It's estimated that over 40 million Americans have mistakes on their credit reports, many of which are serious enough to do damage to their credit score, potentially leading to higher interest rates on loans or difficulty receiving loan approval altogether. Thankfully, if you notice erroneous items on your credit report, it is possible to have them removed. But there's a right way and a wrong way to go about doing this. Here's a look at 5 sure-fire ways to get the credit bureaus to remove erroneous items from your report.
5 Tips to Correcting Credit Report Errors
Check your reports: You won't know there's an error on your credit report unless you're regularly checking them. And this isn't difficult to do, as you get one free credit report per year from the three major bureaus. Just stagger when you receive them throughout the year. You can also enroll with one of the various free credit monitoring services out there.
Dispute errors via mail: While there is an online form that you can fill out to dispute errors, major problems are better to dispute via old fashioned mail. Just make sure that you identify the item that is erroneous and explain why it should not be there. Going the old snail mail route for bigger credit report errors is so important because when you dispute errors online, you void your right to arbitration.
Provide documentation: Another benefit to disputing credit report errors via mail is the ability to provide documentation. Always provide any and all documentation that backs up your claim or can help shed light on the fact that your report has an error in it.
Follow up: When you apply for a job, what's the one thing you do after you've submitted your resume and possibly even gone through an initial interview? You follow up! Do the same thing with the credit bureaus by calling their customer service departments and speaking with them directly about any errors on your report. Again, when discussing errors with anybody in customer service, be sure that you're got documentation to back up any of your claims.
Don't fight a losing battle: Always keep in mind what you're fighting for - getting rid of erroneous items on your report. Don't fight debt or other items that you know you're accountable for in hopes of raising your credit score, you're fighting a losing battle if you do.
Remember that if you identify an error on your credit report, you're hardly alone. There are over 40 million people that are in the same boat that you are. The credit bureaus know this, have corrected a bevy of reports before and will more than likely be willing to work with you to correct yours as well. It's just a matter of knowing how to go about it the right way.
Credit repair is hard enough. Trust in our team to help you with your credit needs. You can find us by searching key credit repair either with Bing or Google.