Sometimes you may be suffering with a low credit score due to misleading information in your report. In fact, any information that the credit agency is unable to verify should not be included in your report. Including unverifiable information is against the law and it’s your right to file a complaint and have it removed.
First and foremost, make sure you review your credit report at least once every year. This enables you to keep track of your score and work towards improving it. You can request for a copy of your credit report from two credit reporting bureaus so as to compare the information depicted. Your credit history may be displayed differently since credit agencies have their own ways of presenting this kind of information.
When you get a copy of your credit report, it is important to review it and make sure there are no additions or exclusions that damage your rating. This includes credit card payments that have been made in full or balances that you are not aware of.
Once you review your report and notice there is an error or any misleading information, it is important to get in touch with your creditor or credit reporting agency. In most cases, creditors are willing to review the information they provided to the credit bureaus and make corrections where necessary. Each credit reporting agency has its own method of applying for errors to be reviewed. Make sure you follow the procedure whether it involves attaching an explanatory letter that will help you to improve your score.
A credit repair company can help you in the process of getting rid of errors in your report. Instead of handling the creditors and credit agencies on your own, professionals with experience will work for you to ensure your rights as a consumer are safeguarded. The credit repair agency will make sure that the reporting agencies are only including information that can be verified in your report. Any information that is yet to be verified should be removed in your report since it may also lower your score. With the help of a credit repair professional, you will avoid making mistakes that may lead to further damage in your credit rating.
If you have disputed the errors successfully either on your own or with the help of a credit repair agency, you should be able to see a change in your score within a period of not less than 45 days. This will depend on the type of error being corrected and whether there was supporting evidence.