How to dispute inaccuracies on your credit file

Table of Contents

Correcting inaccuracies on your credit file

If you pay your bills on time, and have a Good credit rating, an unexpected drop in your credit rating should be looked into accordingly. Signing up with a credit monitoring service can help with identify any possible issues as soon as they happen.

Keeping a regular check on your credit history and rating is important. Keeping on top of any possible inaccurate listings on your credit history should be dealt with in a timely manner. In Canada, there are two main credit bureaus, Equifax and TransUnion.

With both Equifax and TransUnion, if you spot any inaccuracies on your credit report, you can ask the credit bureau investigate. Note that only inaccurate info is removed from your report. They will contact the necessary parties to verify the actual information. If the information is proven to be false, then the actual information will then be updated on the file. Both Equifax and TransUnion provide this service for free.

Credit rating errors can end up costing you much more with higher interest rates on loans, and it can even prevent you from getting loans as well, so maintaining a good credit rating is highly advised.

Maintaining a Good Credit Rating

Pay bills on time. Avoid paying your bills late, and avoid having anything sent to a collection agency as this has a negative bearing on your credit score. Try to avoid running up the balance on your credit limit. It is also recommended that you keep your balance below 75% of the credit available.

To help maintain a good credit rating;

Regular Monitoring –  This will help with ensuring your file is correct, and help with and fraudulent activity, plus it can help you spot any areas that may need improving.

Your Credit Score. Keep track of your payment history, debt that is due, length of credit history, any recent credit applications and the various types of credit used.

Due Date. Accounts gone to collection agencies and any late payments can stay on your credit report for up to 6 years from the first delinquency date of the account. Keeping at least the minimum payment each month, can help with avoiding negative records on your account.

Regular Checkups. Your credit file is constantly changing as any information from your creditors is provided to the credit bureaus, so keeping on top of your file is important.

Starting the Dispute Process

With Equifax and TransUnion, both have online forms and phone options to start the dispute process. You will need to stipulate the information that is wrong or that does not pertain to your file. The information would then be verified on their end. Photo copies of all required documents and I.D. will be required with Equifax and TransUnion to properly update your credit report.

For more information, see the following links below

http://www.consumer.equifax.ca/dispute-ca/dispute_process/en_ca

http://www.transunion.ca/ca/personal/creditdisputes_en.page

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

The team at David Sklar and Associates Inc are very professional and are willing to help you get out of debt. Highly recommended.
Melissa MacKenzie
12:35 29 Mar 23
I would like to thank the team at David Sklar and associates inc. for all the time and effort they put in to support this process for me. This topic can be challenging to disclose but a big thank you to Christine for going above and beyond in guiding me through all my options and supporting me through the decisions. I cannot recommend this group enough , as they have shown me compassion , knowledge , and understanding throughout the entire process. I look forward to the next step of this process and learning how the proper way of becoming financially educated through the support of their financial counselling team. For anyone who is struggling , just know that there is a wonderful group of educated professionals at David Sklar who are available to help!
Michelle Plouffe
18:45 14 Mar 23
It took me awhile to get up the courage to contact David Sklar but I’m so glad I did. Trina walked through my options with me and provided the knowledge I needed to make a decision to help turn my financial situation around. She is patient and empathetic and answered any and every question that I had. Trina provided me the reassurance I needed that I was making the best decisions for me and my family. I’m so happy that I reached out and now have a plan to get back on track.
M. Mackenzie
19:59 12 Mar 23
Trina was very helpful and thorough.
Sam M
15:26 12 Mar 23
Christine was very helpful, kind, and understanding. She explained everything thoroughly, answered any questions I had, and was responsive to any concerns I had. 100% would recommend
Katherine Campbell
17:29 08 Mar 23
Jackie Stanley is excellent she took the time to explain everything to me and I am so grateful to her for giving me a fresh financial start so if you have any doubts don’t and go see her if you want to achieve financial freedom!
Heather Helfield
21:24 06 Mar 23
Amazing friendly staff that knows what they are going. They make a difficult situation not so bad. Would give 10 stars if I could.
alie Balan
22:37 25 Feb 23
Very helpful and kind and gave me all the available options before helping me decide which one was best for me. I would definitely recommend Jackie
Alison Rivard
01:01 21 Feb 23
Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
js_loader
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

Contact Us