Short answer: you can dispute a wrong late payment, balance or other loan entry in two places, and both are free. The credit bureau must investigate, generally within 30 days of receiving your dispute (15 U.S.C. 1681i(a)(1)). The lender that reported it must also investigate a dispute you send it directly, within the same time, if you send it to the right address with the right information (12 CFR 1022.43). If either finds the entry wrong, it must be corrected or deleted.
Two ways to dispute
| With the credit bureau | Directly with the lender | |
|---|---|---|
| Rule | 15 U.S.C. 1681i | 12 CFR 1022.43 |
| Cost | Free of charge (1681i(a)(1)) | No fee is set out in the rule |
| Where to send | Each bureau that shows the error | The address on your credit report for that lender, an address the lender gave you for disputes, or, if it gave none, any business address (1022.43(c)) |
| Time to finish | 30 days from receipt, up to 15 more if you send relevant information during the 30 days (1681i(a)(1)) | The same period a bureau would have (1022.43(e)(3)) |
| If it was wrong | The bureau must promptly delete or correct the item and tell the lender (1681i(a)(5)) | The lender must promptly tell every bureau it reported to and send the correction (1022.43(e)(4)) |
Within 5 business days of receiving your dispute, the bureau must pass it, with the relevant information you sent, to the lender that reported the item (1681i(a)(2)). Disputing with both is allowed; the FTC suggests contacting both the bureau and the business that supplied the information (FTC).
What to send
The direct dispute rule lists what a lender needs, and it is a good checklist for a bureau dispute too (12 CFR 1022.43(d)):
- Enough to identify the account, such as the account number, your name, address and phone number.
- The specific item you dispute and why it is wrong. One item per point keeps it clear: "the payment due March 5 was paid on March 3", not "my report is wrong".
- Supporting documents, such as the relevant part of your credit report, account statements, a bank record of the payment, a court order, or for fraud a police report or identity theft affidavit.
- Keep copies of everything and a record of the date you sent it.
A lender does not have to investigate a direct dispute about things like your address or employer, inquiries, or information another company reported, or one it reasonably believes comes from a credit repair organization (1022.43(b)). Those can go to the bureau. A dispute without enough information, or a repeat with nothing new, can be treated as frivolous; you must then be told why within 5 business days and what information is needed (1022.43(f), 1681i(a)(3)).
A dated example
Example only; made-up dates to show the counting. The 30-day period begins on the day the bureau receives your dispute.
| Date | What happens |
|---|---|
| Monday, November 2, 2026 | The bureau receives your dispute (day 1) |
| Within 5 business days | The bureau notifies the lender that reported the item (1681i(a)(2)) |
| Tuesday, December 1, 2026 | Day 30: end of the investigation period |
| Wednesday, December 16, 2026 | Latest end if you sent relevant new information during the 30 days (15 more days) |
| Within 5 business days after it finishes | Written results, plus a free copy of your report as revised (1681i(a)(6)) |
If the error stays
- Add a brief statement of the dispute to your file; the bureau may limit it to 100 words, and later reports must note that the item is disputed (1681i(b) and (c)).
- If the item was deleted, it can only come back if the lender certifies it is complete and accurate, and the bureau must tell you in writing within 5 business days (1681i(a)(5)(B)).
- Send new documents if you have them; a dispute with new information is not a repeat (1022.43(f)(1)(ii)).
- File a complaint; see how to file a loan complaint. If the loan is not yours at all, see a loan taken out in your name.
Before you start, get your reports and find every entry for the loan; see check your credit report. This guide explains federal rules in general terms and is not legal advice.
Start your loan request How our service works
Disclosure: Modern Lending Solutions is not a lender, loan broker or agent for any lender or loan broker, and does not make credit decisions. Any compensation we receive is paid by participating lenders, only for advertising services. This guide is general information, not financial or legal advice.