Reposted from www.learnvest.com
If
you believe that you’re doing everything possible to improve your
financial health, but your credit score still seems lower than it should
be,
your credit report may
contain errors. Studies suggest that up to 25% of credit reports can
contain serious errors, such as outdated personal information, mistaken
or fraudulent accounts and incorrect account details.
Want
those errors corrected? Well, it’s up to you to dispute them, so here’s a
handy checklist on how to tackle potential credit report problems.
You’re entitled to receive one
free credit
report every 12 months from each of the three major credit bureaus:
Equifax, Experian and TransUnion. If you’ve never examined your reports
before, you can pull all three at
AnnualCreditReport.com, which is the only government-approved site that provides reports for free. (We suggest that you only pull one
every four months, so you can regularly check up on your credit throughout the year for free.)
In
some cases, you may not find the error on all three credit reports, so
inspect each report carefully to find out if this is the case. You only
need to dispute the error with the bureau(s) reporting the incorrect
information.
In addition, if you have a credit line from a small company, such as a
credit union,
it’s important to keep in mind that it may not report to all three
bureaus. Before you assume that a bureau is incorrectly reporting your
credit line, check with your creditor to see which bureau it reports to.
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