It Does Not Take Much Effort Or Money To Check Credit Reports
August 6, 2008
It is always a good idea to check your credit report at least once a year, which should not prove to be difficult to achieve because the law entitles you to ask each of the three main credit report agencies to send you a copy of your credit report once in a year. Thus, it would be a good idea to check credit reports from TransUnion, Equifax and Experian that are, as you may well have realized, the leading credit bureaus that keep information on different customers.
No Surprises
If you don’t want to be surprised when applying for credit, or even when you are applying for a new job, you should always make it a point to get copies of your credit report and then make your own independent check of your credit report. That way, you can find out whether the information contained is accurate or not and in case of erroneous information, you can then dispute the errors and get them rectified.
In order to get your credit report, you would first need to contact any or all of the major credit bureaus including Experian, TransUnion and Equifax. What’s more, when it comes to obtaining your credit report copy, you can even ask for and receive a free copy each year from a website, or get it directly from the major credit bureaus. Once you receive your copy, you can then check your credit report with a fine comb and ensure that all the information contained is accurate and no errors have been made.
Having checked your credit report, you then need to find out how to improve your poor credit score and also how to maintain or even improve a good credit score. In this regard, it will be to your advantage to pay bills on time and also pay credit balances in full rather than pay minimum balances, and if you stay current with your bills you will be able to attain a desirable credit score.
Once you have started to check your credit report and you notice errors, you need to take immediate remedial action to remove the errors, though one thing that you need to be wary about and that is avoiding using credit repair companies to set your credit in order. It is far better to order a copy of your credit report and check your credit report personally, and in the process ensure that all information is accurate and true, rather than try to improve credit through dubious means such as hiring credit repair companies that won’t deliver despite tempting offers.
Tags: credit report
Is There Any Point In Disputing Your Credit Report?
August 2, 2008
Way too many Americans have no idea what is on their credit reports. Someone could be in the beginning stages of stealing your identity right now and unless you look at your credit report you would have no idea. Many people get rejected for loans or credit cards on the basis of their credit report and still they have no desire to see what is on there that is preventing them from getting the credit they need.
Most people do not think disputing your credit report is worth it because the credit reporting companies won’t listen anyways. If there is something wrong on your credit report then disputing your credit report is not only extremely important but also very easy and effective to do. Federal credit reporting laws force credit reporting companies to investigate anything you are disputing on your credit report.
They must report those results to you within a designated time period or else the items you are disputing must be dropped from your credit report. The act of disputing your credit report is something you cannot only easily do but should do. If something does not get taken off after you are done disputing your credit report, then you have the option of adding a descriptive paragraph to that item of your credit report for future creditors to see.
All you need to do is order your credit report from the major credit reporting agencies. If you see something you do not agree with then follow the procedures for disputing your credit report that are clearly outlined in your credit report. Be sure to have your own information ready in case you need to prove your point. There can be a danger in disputing your credit report as too much activity on your credit report will damage your credit rating, but an annual review and disputing of your credit report is not only advisable but a good idea as well.
What if They Won’t Change it?
If you have absolute proof that the credit reporting agency is wrong then they do have procedures you can follow if you do not agree with their dispute findings. Follow those procedures and if you still do not feel satisfied then you may want to consult an attorney. If your incorrect credit report is preventing you from getting a better interest rate on a mortgage, thereby saving you thousands of dollars. Then, it may be worth legal intervention to make sure your dispute with the credit reporting agencies is taken seriously and the correct action is taken.
Tags: credit report
