Finding out there are errors on your credit report can be stressful, especially if you’re applying for a mortgage. It’s better to be proactive and keep an eye on your credit report, and if anything pops up you can take care of it fast. Use quick easy steps to fix your credit report.
The first step is to see what’s on your credit report.
You can order a free copy of your credit report every 12 months. The three credit reporting agencies are Transunion, Equifax and Experian. The three nationwide credit reporting companies have set up a website where you can get your free copy. To order your credit report online visit annualcreditreport.com
You can also get your free credit reports by calling 1-877-322-8228 or by filling out the Annual Credit Report Request Form . Mail the form to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Do not contact the three nationwide credit reporting agencies on an individual basis. You can order all three reports at once or you can request one or two individually.
How to get your credit fixed up and ready to buy a home.
When you find things that are incorrect on your credit report, you can dispute them. The FCRA states that both the information provider and the credit reporting company have a responsibility to correct inaccurate or incomplete information on your credit reports. You can use a letter format like this one here, Sample Letter For Disputing Credit Report Errors. Some people might prefer a form type of dispute letter like this one, Credit Report Dispute Form. Both the letter format or the dispute form format will work, just make sure you follow the quick and easy steps to fix your credit report.
The correct course of action.
Notify the credit reporting agency in writing about the incorrect information you’ve found. Include copies of what ever documentation you might have that supports your claims. Do not send the originals, you will not get them back. Your letter or form should clearly define each item you dispute. Request the information be removed or corrected. It’s not a bad idea to include a copy of your credit report and circle the the line items you dispute. Keep copies of your letters and send all the information via certified mail with a return receipt requested.
What will happen?
The credit reporting agencies will review the information you’ve sent and do an investigation. The investigation process is typically completed within 30 days. When the investigation is complete, the credit agency will give you the results in writing and provide you with an updated version of your report.
Taking these steps should help you get your credit fixed up and ready to buy a home. If you need help or have any questions, let us know.