Address Credit Report Errors Immediately

Mistakes can happen. Not just on your part, but on the part of creditors and reporting agencies. That's why it is important to request regular credit reports and to address any inconsistencies or errors immediately.

The longer incorrect information is present on your credit report the more damage it can do. It can cause you to be denied for a line of credit or a loan, result in higher interest rates if you are approved, or even stop you from renting an apartment or getting a mortgage.

As soon as you have a credit report dispute that needs to be addressed, notify the reporting agency in writing. Be very specific and detailed about the nature of the error so it can be handled properly.

It is also important to get your report from all three major bureaus: Equifax, Experian and TransUnion. Just because a mistake is corrected with one agency does not mean that it is corrected with the other two. You will have to notify each separately of the mistake and make sure that credit bureau disputes are taken care of on all fronts.