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How Do I Update Or Dispute Information On My Free Credit Report?

The Borrowell Team

Mar 01, 2020 4 min read

Update: Borrowell now offers weekly credit report updates. Sign up to regularly check your report for errors or changes.

If you spot an error on your credit report, it’s important to take action as soon as possible. Black marks on your credit history could lead to a lower score and make it more difficult to get additional credit or apply for a loan in the future.

If you find something that isn’t right, here are some tips to help figure out how to fix it. 

What is on a credit report?

A credit report is a document that reveals important information about your financial history and can give you insights into your overall financial health.

The report provides context for why your score is what it is to help improve it. You’ll be able to see all your trades and accounts, any inquiries about your credit, and your debts on your report.

Your credit report from Borrowell is maintained by Equifax, one of Canada’s two reporting credit bureaus. Borrowell sources your credit scores and reports from Equifax on a weekly basis. Equifax is responsible for updating information and fixing any issues.

What information is on my credit report?

Your credit report is used by banks and lenders to determine your creditworthiness which makes it vital if you are looking to get loans, credit cards or apply for a mortgage. 

Your credit report contains information about your financial and payment history. It can be helpful to see all of your open accounts and the number of credit inquiries (any checks on your credit, by a lender, for example) to ensure they were all done with your permission.

Personal Information  

You’ll see the personal information you provided Borrowell on your credit file, not necessarily what Equifax has on file. If it has been a while since you’ve applied for credit or you have changed your address, you may want to contact Equifax directly to make sure your information is up to date. You can reach them here: +1-866-828-5961. 

Credit Inquiries

You’ll be able to see any requests to check your credit, such as when a potential lender is reviewing your credit profile. It’s important to make sure these inquiries were done with your permission.

Trades and Accounts

You can now see any open or closed accounts that appear on your credit report such as credit cards, instalment loans, mortgages and mobile phone accounts.


Your report will also show any accounts that have been sent to collections, whether the balance(s) have been paid or unpaid. Be careful – when an account gets sent to collections it can have a negative impact on your credit score.  

Legal Items

Any public records you may have will also show on your credit report. This may include items such as a court judgment.


If you’ve ever filed for bankruptcy or a consumer proposal, it will appear on your credit report.

Are there things in my report that I can’t change?

Errors can be fixed, however, you can’t change what is true and accurate on your credit report. For example, if you forgot to make a credit card payment, this becomes a “negative item” and can stay there for years.

However, a bankruptcy or consumer proposal can stay even longer on your credit report – up to 14 years. There is good news though: these derogatory marks actually carry less weight in the credit scoring model as time passes.

How do I report an error or dispute something on my credit report?

Borrowell can't change or remove any item on your credit report. We provide this information free so that you can have visibility to your information with Equifax. However filing a dispute is free, whether you file yourself or use an agency, the outcome should be the same as long as you provide the required documentation. 

For other information on your credit report that you suspect is incorrect, we recommend contacting the financial institution or collections agency reporting this information first. If they verify they are reporting correctly to the credit bureau, your next step is to file a dispute with the credit bureau. Equifax will review the details you provide and may contact the source of the information to verify accuracy. If they find the reported information was incorrect or incomplete, the lender will then send Equifax the updated information and your file will be changed accordingly. 

How long does it take for Equifax to respond to a dispute?

You can expect the dispute to take at least one month, however, there are lots of factors that can impact how long it can take to reach a resolution.

The Bottom Line

It’s important to fix any errors or update information that you feel is incorrect as soon as possible as it can impact your overall creditworthiness.

Editors note: This blog is updated regularly for accuracy and comprehensiveness.

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