About 80% of credit reports contain one or more errors, according to various surveys. Wrong spellings, wrong addresses, and even reports saying that you are now deceased are some of the types of inaccuracies that are often found. But one of the most common inaccuracies on credit reports are in the category of “late payments.” They might be labeled 30, 60, or 90 days past due when in fact they were either never late or some other mistake was made. So how do you fix this?
Prevention Is always better than cure
Regularly check your credit report. You should do this as often as possible preferably monthly or at least quarterly. Take note of all the inaccuracies and if you need help doing so CRE Credit Services offers a completely free credit analysis. Credit reports can be very difficult to decipher. If it’s a matter of late payment issues and you know you have diligently paid your bills on time, you dispute these items to get them removed from your credit report. This is not necessarily an easy process and credit reporting agencies or creditors may not comply and that is why many savvy individuals employ the services of a credit repair agency.
Wrong information submitted from a creditor or a reporting agency
One of the ways inaccurate information can creep into your credit report is when gathering agencies make mistakes in supplying information. Another way of getting erroneous information on your record is when a furnisher supplies the wrong data – it could be a wrong address, a misspelling of your name, the wrong birth date, the wrong employment information, or inaccurate late payment information. When this happens, you can write a letter to the appropriate credit agency and request the removal of such inaccurate information. Again this process can be a tedious one.
A case of stolen identity
Unless you check your credit report frequently, you might not even know that you have been the victim of identity theft. When this happens, volumes of inaccurate information can end up on your credit report. This is another reason it’s crucial to check your credit report as often as possible. If this should happen to you, it may be especially important to obtain expert help so that your credit is not ruined for years to come. Find a reputable credit repair company as quickly as possible. Such a company has the expertise to repair a potentially disastrous situation as quickly as possible.