The Consumer Financial Protection Bureau today announced that If you’re trying to correct an error in your credit report at one of the nation’s largest credit reporting companies, there is some good news. Recently, Equifax, Experian, and TransUnion added a function to their online dispute-handling systems that allow consumers to upload supporting documents such as a paid bill, letters, a police report, or proof of identity information to help explain their disputes.
Millions of Americans dispute errors in their credit report. In 2011, Equifax, Experian, and TransUnion together received about 8 million requests disputing the accuracy of information in credit reports.
Upon receipt of your dispute, the credit reporting agencies are required to send dispute to the furnisher, such as a bank or debt collector that reported the credit information to the agencies. Both the furnisher and agency are required to conduct reasonable investigations in this process of the consumer's dispute. .