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How to find and Correct Errors in your Credit Report and Credit Score.

Tracking your Credit Report, File Dispute with Credit Bureau and Creditors, Write Statement on your Credit report for free.

Your Credit Score is very important especially when you are looking for a loan or other credit and financing. This will affect if you are able to get a loan and at what interest rate. A bad credit score will increase your borrowing costs due to increased interest rates and in some cases, can make you be denied a loan at all.

Therefore you need to be diligent in making sure that your Credit Report and the resulting Credit Score and FICO Score are accurate.

You can track your credit report by ordering a Free Credit Report that is by law available to you every year at There is also another free service called where you can track your credit report from Experian and this will alert you to any changes.

A recent study discovered that as many as 5% of consumers have errors in their credit reports that affected their ability to borrow a loan and the interest rates they are charged. These errors may be things like Credit cards appearing on your record that you don't have, or charges appearing on your report that you have not made.

The good news is that most people are able to correct these errors if they filed a dispute with the Credit Bureau.

It is therefore advisable to review your credit report at least once a year and if you find any errors, report them promptly to the Credit bureau.

The errors you need to report include:

Inaccuracies in your Account information

If you find some information about your account that is not accurate, for example, showing credit debt that is higher than you actually have, you need to report this because it can affect your credit score.

Information that is not yours

If you find things appearing in your credit report that are not yours, for example you find Credit cards opened in your name that you did not open, or loans, or purchases on credit that you did not make, this needs to be reported immediately to the credit bureau to avoid it damaging your credit.

Negative information remaining past allowed time

If for example you filed for bankruptcy or had a foreclosure on your house, that information should remain in your credit report for a specified amount of time. This is by federal law. For Bankruptcy, it is usually ten years and for Foreclosure, it is usually seven years.

So if you find this negative information remaining in your report past the allowed by law, you should let the credit bureaus know about it and ask them to remove this information because it will damage your ability to get credit or loans.

Sometimes you may file a dispute with the credit bureau and they don't do satisfactory investigation or don't correct the mistake. The good news is that you can make another complaint especially if you have additional documentation to back up your case. This will make them open a new case for investigation.

You can also file a dispute directly with the bank, credit card company or Retail Store that reported the wrong information about you to the credit bureau. They are required by law to investigate and correct any mistakes they find.

Another thing you can do to mitigate the negative information in your credit report is to Add a statement to your credit report explaining what happened and how the errors came to be and why they could not be rectified. You are allowed up to 100 words to do this and can do it for free.

Therefore don't pay a Credit Repair Company to do it for you because you are allowed to do it on your own and for free.