1.   You, the consumer, have the right to challenge the accuracy of your credit report any time.

2.   The credit bureaus must reinvestigate anything you challenge without charge.

3.   The credit bureaus must reinvestigate within a reasonable amount of time.  30 days constitutes a “reasonable time” unless the bureau notifies you otherwise (keep accurate records).

4.   If the credit bureau finds an error in the challenged item, they must delete or correct that information in your file immediately.

5.   If the credit bureaus cannot or do not confirm the challenged item within 30 days, they must delete that information from your files immediately.

6.   You have the right to submit a Consumer Statement of your view of the problem.  If you, as a credit consumer, dispute the accuracy of certain information in your credit report and it is verified by the creditor as correct, then the credit bureau is required to include your explanation of your dispute, if you request, in your credit report.  Limit your explanation to no more than 100 words.

If you agree to make payment arrangements with any creditor, do so only under one condition.  The condition is that before you pay any money, the creditor must mail you a written agreement that they will report the account to the Credit Bureaus as current, paid off and never late.  Otherwise, it may still remain on your credit file and may not be worth paying at that particular time.