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Regularly Monitor Your Credit Report to Keep Errors Away
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Posted On :
Nov-28-2011
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Article Word Count :
469
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By registering the mistakes to agencies it is assumed that you care for your credit score, which is necessary as it is monitored everywhere. So it is important to regularly check your credit report to avoid any discrepancies.
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So why is credit report checking necessary? It has to be monitored for errors and potential fraud. The report now is checked by lenders and financial institutions before processing applications for the funds that individuals seek. Credit scores are measures that are used to check your worthiness, so it is necessary to keep your credit history clean for good scores.
Noticing errors on your credit report
If you notice a line of credit for which you haven’t applied or if you come across any discrepancy in your payment history, you have to open a credit report dispute for these types of mistake and get them resolved. You have to report them to the credit reporting agencies as soon as you find out about the mistakes. They should be corrected so that they do not ruin your credit. And needless to mention, a lower credit score is a major reason for paying more for loans.
Fixing flaws on your credit report to enhance the score
It feels absolutely good to acknowledge that mistakes and other negative entries on a credit report can be corrected. Proceeding with a credit report dispute is a major step in the process to remove the errors.
• Begin with sending your facts in writing to the agency. The issue should be aptly addressed in the dispute. Send a copy of your report and highlight the items that you want to get corrected in your credit report.
• Ask the agency to pay attention to and research your dispute. You should support the dispute with copies of letters or documents. You can send them the photocopies and preserve the originals safely.
• It is a wise and good idea to mail a copy of the papers to the company that is mainly responsible for the error. For instance, your credit report reflects that you have not paid an amount to ABC store, so then you should send a copy of the invoice to the store and ask them to remove it as it is displayed in your credit report.
• You can go for the second dispute even if the first attempt is against you. After the second attempt, if the dispute is not taken off then you can seek an added note on your credit report, which will not affect your credit scores.
With a free credit report provided by each of the three agencies in a given year, individuals can access their credit report for free. Checking the report will make you aware of any flaw in your history. But you should monitor your credit report more frequently, so you can easily and quickly begin the dispute process if an error is encountered.
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Article Source :
http://www.articleseen.com/Article_Regularly Monitor Your Credit Report to Keep Errors Away_110554.aspx
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Author Resource :
Looking for your free annual credit report? You can get your credit check and a free credit score at www.creditreport.com with unlimited access to your report and score for 30 days, the credit monitoring service, credit alerts and much more support on your credit reporting from the three credit bureaus.
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Keywords :
Credit report, credit check, credit score, creditreport, free credit report, free credit check, free credit score, credit rep,
Category :
Finance
:
Personal Finance
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