Why Disputing an Error in Your Credit Report Has Been a Frustrating Experience
If you've ever tried to fix a mistake on a credit report, until very recently, any proof you submitted to back up your complaint might have been ignored.
The Consumer Financial Protection Bureau, which regulates the credit reporting agencies that issue credit reports, has shed some light on how those complaints have been handled and has warned that things had better improve.
The CRAs handle only about 15 percent of consumer disputes themselves, the CFPB says, and use an electronic system called e-OSCAR to pass on the rest to "furnishers" — the companies that provide credit information to the CRAs and are supposed to investigate consumers' complaints, including any information provided by the consumer.
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