The full explanation
According to the CFPB, a credit reporting company that matches information to a person only because the names are identical or similar is not using reasonable procedures to keep its reports accurate. If your report shows accounts, debts or addresses that are not yours, you can dispute them in writing with the credit reporting company and with the company that supplied the information.
An example
Reviewing his report, Juan Carlos García finds a card in collections and an address in another state. They belong to a different Juan Carlos García. He sends a written dispute to the credit reporting company and to the company that reported the debt, with copies of documents that back him up.
You will see it in…
- Your credit report, in your personal information and the list of accounts
- The dispute letter you send to the credit reporting company
- An adverse action notice, if you are denied credit because of information that is not yours
