Repair Credit Problems

It can be time-consuming and frustrating to repair credit problems arising from identity theft. The good news is there are laws that establish procedures for correcting credit reporting and billing errors and for stopping debt collectors from contacting you about debts you don't owe.

The Consumer Reporting Act establishes procedures for correcting mistakes on your credit record.

Dealing with credit agencies

To protect your rights under the law, contact both the credit agency and the information provider. First, call the credit agency and then follow up in writing. Tell them what information you believe is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report that you dispute, give the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your credit agency, highlighting the items in question. Send your letter by certified mail, and request a return receipt so you can document what the credit agency received and when they received it. Keep copies of your dispute letter and enclosures. Once the file has been corrected, the agency must notify anyone who has been given the old report within 60 days in advance of the correction. In addition, at the request of the consumer, the agency must notify persons who received the incorrect report within the previous six months to one year, depending on the circumstances and the type of information contained in the report. If your problem is not resolved, contact the Registrar of Consumer Reporting Agencies in the Ministry of Small Business and Consumer Services at 1-800-889-9768.

Dealing with creditors/information providers

In addition to writing to the credit agency, tell the creditor or other information providers in writing that you dispute an item. Again, include copies (NOT originals) of documents that support your position. Many information providers specify an address for disputes. If the information provider then reports the item to any credit agency, it must include a notice of your dispute. In addition, if you are correct - that is, if the disputed information is not accurate - the information provider may not use it again.

Additional Resources

For more information, consult the Ministry of Small Business and Consumer Services at www.sbe.gov.on.ca.