Review Your Credit Report And Correct Errors
Below is a MRR and PLR article in category Finance -> subcategory Credit.
Review Your Credit Report and Correct Errors
Summary
You can obtain a free credit report annually and should diligently check it for any inaccuracies.Reviewing Your Credit Report
Start by ensuring all your personal details are accurate. This includes your name, social security number, date of birth, address, and phone number. If you're married, verify that your spouse's information is correct. In the case of a divorce, this should also be reflected in the report.
Check that your current employer and job title are listed. If you've recently started a new job, your previous employer should appear as well. Similarly, if you've moved recently, your previous address should be included.
Make sure all listed accounts are yours, with correct payment histories and account balances. Credit card details should show your credit limit, current owed amount, and payment history.
The report will also list the names of companies that have requested it in the past six months, as well as any lawsuits, liens, or bankruptcies.
How to Correct Errors
If you find errors, send a certified letter to both the credit reporting agency and the business that reported the incorrect information. Include:
- The name of the business that reported the error
- An explanation of why the information is incorrect
- Copies of receipts, canceled checks, or other documents that support your claim
Both the credit reporting agency and the business responsible for the incorrect data must correct the errors.
Credit Reporting Agency's Responsibilities
Upon receiving your dispute, the credit reporting agency must:
- Notify the business that provided the disputed information within five days.
- Complete their investigation within 30 days.
If They Agree with You
If the agency agrees that there is an error, they will send you a corrected report within 30 days.
If They Disagree with You
If they find the information to be accurate, they must provide an explanation within five days of completing their investigation. If you still disagree, you can add a 100-word statement to your credit report, explaining your side of the story.
You can find the original non-AI version of this article here: Review Your Credit Report And Correct Errors.
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