Fix Credit Report: Why Is a Periodic Review Necessary?
Eliminating errors is the first step an individual should take to fix credit report data. You are entitled to one free copy from each of the main agencies yearly and can use this opportunity to learn what lenders or creditors are seeing when they are assessing approval risk.
Obtain a report from these three agencies:
- Trans Union
Visit www.annualcreditreport.com or call 1-877-322-8228 to receive this free information. You have the option to order them all at once or can select certain ones for review depending on what is being assessed. Name, current address, and your social security number are required when making a request. An individual can also receive it for free in situations where an application has been denied as long as the request is completed within sixty days of the denial.
The report conveys specific data about your current residing location, bill pay patterns, bankruptcies, and other legal actions. The data is sold when a hard inquiry is made by a third party for a line of credit. These can be lenders, card companies, insurance providers, or an abundance of other services. The information must be accurate in order for the right impression to be made. Review this data periodically to verify correctness and prevent identity theft.
Errors can make their way onto your report for many reasons and have the possibility of having a negative effect. Items such as another individuals account, unknown inquiries, and bad account data lower scores. Every item must be evaluated thoroughly to ensure the right impression is given. Remember that only inaccurate derogatory data can be immediately removed as you fix credit report information. If a bankruptcy was filed five years ago, expect to still see this information. It naturally falls off after seven to ten years and becomes less impactful as time progresses. Send a letter of dispute to the credit bureau to initiate an investigation regarding inaccurate information. Additional actions can be taken after errors are removed and will depend on the current credit situation.
TURNSCOR is the industry leading Credit Repair Company to assist you to fix credit report.
No need to invest hundreds or thousands of dollars to pay a lawyer or third party to do what you can do for yourself. This was the sole reason we developed TURNSCOR. The major credit bureaus and creditors would like for you to remain uninformed, thus allowing them to charge you higher rates of interest based on your personal credit scores. This reason alone makes it very difficult to build wealth without a high credit score. Get started today.