Studies show that nearly every consumer has errors on their credit reports from
the three major credit bureaus. They may be clerical errors, mistaken identities,
inaccuracies, or incomplete data reported. The fact of the matter is the bureaus
report information they receive from creditors; they do not verify the information
they are reporting. If the creditor reports information that is incorrect, inaccurate
or a mistake, it is now on your credit report for creditors and potential lenders to
see when they are reviewing your reports.
The credit reporting system is not perfect and because of errors, inaccuracies and
mistakes, many consumers do not have accurate credit scores and reports and
that affects the way lenders and credit issuers review your credit risk. If this is
you, a bad credit report will cost you money. You can fix your credit, and there are
consumer laws in place to protect you.
Fixing your credit is more than just about fixing your credit score. It is about
repairing the errors so that your credit is a true and accurate reflection of your
credit history. Every error, outdated and incomplete account history should be
carefully reviewed, verified and corrected. It requires diligence and thoroughness
in order to get the job done correctly. Inaccurate, unverifiable and incomplete
information must be deleted, removed, updated or re-characterized by the credit
bureaus and creditors.
You can fix bad credit and establish a solid credit reporting history at the same time.
Positive information on your credit report will help to build your credit profile while
you are working to fix the errors on your credit report. This tandem work can be
incredibly effective in improving your credit and your credit score.
Start today to fix your credit and build a good credit history.