Equifax's Enhanced Dispute Resolution Process

The sheer size and velocity of credit reporting in the U.S. is staggering. Equifax, for example, maintains active credit histories for nearly 200 million U.S. consumers as reported by over 15,000 data providers such as credit card companies, banks and other financial institutions, and other sources of financial information. To keep pace with the dynamic and fast moving American economy, Equifax alone makes approximately 2 billion updates each month to its consumer reporting database so that its records are accurate and up-to-date, based on the information provided to Equifax.

While no other credit reporting system in the world compares to the U.S. credit reporting system, it is possible that, as in any complex data system, inaccurate or incomplete information may occur in your credit report. And now, Equifax is making your Dispute Resolution process as quick and simple as possible. Find out what steps we take to see that your concerns are addressed.

If you discover information that you believe is incomplete or items you consider inaccurate on your credit report, you have several options. You may contact the creditor in question directly. If you are able to resolve the inaccuracy, the creditor should provide Equifax with updated information, and we will, in turn, update your Equifax credit report.

Alternatively, Equifax has made it easier for members to enter an online dispute through a convenient link from the Member Center. Log into your Member Center and view your most recent Equifax Credit Report (if available) or order a new report. Once you are able to view your report, locate and click on the "Dispute File Information" link to view an interactive version of your report, making it easy to initiate the dispute process. If you already have your Equifax Report Confirmation number, you may also initiate an online dispute at www.investigate.equifax.com. Equifax introduced this enhanced dispute resolution system to provide you a convenient and efficient way to dispute information on your Equifax credit report — completely free of charge.

What happens when you dispute:

Step 1: You receive a copy of your Equifax Credit Report
Step 2: You dispute any inaccuracies on your credit report with Equifax
Step 3: Equifax conducts a reasonable investigation of your dispute
Step 4: Equifax updates your credit report, if necessary, based on the results of investigation. If the disputed information is verified to Equifax as accurate, the information will remain in your credit report.
Step 5: Results are delivered to you within 30 days (or 45 days if you disputed information from your annual free credit file)

By offering an online dispute option, we hope to keep consumers informed by allowing them to track their disputes online as well as receive periodic e-mails regarding the status of their disputes. While we hope you never find an inaccuracy in your credit report, now it's easier than ever to take action.

Log into the Member Center Now

Tip of the Month: Finding and Using your Report Confirmation Number

Your Credit Report Confirmation Number is located at the top of your Equifax Credit Report. It’s a unique identifier for Equifax to locate your information and allows you to quickly and easily initiate a dispute regarding your credit report. If you have recently received a credit report from Equifax — or are subscribed to an Equifax credit monitoring service — you can log into your Member Center to find your Report Confirmation Number. This number is preferred (though not required) when initiating an online dispute but is required to initiate a dispute over the phone, or by mail. For more information about how to enter a dispute by phone or mail, please login to the Member Center, and visit the Dispute File Information link, accessible through the Credit Report tab. If you already have your Equifax Report Confirmation number handy, you may also initiate an online dispute at www.investigate.equifax.com.

This Month’s Poll Question:

While we hope that your credit files have always been thorough and correct, we would like to know if you've ever relied
on the Equifax dispute resolution process. Look in next month's newsletter to see how many readers have — and what they thought of it!

Have you ever utilized the Equifax dispute process?* ( surveys)

Previous Poll Results:

Recently we asked what worries you most about the current economic situation. A majority of responders (59%) were most concerned about 401k and savings being at risk. The next largest concern (19%) related to losing home equity followed by declining credit scores (9%), cut credit lines (7%), and inability to get a mortgage (6%). While an uncertain economic future can be unsettling, understanding your credit and its health is beneficial in any economy. Find out more about credit at Learn.Equifax.com/credit.

Interactive Tool: Test Your Knowledge with the Equifax Credit Quiz

Your credit history can play a vital role in your life and can impact everything from getting a loan to renting an apartment and even qualifying you for a job. Now more than ever, it's important you have the facts about credit. The Equifax Credit Quiz is a quick and simple way to test your knowledge!

Did You Know?: What's In Your Credit File

When it comes to your credit file, it's what you don't know that could hurt you. Mortgage companies check your credit file to find out about your payment history, and sometimes even small errors could impact the interest rate you receive and cost you money in the long run. So when you get your credit report, it's important to review it carefully! If you see anything that you forgot about, such as a bill that you didn’t pay, you should act right away to address it.

Make sure your credit report is accurate by looking for the following:

Incorrect or incomplete personal information (name, address, etc.)
Accounts that you never opened
Accounts that you've closed but appear open and do not list "closed by consumer"
Accounts with inaccurate histories (e.g. payments listed as "late" when you know they were on time)
Negative credit information exceeding seven to ten years from the date of last activity (depending on the item)