How to correct your credit report

How to correct your credit report

How to correct your credit report

Credit report is of utmost importance when it comes to financing purchases, applying for mortgage or even trying to rent an accommodation. Naturally, you strive to keep it high but what happens when error occurs and potential lenders receive a copy of credit report containing falsely lowered score? It can lead to your application being rejected. Protect yourself and your credit score by following these steps.

Order a copy of your credit report from one of the credit reference agencies. If you do not already have a subscription with one of them apply for a free trial account to receive a fresh copy of your report.

Inspect the report and mark any inaccuracies which may have resulted from error on part of companies you've dealt with in the past. It may take a while to run through the whole report but please keep in mind that spending some time on this now may save you a lot of money and hassle in the future.

Should you find any errors, write all of them down together with corresponding companies. Contact them in writing explaining the nature of error; include your personal as well as account details and include any relevant documentation which could help your case. It's important to use recorded mail so that you have proof of correspondence in case you had to escalate the dispute. Providing the evidence is exhaustive, most companies should correct the information internally in under a month, which will be reflected on your credit report.

If the company responsible for error does not agree to correct wrong information or does not reply, contact your credit reference agency. Detail the case and error, asking them to start an investigation. Once again, it will take up to a month to get the results. Should the credit agency stand by your claim the error will be amended.

In case the credit reference agency refuses to correct the error you may decide to leave a note on you credit report, up to 200 words in length, explaining the error in question so that anyone requesting your credit report will get insight into your side of things as well. One last option you may consider in extreme cases is filing a lawsuit if you feel that such an action is required.

Monitoring that your credit score remains error free doesn't require much effort. If you're wondering What's my credit score' feel free to check this website for more information and advice on how to check your score for free.

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