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Useful Credit Report Tips for Fixing Erroneous Credit Reports

By Karen Anderson
Published: Monday, March 15th, 2010

What would you do if you encounter errors on your credit report?  Inaccuracies of credit records can pose fear into any possible lender. Possible lenders may see you as a bad risk for them. The consequences of becoming a bad risk are that your application, for example a loan, may either not be granted.  If in case it was granted, you may be required to pay very huge amounts of interest. It can also affect your ability to qualify for credit, insurance, employment or rental housing.

To avoid:

  • paying large sums of interest;
  • not being granted in your application for  loan;
  • affecting your ability to qualify for credit, insurance, employment or rental housing; 

You should observe these credit report tips to remove and keep away from these errors on your credit report.

The first tip is to know how these kinds of errors sneak into your credit reports. Automated methods sometimes take over and creditors send inaccurate information about your behavior when it comes to paying bills to one of the major credit bureaus. Other situations where in erroneous information are added to your credit information when your identity and other’s identity gets mixed up at credit bureaus when Social Security Numbers are entered incorrectly.

The next credit report tip is to examine carefully your credit report. A free copy of your annual credit report can be requested from the three major credit bureaus. These three major credit bureaus are the Equifax, the Experian and the TransUnion.

Third credit report tip is to contact the credit bureau first, in case mistakes or errors on your credit report are found. And immediately inform the credit-reporting agency about these errors.

Rather than using online forms to inform them about the errors, it is better that you send a letter that includes your complete name and address, a description of each error, an explanation why you say that it is an error, a request for the corrections of these errors, along with this letter enclose copies (Not originals) of documents supporting your claim, and a photocopy of your credit report with the erroneous information encircled.

Send these letter and enclosures through certified mail, with return receipt requested, so that you can document what the credit bureau received. And keep copies of all messages, and write down some notes about each phone call you have with them.

The fourth and last credit report tip is to contact the source of these erroneous information on your credit report. You can send the creditor photocopies of everything you sent the credit bureau with a short letter that basically says, “I’m disputing this with you, too.”  And after doing this, the creditor should always include a notice of your disagreement or dispute every time it reports the information to a credit bureau.

Credit report tips are helpful in fixing your credit reports. Fixing your credit your report is your legal right. Take action about errors placed on your credit report. Take care of your credit report to boosts your credit score.

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