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by: RobertBain
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Are there errors on your credit report? Even though you likely have a very busy life, this is something you should be checking on regularly. While you can get a free copy of your credit reports annually, many people choose to pay for a service that allows them to check on it regularly. Some errors on credit reports go undetected for a very long time though.

Sometimes these errors are the result of information not being reported correctly. For example you may have paid off a balance on an account but it is still being shown as something you owe. You may trade in a vehicle for a new one and then find out your credit report is showing two open accounts for auto loans instead of one.

Other types of errors on credit reports though indicate someone else is accessing your information. They may have opened accounts in your name and now you are getting negative marks on your credit. Regardless of the type of errors on your credit report though they are going to affect your ability to get credit as well as the interest rates you will pay for it.

Don't assume that what is on your credit report from one reporting agency is the same as the other two either. In many instances the errors will be the same but if it is an in house data entry problem then it will only show up on one of them. That could be the one credit report though that your particular lender is looking at. The process for getting errors corrected can really drag out so make sure you get the ball rolling as soon as you can.

With this in mind, request a copy of all three of your credit reports. Once you have them in hand go over them in great detail. Avoid distractions so you can really focus on the information you are reviewing. It is a good idea to go over one credit report at a time in its entirety. Make notes of anything you aren't sure is correct so you can look into it further.

If you do indeed find errors, you need to gather as much information about the account as you can. This is the only way you are going to be successful with getting the issues resolved. You will need to submit the information to each of the three credit bureaus. Don't just send the information to one of them as you will continue to have issues with the wrong information on them.

Take your time to gather the information you need. This way you can provide the credit bureaus with all the information. Always make copies of everything to send to them so you can hang on the originals. You want to submit a letter, your credit report with the errors marked, their form for reporting a dispute, and your verifications. Always send by a method of mail that ensures you have verification they received your materials too.

Don't wait to identify and resolve errors on your credit report until you are up against a wall. You need to know exactly what is on them so you will always feel confident when you apply for new credit. Some types of errors can be cleared up in a couple of months. Large issues though including identity theft can take years to get cleared off of your credit reports.

About the Author

Robert Bain is fascinated by the secret credit industry. He follows personal credit related issues such as credit cards, debt relief, home owners loans, secured personal loan and scams.

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