Repairing mistakes on a Credit Report

Did you know that there are more than eighty percent of consumers that have reported mistakes on the credit rating? These mistakes can cost you when it comes to getting financing for a loan, a credit card or even being approved for simple things like rental housing, utilities and even cable and cellular phone service. Ensuring that your credit report has no mistakes is up to you and should be completed through the careful use of credit monitoring.

The first step to resolving any mistakes that may exist on the credit report is to order a copy of the credit report. Ordering a copy of the credit report will give you access to your credit score as well as give you access to the information which is listed on the credit report. There are many aspects that should be examined, from the history to the current information. In the case that you find no mistakes on the credit report, great but in case you do find a mistake on the credit report, here are the steps that you should take to resolve the mistake.

In the case that you have found a mistake on the credit report simply contact the creditor and explain the mistake. Determine if you have sufficient evidence such as balance reports and monthly statements that can corroborate that a mistake has been made on the credit report. This can help to expedite the process. Determine if any further proof is required and speak with the creditor to ensure that you are making the most of the credit rating by proving this claim false.

Request the contact information from the credit collection agency or reporting company and ensure that you send a written request which details the request and the information about the mistake that has been made. This written request should be submitted to the credit collection agency. Consider sending this to the credit collection agency with the use of a mail service that requires a signature so you can ensure that they have received the request. Keep in mind that the credit collection agency should respond to your claim within two to four weeks. Be ready to provide any additional information which is required regarding the mistake on the credit report. At this point, you should wait for a response from the credit collection agency.

After you have received a response determine your next course of action. If the credit collection company complies and agrees to remove the negative strike from the credit report this should be completed within four weeks. Be sure to maintain the records that have been sent from the collection agency to ensure that the process is being followed correctly.
Another six weeks after the process has been completed you can now order a copy of the credit report to ensure that the strike has been removed from the credit report. If it has not been removed, follow up with the credit reporting agency and learn the steps that should be taken to complete further action against the creditor.