To do: Check for credit report mistakes
Mistakes can happen, and are a lot more common than we
think, and they can do some serious damage. I’ll let you in on some of the most
common credit report mistakes and what you can do to fix them.
Step 1: Get your free credit report
The three credit reporting agencies (TransUnion, Experian
and Equifax) are required by law to provide you with one free credit report a
year. Sweet. There are a few ways you can request a copy from each agency.
Online is the fastest route. If you submit a request via
phone or mail, expect to wait two weeks after the paperwork is received.
- Online:
www.AnnualCreditReport.com
- Phone:
877‑FACTACT (877‑322‑8228)
- Mail:
Download and complete the Annual Credit Report Request Form. Send it to:
Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA
30348‑5281
Step 2: Look for the most common mistakes
Typos or wrong info: Anything from your name spelled
incorrectly to your address or your birthdate off by one number. Tiny mistakes
can mix up your credit with someone else’s.
Accounts you don’t recognize: If you see something
you don’t recognize, don’t ignore it! This includes credit cards you never
applied for, loans in your name, or purchases you didn’t make.
Duplicates: It’s not normal to see a debt twice on a
credit report. This includes things like the same collection account,
transferred debts showing as separate accounts or paid-off debts still
sitting there.
Incorrect account info: Sometimes, payments
mistakenly can show up as late, or closed accounts may still show as active.
Other times, reports may show the wrong credit limit or mess up your
payment history.
Outdated info: Bankruptcies older than 10 years,
late payments older than seven years and outdated collections accounts should
not be showing on your credit report.
Step 3: Report anything strange
Don’t panic! Write down and make copies of anything that
looks off. Then, file a dispute with the credit reporting company by mail,
phone or online.
If you’re filing online or by mail, explain in writing
exactly what’s wrong and why, and include copies of documents with proof. Make
sure to include your contact info, credit report confirmation numbers and a
copy of your version of your credit report.
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Equifax: 866‑349‑5191 - https://www.equifax.com/personal/credit-report-services/credit-dispute/
o
Experian: 800‑397‑3742 - https://www.experian.com/disputes/main.html
o
TransUnion: 800‑916‑8800 - https://service.transunion.com/dss/login.page?dest=dispute
o
Innovis: 800‑540‑2505 - https://www.innovis.com/
And always follow up! Bureaus are required to look into your
disputes within 30 days. Track its progress until you have a resolution in
writing. If your dispute is valid, the bureau has to fix it and tell the other
bureaus as well.
A lot of these issues boil down to good old-fashioned human
error. It happens! But don’t let that stop you from taking charge.
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