Credit report errors can be costly. In addition to raising the prices you are charged for credit products, credit report errors can also prevent you being eligible for a promotion, a new job, or the apartment that you want. Many people have errors on their credit report that they are unaware of because they have not checked their credit reports for a while. In fact, it is estimated that nearly 25 percent of consumers have errors in their credit files. Fortunately, there are some actions you can take that will get most credit report errors corrected quickly. Here is what you should do to find and correct errors on your credit report.
Get Your Free Credit Reports And Check Them
You’ll never know if there is an error in your credit history if you don’t check your credit reports. You can get a free copy of each of your credit reports annually from the three main credit bureaus – Equifax, Experian, and TransUnion – by going to www.annualcreditreport.com and submitting your information. Each bureau compiles its own information so an error on one report may not be on the other two. Look for incorrect personal information, accounts you do not recall opening, credit inquiries for loans you never applied for, and records of missed payments that you are sure you didn’t miss.
Contact The Credit Bureau About The Incorrect Information
If you find any incorrect information on your credit reports, it is important to contact the credit bureau reporting the error to get the information corrected. Make sure that you explain, in writing, why you believe there is an error on your credit report and exactly what you are disputing. While it is possible to contact the credit bureaus online, it is better to use the mail so you can attach any relevant documentation that helps prove your claim. Send the same information to the lender or debt collector. If you suspect that the errors are the result of identity theft, call the credit bureau immediately and ask to put a fraud alert on your file.
Keep Records Of Your Efforts
Keep a detailed record of any interactions you have with the credit bureaus, lenders, and debt collectors in the quest to get the information on your credit report corrected. Make copies of any documents that you mail off and mark the date that they were mailed on them. Keep notes of any contact you have by phone with details on what was said by either party. These records will come in handy if you have to go to court to get the credit bureau to correct the information on your credit report.