Although changing your credit score might seem like a mythical act, you have the power to change your credit score. Changing your credit score might require amending personal spending habits or paying bills in a timely manner. But all too often, the real credit score offenders live on your FICO report. And with as much as 50% of all credit reporting agency data reportedly listed incorrectly, looking at your report is the first step toward improving your credit score.
To get a copy of your report, check with the big three reporting agencies: Experian, (formerly TRW), www.experian.com, 888-397-3742; Equifax, www.equifax.com, 800-685-1111; and Trans Union, www.transunion.com, 800-916-8800. Some companies offer free credit reports, so go ahead and ask.
Federal and State laws require that derogatory information bankruptcies and other items that are not accurate or can’t be verified in a timely manner be removed.
If you find erroneous information on your report, write a letter to the credit reporting agency stating your position and why you feel the information is incorrect. Include supporting documents and request that the item be amended or deleted. The CRA is required to investigate. This will usually take about 30 days. The CRA will respond and should include a free copy of your credit report. If they don’t remove or amend the item, contact the creditor who placed the item on your credit and write to the Federal Trade Commission. Explain the problem and request help resolving the issue.
It might take time, but it will be worth the effort to change your credit score.
If you have questions about your credit and financing, HomeLoan123.com is ready to help.
Keeping you informed.
Doctor Mortgage
To ask HomeLoan123.com’s Doctor Mortgage a question, e-mail: info@homeloan123.com
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