How Do These Mistakes Happen?
Most of the time, mistakes are usually found to be caused by credit accounts changing hands, or when creditors provide the wrong information to credit bureaus. Other times, it can be a computer error, while some are simply because of human error.
How Can I Make Sure This Doesn’t Happen To Me?
The first thing you should do if you already haven’t, is to request your credit score, along with a credit report. Because identity theft is such a huge problem across the world, it is recommended that you check your credit score at least once a year, if not twice. According to federal law, the three largest credit reporting agencies; TransUnion, Equifax, and Experian will provide customers with one free credit report per year.
What If I Find an Error?
If you do happen to find an error in your credit report, the first thing to do would be to contact the credit bureau, which you can either do by letter, e-mail, or telephone, and in turn have to contact the creditor that supplied the mistaken information. This is usually called “Opening Up A Dispute”, which many of the credit agencies websites will allow you to do online these days. It is required that the credit bureau respond to your dispute within thirty days. If you aren’t totally satisfied with the outcome, you can ask them why it was settled the way it was.