Have you ever found yourself in a situation where you needed to fix your credit report? Is it even possible to fix it? There are a lot of people who have found themselves baffled by a certain development in their credit history. They find out upon receiving their credit reports that there are inaccurate and questionable statements or damaging items, and they are left baffled as to how to proceed to rectify their situation. Some people even panic especially if the mistake is damaging to their credit score and thus, will smear their credit reputation.
In this situation, can you still fix your credit report? Yes, you can still do something to fix your credit report. This is the beauty of checking your credit report regularly, when situations like these happen you can immediately make your move to find the remedy to your problem. At the very least, you should check your credit report yearly.
What can you do to fix your credit report?
Well, first you have to review it all over again. Take note of the bad or inaccurate items. Then, you can try arranging them in order of severity. Prioritize those that will cause more severe damage than the others. If the bad items are true, there is really nothing one can do to change it, except to do better from that point onward. But if the bad items are untrue or there are inaccuracies, you can start gathering proof for each which proves contrary to what was stated in the credit report.
Also take note of a negative information your creditor has recently placed on your report but has failed to notify you because that is a violation of the law and you can use that to ask the creditor to remove it off your list.
You need to look out for the following, and this is arranged according to severity in decreasing order: bankruptcy, foreclosure, repossession, loan default, court judgments, collections, past due payments, late payments, credit card rejections and credit inquiries.
Who do I report this incident to?
To fix your credit report, you need to report it to the credit bureau and the creditor. Inform them about the inaccuracies in your credit score and report back it up with photocopies of proof of your claim. Keep the original and document or chronicle the whole process, make it as detailed as possible. Worse comes to worse, if it all boils down to a legal battle you have supplementary evidences for your claim.You can also make an inquiry with the creditor furnishing the information, inform them of the mistake and tell them to correct the information they sent the credit bureau as soon as they can.
How do I inform the credit bureau or creditors of this incident?
You should inform them via phone and letter. Send them a certified letter with a copy to back-up your position then call them. Be as meticulous as you can. Chronicle every correspondence.
Finally, if you get a response, do not forget to confirm if they were able to fix your credit report, even in triumph, one cannot be too careful!