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Correction Request

Definition of 'Correction Request'

A correction request is a notification by you to credit reference agencies of credit report erro

A correction request is a notification by you to credit reference agencies of credit report errors you find, where you are battling with the credit provider to put things right.

Your first point of call with credit report errors involving payment history is always the credit provider. But if you are getting nowhere with the credit provider, which at the end of the day put the data on your credit report in the first place, you need to lodge a correction request.

The credit reference agency has 30 days under the law to investigate provide a response to a reported error. 30 days may seem long, but the credit reference agency must, in most cases, contact the credit provider that has supplied the erroneous data to it.

Correction requests are dealt with by special resolution teams who normally won't speak with you while they are going through this process.

Often they are unable to discuss the progress of your correction request over the phone. You should expect an initial acknowledgment, then a letter once the credit reference agency has dealt with the correction request.

If a correction is made to your credit report, under the Privacy Act the credit reference agency must notify anyone who has seen your credit report over the previous the three months.

If you are not happy with the outcome, you can complain. The credit reference agency then has 7 days to respond to your complaint and ultimately, if you are still not happy, you can complain to the Privacy Commissioner.

We can help you with this if you subscribe to our Credit Report Monitoring Service.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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