Be A Credit Detective
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Be a Credit Detective
Overview
When Marisa Galan checked her credit report, she noticed unfamiliar accounts but didn’t think much of it. Unfortunately, these accounts were damaging her credit score, impacting her ability to secure a loan.
Why It Matters
Your credit score is influenced by all the information on your credit report, even if it’s incorrect. It’s essential to check your reports from all three credit bureaus?"Experian, Equifax, and TransUnion?"annually and several months before applying for loans.
Common Issues
More than 70% of people experience at least one credit error, often due to incomplete reports, incorrect information, or outdated data. For instance, if someone shares your name, their credit details might appear on your report.
Taking Action
It’s crucial to act if you find errors. You have the right to have inaccuracies investigated and corrected. Here’s how:
1. Dispute the Error:
- Contact the credit agency with a dispute letter. Sample letters can be found at [ACCION’s Website](http://yourmoney.accion.org).
- Include copies (not originals) of documents that support your claim.
- Ensure you send everything via certified mail.
2. What to Include:
- Clearly identify and explain each disputed item.
- State the facts and request correction or deletion.
3. Follow-Up:
- Credit agencies must investigate within 30 days.
- If inaccuracies are confirmed, all agencies must correct them.
- If an error isn’t immediately resolved, reach out to the creditor directly. You can also add a 100-word explanation to your report as a last resort.
Conclusion
Take charge and investigate your credit regularly. It’s your credit?"protect it!
You can find the original non-AI version of this article here: Be A Credit Detective.
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