How errors appear on credit reports and how to fix them

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How errors appear on credit reports and how to fix them
2 years ago
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Credit report errors are a common occurrence that can negatively impact a consumer's credit score along with their creditworthiness. How do these mistakes appear on a credit report in the first place and how can you fix them to make them disappear forever?

Unfortunately, credit report errors can appear on your credit report for any number of reasons. The best strategy for dealing with them is to monitor your credit reports taking advantage of your free credit report allotment along with several paid ones in order to identify these mistakes. Once you discover any mistakes, the next step is to fix them using the suggested tips.

Types of Credit Report Errors: Confusion over Name or Social Security Number
Believe it or not, name and social security number confusion do occur and can create real problems with your credit worthiness. Even using shortened versions of your legal name when applying for credit can lead to credit report errors. The biggest problem here is that important information could end up missing on your record, negatively impacting your score. Moreover, it is also possible that credit information belonging to someone with the same name can appear on your credit report- a defaulted car loan or mortgage even.

Types of Credit Report Errors: Identity Theft
Identity theft is quickly becoming the greatest problem with credit reports. Monitoring your credit history is the best strategy to take in order to keep this problem at bay. Once someone is able to steal your personal information and use it, the credit activity that they accumulate will appear on your credit report.

Types of Credit Report Errors: Creditor Error
Creditors occasionally make a mistake when reporting information to the credit bureaus. When this occurs, the errors can be minor or major, but nonetheless, these mistakes can negatively impact your credit score.

Types of Credit Report Errors: Bureau Error
Since much of the information that appears on credit reports is transcribed by real people, it is possible that numerical errors will occur. Perhaps, the numbers listed in a debt amount will be transposed or otherwise improperly entered.

How to Fix Credit Report Errors: Contact One of the Three Major Credit Bureaus
Since each type of credit report error can take a different path in order to remove it from your records, it is important to contact each one of the three major credit bureaus that shows the credit report errors to get specific details as to what to do. In general, however, you will need to provide the following information so have it handy:

- A copy of your social security card
- A copy of your driver's license or state ID photo card
- The account number that is showing an error
- The full name of the creditor in question
- The reason behind your dispute with the transaction
- All paperwork that you have to back up your claim

How to Fix Credit Report Errors: Online Resolution through the Three Major Credit Bureaus: Trans Union, Experian, and Equifax
Each of these three credit bureaus provides forms for online dispute resolution. Simply visit their website to complete the online dispute resolution process. Once you arrive at the home page for the credit bureau, navigate through the options in ?úCustomer Service??and select either online dispute to resolve credit report errors, online fraud alert to resolve identity theft, or contact us for the phone number resolve credit report errors.

By Susan M. Keenan
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