Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The record a credit information company holds of your borrowing, carrying a month-by-month payment status for each account and retained for a period the regulations cap.
Every entry is reported by the lender, not by you — so correcting one means getting the lender to report something different, not arguing with the bureau.
The process for correcting a wrong entry in a credit information report, under which the lender is asked to verify and the regulator has set periods for resolution.
It fixes a wrong entry, not a correct entry you dislike. The bureau reports what the lender supplies, so a real dispute is won against the lender.