Tips on How to Fix Your Credit Report

You are not your credit report! Yet, it strongly influences the opinions and actions of others toward you. The original intention of credit reports was to act as a mirror of how you handle your finances. As we look at the economic conditions sprouting up unexpectedly in the world today, we know there were credit reports that were not accurately reflecting the activity of many of the large corporations that just went bankrupt. This lets us know that information on credit reports does not always accurately portray the whole truth. And, credit reports also have plain old errors on them.

Why should you bother to fix your credit report if you don't intend to borrow money again? One of the main reasons is because both current and future employers check one's credit rating to confirm your employability. The process of checking and correcting a credit report is quite simple, yet can be time-consuming.

The first step in the process is to obtain copies of your most current credit reports from each of the top three U.S. credit bureaus: TransUnion, Equifax, and Experian. You will find the layout of the information different on each of the reports, and you will possibly find the information itself differs between the three companies. It is crucial to have recent copies of the reports because the information can change often.

To simplify the process, use a separate piece of paper for each credit bureau and list any errors you suspect on the appropriate paper. The credit bureaus may have your name misspelled, a wrong address or apt. number, or outdated telephone number. Make sure to check the social security number they use.

Each company you owe money to will be listed, showing the original amount of the loan, the current amount due, and whether you pay on time or not. Check this information over carefully, marking on your list for that credit bureau any items you disagree on.

After you have your list of potential errors for each of the credit bureaus, type them up, sign it, and mail it to the credit bureau. They will not deal with you over the telephone. The clearer your list is to make sense of, the easier it will be for them to make corrections. It might take weeks for them to reply to your request for corrections because they are double checking the information you send.

It does no good to rant and rave at the credit bureaus for making mistakes. You are interacting with clerical employees who only have what thousands of computer systems have sent them. These thousands of other computer systems are also ran by clerical help. Errors, both human and computer generated, will happen! Remember, the credit bureaus really do want to provide you with accurate information. Work with them as a team and fix your credit report as recommended above. It will be to your great advantage by supplying you with accurate credit information.