How to Report an Erroneous Credit Report

Take action against False or Outdated Credit Reports

Credit reports can have devastating or pleasing actions on our financial states. There are several factors on a credit report that can determine not only if one is capable of getting a car or house loan and credit but as well can determine the rate and premium of insurance and employment opportunities. Many companies and businesses will look at your credit report to determine if they would like to hire you for a position within their agency.

Auto insurance will determine those with low credit scores are more likely to be involved in an accident and will dictate higher premiums. Even if you have never had any bad or questionable, financial or credit activity it is possible, your credit report may show otherwise. It is necessary to actively check one’s credit score to monitor accuracy and find possible fraud or incorrect data.

Three basic companies collect and report credit information. These companies begin collecting data as soon as your social security number is used to manage any finances from doctor visits, rentals, utilities and other areas or financial obligations.

It is normally once someone turns old enough to be employed at 16 or 18 that their credit reporting will become active. It is possible and very common that credit fraud and fraudulent perps will target individuals at a younger age and many 5 year olds may have a bad credit report before they even have the ability to legally have a credit report.

An important reason to monitor one’s credit can be attributed to several factors and contacting any of the three reporting companies or all of them will most likely be necessary.

The three credit report companies will have contact data available for those wishing to check their reports and can be found online, through financial institutions such as banks and lenders and or retail stores offering credit.

Any time one applies for credit the lender may use one or all of the credit report companies to check the applicant. An easy form for contact are return  letters  concerning your credit check and the credit companies will most likely report that  your credit was assessed by said lender and the approval rate.

These letters from the credit companies will often supply an 800 number and mailing address for any inquiries. They also offer a yearly free credit report making it much easier to monitor one’s credit information.

When it is found that, your credit report contains data that is not correct or fraudulent it is important to contact the credit report companies as soon as possible. Incorrect credit data could consist of past due bills that were paid but not updated on your report, which happens often with credit collection agencies.

If there has been a credit collection judgment against you, even if the total has been met and paid, it can show as a bard mark on your report. Not honoring credit obligations will have a very negative effect of one’s credit score. It will be necessary to supply the data requested to the credit company to have any negative marks removed and credit updated to your status.

This can take a few weeks to a few months.  If others have been using your identity and causing poor credit it will be important to contact all companies involved that which will be listed on the report and to possibly file a police report. Ones credit can be repaired and fixed if faulty data is supplied or fraudulent actions have affected one’s credit score and consistent monitoring can keep incidents from occurring.


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