Great Tips. Looking at my report this week. Follow Daniels Daily Reader!
There are all sorts of errors that can sneak onto your credit reports — an account that’s not even yours, a “late payment” that was actually made on time, a paid debt that’s still listed as in collections.
This can spell trouble. Your credit reports are used to calculate your all-important credit score, which determines your access to loans, credit cards, apartments and even jobs.
According to an FTC study from last year, one in 20 people have substantial credit report errors — enough to result in at least a 25-point credit score jump once fixed. That’s nothing to sneeze at.
Errors can land on your report when lenders, banks or credit bureaus get it wrong. Nevertheless, it’s your responsibility to get them fixed. “Credit reporting agencies don’t have an obligation to correct anything on a credit report unless you tell them it’s wrong,” says John Ulzheimer, a credit expert…
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