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How to Fix Credit Report ErrorsLegal FICO Score Credit Repair Section - Lendfast.comHow to begin correcting errors on credit reports? A recent report to the U.S. Congress stated that as many as 40% of individual credit histories contain errors of some kind. |
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Credit Report Errors |
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A single missed keystroke by a data entry clerk, for example, can assign a delinquent account to the wrong file. Corrective information submitted by an individual can be misrouted or entered erroneously.
Our economy could not function without credit reporting. We need it to make purchases both large and small, to enable retailers to accept our checks, to obtain loans for homes, cars or college education.
It is necessary for corporations to manage their cash flow for the overall benefit of the economy, and for us as individuals to manage our own finances.
For all these reasons, we must be vigilant about the accuracy of our credit report and fix errors. We need to know what goes into them, how to read them, how they are used and how to challenge errors when they occur. |
Credit Care Sections |
While credit might have once been a private matter between oneself and one's banker, this is no longer the case. Every purchase we make on credit creates a record somewhere and these records flow into the huge databases from which our credit histories are constructed. Those histories, in turn, are used by nearly all credit grantors to determine how reliable we are in the use of credit, and to decide whether or not to extend it to us.
Steps to begin correcting errors on credit reports
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