Disputing Information on Your Credit Report
If there is information in your Experian credit report that is incorrect, you can dispute that information quickly and easily by going online to experian.com/disputes. When submitting your dispute, you should give a clear and concise explanation of why you feel the information is incorrect so that Experian can communicate the issue effectively with the company reporting the account.
In some instances, you may have documentation that supports your dispute. If so, you can upload and submit the documentation online as well. Any information provided will be reviewed when processing your dispute.
Contact the Lender if You Believe There Was an Error
In your case, you mentioned that you believe the late payment may have been the fault of the dealership where you traded in your vehicle. If so, you may want to contact the dealership to inquire about the payment that was made, and request any documentation they may have to show what transpired.
You may also want to contact your lender directly and explain the circumstances behind the late payment. Although you are ultimately responsible for making sure every payment on your account is made on time, your lender may still be willing to work with you if you are able to show that the dealership caused a delay.
If your lender agrees that an adjustment should be made and the late payment should be removed, they can then contact Experian to request that the information be updated.
Adding a Statement of Explanation
If you are unable to reach an agreement with the lender and the late payment remains on your report, you are correct that you can add a personal statement to the account explaining the circumstances behind the delinquency.
Any statement you add will remain for as long as the account is listed on your credit report, or until you request that the statement be removed. Late payments are automatically removed from the credit report after seven years.
Thank you for asking,
The “Ask Experian” Team