There can be errors on your credit report for many reasons and you
should take immediate action to correct them. Many people's credit
histories have been ruined by errors in a credit report.
Inaccuracies
in a credit report can be due to simple human error. For example, a
credit provider may fail to give information to one or more credit
reporting agencies in a timely manner, or may not report it at all. Or
the inaccuracy may be due to faulty data entry at a credit reporting
agency. Whatever the reason, it is important to take steps to correct
the record as soon as possible.
Credit reporting agencies and credit providers are required by law
to
ensure that your credit information is accurate, up to date, complete
and not misleading. Where you consider that your information is
inaccurate or not up to date you may request that the agency or
provider alter your information. You can do this by:
- making a written request to the credit provider or reporting
agency;
- identifying the information which is inaccurate; and
- requesting that the inaccuracy be amended.
If the credit reporting agency or provider confirms that an
inaccuracy
exists and amends the information, you may request that certain people
who have accessed your file in the last 3 months be notified of
the
amendment.
If you are unable
to resolve the matter with the credit reporting agency or credit
provider, under dispute resolution processes set out in accordance with
the Credit Reporting Code of Conduct you are entitled to refer the
matter to the
Privacy
Commissioner.
Credit report errors due to identity theft are on the rise. As
important as it has always been to correct issues caused by human error
as quickly as possible, it is even more important to immediately
correct the ones intentionally caused by identity thieves.
To find our more information about identity theft and ways to
protect yourself, link to the sites below:
AUSTRAC
Australian
Federal Police
Commonwealth
Attorney General's Department
Privacy
Commissioner
