One in five people have errors on their credit report

How to repair your credit report

TAMPA - Mortgage rates and car loan interest rates are connected to your credit score.  The Federal Trade Commission found that 80 percent of those who dispute the errors get results.

Every consumer should pull a copy of their credit report annually.  It's free at annualcreditreport.com .  Then you will want to send the investigative report through certified mail and make sure you are not mailing any original copies of your document.

Linda Pichler with the consumer credit counseling agency CredAbility says receipt of your dispute starts the clock ticking.

By law, that credit reporting agency has 30 days to try and resolve that issue. Within that 30 days, they are going to know and advise whether the error was corrected or if its going to stay there.

You'll need to take your case directly to the creditor if they maintain the debt is still outstanding.

If you've attempted all of the above and are still unable to resolve the problem on your own you can file a case with the Consumer Financial Protection Bureau, a government agency that recently began regulating and monitoring consumer reporting agencies.

Find out more about the Consumer Financial Protection Bureau at  http://www.consumerfinance.gov/ .

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