What’s On Your Credit Report?

Did you know that each year you are
entitled to one free credit report from each of the three main credit
reporting agencies? I am sure everyone has seen the ads for
FreeCreditReport.com, but if you want a truly free credit report
without having to sign up for a monitoring service that will cost you
monthly, the official site to visit is http://www.annualcreditreport.com.

It
is not unusual for credit reporting agencies to make a mistake on your
report. For instance, my mother and I have similar names and many times
I have found her credit items on my report. These kinds of errors by
the credit reporting agencies can be costly if you are trying to buy a
house or a car and can even have an adverse affect when applying for a
job; therefore, it is imperative that you monitor your credit report
and immediately contact the credit reporting agency to correct any
errors. In fact, credit reporting agencies are legally required to
investigate all disputed items in credit reports and to have
established procedures for correcting mistakes. These laws are in place
to protect you from having your credit ruined by incomplete or
misleading information. If you view your report and notice an
inaccuracy, ask the credit agency to correct or delete the inaccurate
portion. If the credit agency refuses, you may write a statement
describing your perspective regarding the inaccuracy. This statement or
a summary of it will then become a part of future credit reports.
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