies (the lesser known one yet the one most in the industry use is Innovis). Now that you have filed your complaint and tried to rectify this at the lender/servicer level, you now need to file the dispute with all four credit reporting agencies for each of you (wife and husband) and include all proof in an easily readable format to then send to the agencies. This is free of charge because now the agencies must investigate it. It can be either resolved to the way you want it to appear (make sure you include how you wish for it to appear), include other issues like rectifying late charges and interest on those, or the investigation may show that more needs to be done. Either way, before you seek counsel, try the credit reporting dispute method first.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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