If a borrower finds an error on their credit report, what should they do?

Disputing the error with the credit reporting agency is the most appropriate step for a borrower who identifies an inaccuracy on their credit report. Credit reporting agencies are responsible for maintaining the accuracy of the information they provide, and they are legally obligated to investigate disputes submitted by consumers. By formally disputing the error, the borrower ensures that the agency will review the information, verify its accuracy, and correct any mistakes.

This process not only helps in rectifying the specific issue but also improves the overall integrity of the credit reporting system. Once the borrower submits a dispute, the credit reporting agency typically has 30 days to investigate and respond. If the investigation finds that the information is indeed incorrect, it will be removed or corrected, which ultimately benefits the borrower's credit score and their ability to secure financing in the future.