Consumer Statement: What It Is And How To Get One

Highlights:

• A Consumer Statement is an optional statement of up to 100 words that you can add to your Equifax^® credit report.
• You can add a Consumer Statement to explain negative, yet accurate, information.
• If you disagree with the outcome of a dispute, you can add a Consumer Statement as an explanation.

Your credit report is a detailed summary of your credit habits over time. It includes your personal information, your payment history, and your accounts. Sometimes, there may be inaccurate or incomplete information on your credit report. If you notice this, you can contact the lender or creditor to investigate. You can also file a dispute with the credit agency directly. But, the dispute decision may not go in your favor. When that happens, you can submit a Consumer Statement.

What is a Consumer Statement?

A Consumer Statement is an optional statement of up to 100 words that you can add to your Equifax credit report. You can use it to explain a disagreement with the outcome of a dispute investigation. It also provides more information about items on your Equifax credit report. Lenders will see the Consumer Statement when they view your Equifax credit report. A Consumer Statement will not change accurate information. It will also most likely not impact your credit scores. But, providing details for a lender may help them better check your credit behavior.

Why should I add a Consumer Statement to my credit file?

There are several reasons you may want to add a Consumer Statement to your credit file.

1. To explain negative, yet accurate, information on a particular account or several accounts. This can be helpful during times when you cannot make regular payments on a credit card or loan. This could happen if you became unemployed or became hurt or disabled. You can add a Consumer Statement to explain, “I was unable to work from March to December. When I got a new job, I started making regular payments.” Note: You should never include personal or medical details into your Consumer Statement. This is because anyone who sees your credit report can see your Consumer Statement.
2. If you disputed information on your credit report and disagree with the outcome. Sometimes, a dispute may not go the way you want. If this happens, you have the right to add a Consumer Statement. Be sure to describe your dispute or explain your point of view. For example, you may dispute a late payment on your credit report, but the creditor confirmed the late payment. This will cause the late payment to remain on your Equifax credit report. You could add a Consumer Statement to explain why you disagree with the creditor.

What do I do if I need to edit my Consumer Statement?

You can add, edit or delete a Consumer Statement on your Equifax credit report at any time. You can remove it at any time by calling us at 1-888-EQUIFAX (1-888-378-4329). You can also mail a written request to the following address:

Equifax Information Services
LLC PO Box 740256
Atlanta, GA 30374-0256

When you remove the Consumer Statement from your credit report, lenders will no longer see it.

Equifax makes it easy to add a Consumer Statement to your credit report

Adding a Consumer Statement to your Equifax credit report does not add it to your credit reports with TransUnion^® or Experian^®. It also does not add it to any other consumer reporting agency reports. If you want to add a Consumer Statement to those credit reports, you'll need to contact them. Don't forget, you won't always find the same information on your credit reports at all three nationwide consumer reporting agencies. This is because creditors or lenders may not report to all three of them.