How's Your Credit Report Looking?

Have you received your free annual credit report? If not, the first thing you want to do is get a copy of your credit report from each of the three major reporting agencies.

If your address and information can be verified against the report, you can do this on one site at AnnualCreditReport. If not, you may need to contact each agency. Go to Equifax, Experian.com, and www.transunion.com to find out how to order your free annual credit report.

Once you receive your reports, go over every item. Make notes about anything inaccurate or out of date. If there are addresses or information that does not belong to you, you must write to the reporting agency to have these removed from your records. Perhaps there is no record of a loan you paid off. You must inform the reporting agency of this information. They will verify it and add the paid loan to your report. These are important in obtaining future credit. If negative information is accurate, keep in mind that these entries may be reported for up to 7 years or for 10 years regarding bankruptcies.

Maybe there are unfavorable items on your reports that are inaccurate. If so, you must send the correct information and ask to have it corrected. Are there items on your report that were dismissed in bankruptcy or through a settlement? Again, it is your responsibility to be sure your report is correct. You may also help prevent identity theft by being sure that all the records listed are yours. If you do not contact the reporting agency, they are unlikely to notice and correct your records.

Your request must be made in writing. They cannot make changes in your credit report over the phone. When requesting corrections, you must provide copies of documents showing the correct information. Send your request with your documentation Certified Mail, Return Receipt Requested. Keep the receipt and wait for the signed card to be returned to you verifying they received your information. Most of the time, they are required to investigate within 30 days. If the investigation results in a change in your report, they will send you a new free report reflecting the changes.

Be a responsible consumer. Check your credit report every year to insure accurate records are available when you need them.

See Also:

Credit Report Secrets: Do You Know What They Reveal?
If youve ever applied for a credit card or loan, youve probably had your credit report reviewed by the lender. Your credit report has a huge impact on your financial future, so its well worth your time to be sure that you understand what your credit report says about you. Even if youre not ... more...

How to Understand Credit Report
Now that you have obtained your credit report, the first thing you need to do is read through it and understand what it all means. Don't feel bad if you don't understand what the credit report is saying to you. Most credit reports are coded because it allows shorter time for the computer to ... more...

Comprehending a Credit Report
Obtaining a credit report is an excellent way to begin taking control of your financial future. It's recommended that you review your credit report once a year, not only to be aware of your standing with creditors but to also keep abreast of errors and fraud. However, once your report arrives you ... more...

Making Sense of the Information in Your Credit Report
If you've ever applied for a credit card or loan, youve probably had your credit report reviewed by the lender. Your credit report has a huge impact on your financial future, so its well worth your time to be sure that you understand what your credit report says about you.Even if youre not ... more...