| Want to improve your credit score? You need to go | | | | because the agency investigates does not always |
| right to the source - all three credit reports. Yes, all | | | | mean that your credit report will be cleared up or that |
| three reports! You must get reports from all three | | | | they will even inform you. |
| major credit bureaus. They are Experian, TransUnion, | | | | In this Internet society, most credit bureaus now make |
| and Equifax. Do not get the free versions. Pay for | | | | it possible for you to request corrections to your credit |
| them and get your FICO credit score at the same | | | | report on-line and many have information on their web |
| time. Here is why... | | | | sites that tells you exactly how mistakes must be |
| Your credit report contains all your financial history on | | | | handled to be permanently removed. It is important that |
| which your credit score is based including errors and | | | | you follow this information exactly so that the |
| mistakes. If you can correct or update the information | | | | inaccuracies on your credit report are removed |
| in your credit reports, your credit scores will change to | | | | promptly and your credit score is updated as soon as |
| reflect the new data. Getting and checking all your | | | | possible. |
| credit reports for errors is one of the first things you | | | | By the way, don't assume that correcting information in |
| can do to repair your entire credit history and boost | | | | just one of the reports will be automatically fixed in the |
| your average score. You may find errors in one report | | | | others. You need to deal with each bureau individually. |
| that are not in the others which is why all three reports | | | | If all three have the same error, contact all three to get |
| are necessary. | | | | it corrected because you never know which credit |
| Here is how to deal with errors in your credit reports | | | | report will be accessed by a creditor. Not all lenders |
| to give your credit scores a boost: | | | | use all three bureaus for credit information. |
| First of all you should dispute errors in your credit | | | | You are also permitted, by law, to add a note to your |
| reports. | | | | credit report if there is a problem you can't resolve. |
| Contact each of the three major credit bureaus, | | | | Sometimes, there are legal reasons why you failed to |
| Equifax, TransUnion, and Experian, and get copies of | | | | pay a bill. For example, if a contractor refused to finish |
| your credit reports and credit scores. This will cost a | | | | a job or did a poor job, then you may have refused |
| few dollars but you need to do it. Carefully read over | | | | payment, but the non-payment may still count against |
| the reports and note any errors. | | | | you on your credit report. You can have a note added |
| If you find mistakes, contact the credit bureaus, in | | | | that explains the situation. |
| writing. Point out the mistakes and ask that those | | | | Perhaps you are the victim of some other unusual |
| mistakes be removed or investigated. | | | | circumstances showing up on your credit report that |
| This is known as a 'dispute letter' and the bureaus | | | | have affected your credit rating - such as a case of |
| must accept them. All credit bureaus are required, by | | | | identity theft. Again, you can ask that a note be |
| law, to investigate your dispute within thirty days of | | | | attached to your credit report to explain the problem |
| receiving your letter. Send your letter "Return Receipt | | | | and what you are doing about it. |
| Requested" via the U.S. Postal Service. This will cost | | | | When adding these notes, be very brief and to the |
| you about $3.00 but it's well worth it. The "Return | | | | point. Don't write a 5 page letter! Lenders, if they wish, |
| Receipt" will tell you the date the letter was received | | | | may ask you for more detail during the credit |
| at the credit bureau. It is important to keep copies of | | | | application process. |
| everything, including your letter and your postal receipt | | | | Some lenders will pay attention to such notes and |
| to establish a paper trial. | | | | some will not, but it is a better option than nothing at all. |
| In your letter, be polite. You should not be threatening | | | | Such notes will not affect your FICO score but will |
| or abusive in your letter. Calmly and clearly state the | | | | affect your credit history. More importantly, it leaves a |
| problem and request an investigation. | | | | paper trail of the problem that lenders can consider if |
| Point out that you are aware the bureau is required to | | | | they choose. |
| investigate your claim within thirty days and note that | | | | Clearing credit report mistakes is only a first step |
| you will follow up. Be pro-active. Make sure you follow | | | | towards boosting your FICO score but it is a vital step |
| up with the issues you raised in your letter. Just | | | | that you should take starting today. |