Here Are Some Quick Tips to Remove Common Errors off Your Credit Report
As most consumers know or have experienced, inaccurate
information on credit reports is more common than you
think. Having these errors cost you thousands of dollars in
higher interest rates then you should have on when applying
for loans and credit cards. According to TheCRAGroup.com,
in 2004, the U.S. Public Interest Research Group found that
79% of credit report surveys contained errors made by
either a creditor or the credit bureau.
 
Many common errors include:
 
• Incorrect reporting from the creditor to the credit
bureaus of a nonpayment or late payment of a loan or debt.
 
• Misfiling by a department store credit line.
 
• A mix up between family members with the same name: For
instance, Bob White Sr.'s irresponsible bill paying could
be added on Bob White Jr.'s credit report.
 
• Accounts opened without your approval by someone
committing identity theft (watch out for accounts that you
do not recognize and/or weird addresses listed on your
report such as P.O mail boxes). Ways of correcting these
common errors include the following:
 
• First go to AnnualCreditReport.com. This is the only site
where you can download a free credit report from each of
the three credit bureaus: Experian, Equifax and TransUnion.
Be weary of other sites offering free credit reports. There
is usually a catch.
 
• Write a letter to the credit bureaus detailing the
inaccurate information and state that you want it removed.
 
• Make a copy of that letter and mail it to the creditor
who reported the inaccurate information. (Tip: Send both
copies of the letter as certified mail with return receipt
requested to the three credit bureaus and your creditors).
 
• Monitor your credit reports carefully to make sure the
information you wanted taken off was removed.
 
• Maintain records for everything! Keep copies of all mail
relating to the situation. Write down names and phone
numbers.
 
• Make sure you remain patient. The dispute process can
take months. The credit bureaus deal with millions of
disputes.
 
• Consider a lawyer or a legitimate credit repair company
to help you if you are unable to fix the issue.
 
If you have any questions or issues with your credit
reports, check out the Fair Credit Reporting Act at
 
Finally, if you are planning a large purchase and know that
you will be applying for credit, order a copy of your
request at least six months in advance in case there are
errors. And remember, your credit score will not be
affected if you request a copy of it. Conversely, when a
creditor pulls your credit report, your score will be
negatively affected.
 
 
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Pete Glocker is employed in the Education and Charitable
Services Department at Debt Management Credit Counseling
Corp. (“DMCC”), a 501 c(3) non-profit charitable
organization located in Boca Raton, Florida.  DMCC provides
free financial education and personal budget counseling to
consumers across the United States. DMCC financial
counselors can be reached for free education materials and
budget counseling by calling 866-618-DEBT or by visiting
http://www.dmcccorp.org . Pete Glocker can be reached by
 
.