A lot of people are doing a “New Year, New You” type program. You can buy new diet products or you can get a Bowflex on sale. But now is also a good time to review your credit report. As a reader of this blog, you understand how important it is to review your credit report regularly. Your credit report affects your interest rates, offers for credit and could impact your job.
When you get your credit report, there may be a mistake. Common mistakes include items that are not yours being reported, items not being reported properly and items that are just flat out wrong.
Get your credit report and review it carefully. If there is a mistake, you can either dispute this online with the credit reporting agencies (CRA) or you can report it in writing. I prefer to report it in writing. A simple letter with your name and social security number will do the trick. You list each account that is wrong and why it is wrong. For example “Account 1234 with NRS reports that I am delinquent when this account has been paid off.” You list each account with the reason and send the letter off.
The credit bureaus will then investigate and send you a response in 45 to 60 days. All inaccurate information should be removed and you should see your credit score increase. Finally, you do not have to use a service that claims it will clean up your credit score. Only inaccurate information can be removed and anyone who claims to have a system to “fix your credit” is probably trying to just separate you for your money.