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

Rachel Surman Apr 11, 2019

It’s finally spring in Canada! This means that you’ve probably started your spring cleaning and have maybe gone a little “Marie Kondo” on your home. But what about doing some financial spring cleaning? A great way to start is by checking your credit report and making sure everything is correct. If you find something that isn’t right, here’s exactly how to fix it. 

How do I update or dispute information on my free credit report?

What is 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.

Why is Borrowell offering free credit reports?

We care about your financial well-being and strive to help Canadians make great decisions about credit. We realize that providing your free credit report and free credit score every month can help you get the full picture when it comes to your finances.

How is my credit report used?

Your credit report is maintained by Equifax, the credit bureau Borrowell sources credit scores and reports from. Equifax is responsible for updating your information and fixing any issues. Your credit report is used by banks and lenders to determine your creditworthiness, in the same way a credit score is used.

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.

What information is on my credit report?

Your credit report contains important information about your credit history and it’s helpful to see it all in the same place.

Personal Information  

You’ll see your personal information on your credit file. Whenever you apply for credit, this information is updated. If it has been a while since you’ve applied for credit, this may not be up to date.

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, it will appear on your credit report.

Are there things on 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 can stay even longer on your credit report – up to 10 years. There is good news though: these derogatory marks actually carry less weight in the formula in which a credit score is calculated as the mark ages.

How do I update or dispute information on my credit report?

So you got your Equifax credit report from Borrowell – yay! It’s a great way to stay informed when it comes to your financial health. But what do you do if you see something that isn’t correct?

If it’s regarding a specific item, we recommend contacting the credit granter or collections agency. If it’s regarding incorrect personal information, such as your date of birth or your address, please contact Equifax directly. You can reach them here: +1-866-828-5961. At Borrowell, we can’t change or modify any information on your credit report.

The bottom line

It’s important to fix any errors or update information that you feel is incorrect. Errors on your credit file can affect your score, which in turn affects your overall creditworthiness.

We’re super excited to be providing your credit report at no cost to you! Ready to see your full Equifax credit report? Happy financial spring cleaning! 

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Borrowell® is a registered trademark of Borrowell Inc. All Rights Reserved. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. The score provided to you for educational use is the Equifax Risk Score.

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