How can a borrower dispute incorrect information on their credit report?

The process for a borrower to dispute incorrect information on their credit report involves contacting the credit reporting agency and filing a dispute. This is the correct approach because credit reporting agencies have a legal obligation to investigate disputes regarding incorrect information. When a borrower identifies an error, they can submit a dispute formally, typically providing any evidence that supports their claim. The credit reporting agency will then investigate the claim, which may involve contacting the entity that provided the information for verification.

Other options, while intuitive, do not effectively resolve the issue. Ignoring the incorrect information expects it to rectify itself, which is unlikely and can have ongoing negative effects on the borrower's credit score. Contacting the lender directly may not resolve the issue, as the lender may not be responsible for the errors on the credit report unless they are the ones who reported the inaccurate information. Finally, publicly announcing the error is not a constructive or appropriate method for dispute resolution and does not address the formal processes involved. Thus, filing a dispute with the credit reporting agency is the proper course of action for borrowers experiencing inaccuracies on their credit reports.