Checking Your Credit Report for Mistakes
Lenders and creditors use your credit report to determine your creditworthiness. Unfortunately, bad credit debts can appear on this report through no fault of your own. When checking your credit report, you should always be on the lookout for mistakes that could affect your credit history.
Mistakes can happen, but you shouldnt have to pay the price. This is why it is extremely important for you to check your credit report on a regular basis. If you dont report the mistake, it will never be removed.
Checking for Mistakes
To check your credit report for accuracy, you first need to obtain a copy of your report. By law, you are entitled to one free credit report per year. Take advantage of the opportunity by checking your credit report annually. Do not overlook any aspect. Check your personal information, marital status, account status, open creditors, and payment histories. Remember, it is your responsibility to report errors.
What to Do If You Find a Mistake
To start, dispute the item with the creditor. It could simply be a case of mistaken identity. Next, contact the consumer credit reporting company in writing. Send any documents (copies, not originals) that support the fact that the item is a mistake. Then, give the consumer credit reporting company 30 days to investigate the mistake before following up with an inquiry.