Law Talk: Legally talking about your credit
Everyone is entitled to view their credit report. If you have reviewed your report and found your credit report contains inaccurate or incorrect information you should get it corrected immediately.
If you want to have information changed on your credit report, you must provide written notice to the credit reporting agency, detailing why the information is incorrect or incomplete. If you can show that the information contained in your credit report is incorrect then as per the Ontario Consumer Protection Act, 2002 the credit reporting agency must delete or correct the inaccurate information.
If you are trying to correct an inaccuracy in your Trans Union credit file you must include the following information in your written notice; name, address, date of birth, home phone number, current address, employer's name, the name of the company you have a dispute with (from your credit report), account number of the dispute item (if available from your credit report), reasons for your dispute, and, any corrections to your personal information. You can mail your request to Trans Union at P.O. Box 338 LCD 1, Hamilton, Ontario, L8L 7W2. You can also make a request for a correction to your credit report by going to www.tus.ca and completing an online application.
If you are trying to correct an inaccuracy in your Equifax credit file you are required to fill out a “Consumer Credit Update Form” which can be found at www.equifax.ca. Once this form is complete you must either write, telephone, or email a request for correction to Equifax (address, telephone number and email address are provided online).
Once Equifax or Trans Union receives your dispute they will consider the information you have provided and possibly investigate the matter. If the corrections are made to your credit report the credit reporting agency must provide an updated and accurate report to anyone given the previous inaccurate credit report, within 60 days of the correction.
If the disputed information is found to be correct then no changes will be made to your file. However, if you still feel the information in your credit report is inaccurate or incomplete you can contact the Ministry of Government Services (MGS). The MGS will determine whether or not the reporting agency should be charged for providing fraudulent information, or if the information should be changed on your record. To file a complaint with the MGS, visit their website at www.mgs.gov.on.ca.