What should a consumer do if they discover inaccuracies on their credit report?

When a consumer discovers inaccuracies on their credit report, the most appropriate course of action is to dispute the information with the reporting agency. Under the Fair Credit Reporting Act (FCRA), consumers have the right to dispute any information they believe is incorrect or incomplete. This process allows the consumer to formally notify the credit reporting agency of the inaccuracies, prompting an investigation into the matter.

The reporting agency is then required to investigate the dispute, typically within 30 days, and must provide the consumer with the results of this investigation. If the dispute is found to be valid, the agency must correct or delete the inaccurate information from the consumer's credit report. This mechanism is crucial, as maintaining an accurate credit report is essential for consumers seeking credit.

While other options may seem relevant, such as filing a complaint with the government or contacting the furnisher of the information, the most effective and immediate remedy is to directly dispute the information with the credit reporting agency. This process is a fundamental right under the FCRA and is designed to protect consumers from the negative impacts of erroneous information on their credit reports.