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Under the Fair Credit Reporting Act, if your application is denied due to an error on your credit report, the lender must provide the name of the bureau that supplied them with the report. You can then request your own copy for free within 30 days and see where the error was made.
You can then address the mistake and have it corrected as quickly as possible. Once this is done, the credit report companies that supplied the document must re-issue corrected reports to any lenders that received it within the previous six months. Your application can then be reviewed once again with the correct information.
While this may be an inconvenience and throw off your timetable, credit report federal law at least provides you with a solid course of action to take in order to correct the problem. If your are not satisfied with the correction made by the bureau, you are allowed to attach a brief statement of 100 words or less to your credit report, clarifying the issue.
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