Order Your Credit Report to Check for Errors

This is the first post in our series about building a bad credit score into an excellent score.

When was the last time you reviewed your credit report? If you can’t remember, if you know you have neglected to do so in the past, it is time to make a change.

Contrary to popular belief, credit bureaus are not perfect. There is a chance your credit report could have at least one mistake. Subsequently, your score is being held down for an unfair reason.

Getting Started

The first thing you need to do is order your credit report. Once you have the report in your hands, it is time to begin the review process.

Don’t rush through the review, as you want to pay close attention to every last detail. As you move from one section to the next, make note of anything that looks suspicious. This will allow you to double back upon completion to determine if there is an error.

If you find a mistake, there are two steps you should take without delay:

•    Tell the credit bureau that you have found inaccurate information. The bureau is required to investigate your findings, typically within 30 days. If you have copies of documents that support your position, such as a “paid in full notice,” be sure to provide this to the bureau.
•    Contact the creditor to explain why you are disputing the information provided to the credit bureau. Send the creditor the same documentation to ensure that everybody is on the same page.

Note: both the credit bureau and the creditor is responsible under the Fair Credit Reporting Act to correct any incomplete or inaccurate information.

Do-it-yourself credit repair starts with ordering your credit report and checking for errors. Any error that is found and corrected will result in credit score increase, which is exactly what you are hoping for.