How to Fix Errors on Your Credit Report

Contact the credit bureaus

It’s a good idea to review all three of your reports from the credit bureaus (TransUnion, Equifax, and Experian) to look for errors. If you see inaccurate information on your credit report, such as a misspelled name, incorrect address, or an inaccurate payment history or account status, contact the bureau that created the report as soon as possible. You'll need to provide proof documentation to back up your claim. For instance, if your name is misspelled or an incorrect address is listed, supply the bureau with a copy of your driver's license, passport, or recent utility bill that shows your correct information.

The investigation

If the incorrect information is related to an account, the bureau will discuss it with the appropriate financial institution. For instance, if you are disputing a late credit card payment, the credit bureau will contact the credit card issuer to investigate. Remember that only inaccurate information can be removed from your credit report. Negative information that is correct must stay on your report for as long as the law stipulates.

Credit bureaus are subject to the provincial laws, and most provinces stipulate that the bureaus have 30 days to investigate the error and respond to the consumer. It's best not to apply for any new credit until the dispute is resolved. If the dispute results in a change to your credit report, the credit bureau will notify credit grantors.

If you are unsatisfied with the results of the investigation, you can place a statement on your credit report explaining your disagreement. This statement can be up to 100 words in length (or 200 in Saskatchewan), though should be as concise and to the point as possible. You’ll need to contact each bureau individually to place a statement on your credit reports. 

Contact the financial institutions

To help expedite the process, you can also contact the relevant financial institution to alert them of the error. Provide them with a copy of the same proof documentation that you sent to the bureau. If the financial institution contends that the disputed information is accurate, you can file a complaint with them.

Be cautious of hiring credit repair firms

Be cautious when employing a credit repair firm to correct errors or dispute negative information on your report. Often, these repair firms only make matters worse by requiring payment for services that didn't produce any results. Credit repair firms may promise you that they can fix your bad credit, but in reality there is no magic wand or secret strategy to do this. Repair agencies simply do what you can do yourself: Contact the credit bureaus to dispute negative information. But negative information can only legally be removed from your report if it is inaccurate. Bankruptcies, collection accounts, and derogatory payments must all stay on your report for the length of time specified by the law.  

Is it identity theft?

Reviewing your credit report also alerts you to any signs of identity fraud. If you see accounts or credit inquiries that you don't recognize, it's possible that an identity thief has opened a line of credit or taken out a loan in your name. Contact the lending institution listed on the credit report to get more information about the account. Ask them to close the account and remove it from your credit report. You'll also need to contact the appropriate police authorities and to report the identity theft fraud. 

Contact information to file a dispute

The contact information to dispute errors with each bureau is as follows:

Equifax Canada
Consumer Relations Department
Box 190 Jean Talon Station
Montreal, Quebec H1S 2Z2
1-800-465-7166 (8:00 am to 5:00 pm ET)

Experian
Download the Experian dispute form and mail it to:
Experian Canada, Inc.
150 King Street West
Suite 805
PO Box 68
Toronto, Ontario
M5H-1J9
or fax to 1-800-646-5876

TransUnion
Download the TransUnion dispute form and mail it to: TransUnion Consumer Relations Center
PO Box 338, LCD1
Hamilton, Ontario
L8L 7W2
Outside of Quebec: 1-800-663-9980 (Monday-Friday 8:00 am to 8:00 pm ET
Quebec: 1-877-713-3393 (Monday-Thursday 8:00 am to 5:00 pm ET and Friday 8:30 am to 4:30 pm)