Quick Tips

Follow these “quick tips” when reviewing your credit report for inaccuracies:

  1. Validate your personal information such as name, address, employer etc. It’s not uncommon for a “JR” or “SR” to be confused on the credit report, especially if they’ve once shared the same address. Check for the proper spelling of your last name; Sharon Meyers could be a completely different person from Sharon Miers.  (I know, you think this is stretching it, but it happens more than you think).
  2. Validate that all accounts referenced in your report do in fact belong to you.
  3. Look for collection accounts that have been paid, but are not updated as paid in your report.  These inaccuracies can be easily addressed by following the online dispute instructions; and in most cases it’s as simple as checking a box that says “account paid”.
  4. Check the payment history on all accounts. The Payment History makes up about 35% of your credit score. Having a long history of  making payments on time is one of the most important items lenders look for. If there are late payments indicated in your history, make sure they are correct? In some cases even if the late payment history is accurate,  you may be able to convince the creditor (not the credit reporting agency) to remove the negative late payment information.  You stand a better chance of getting the creditor to cooperate with your request if it’s put in writing and if it was only a one time late payment with unusual circumstances.  It worked for me, but I can’t guarantee that you will have the same success as I did, but it’s worth asking. I am a firm believer in the saying that “we have not because we ask not”.
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