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Even with the importance of monitoring your credit report, too many people wait until there is a problem before worrying about its accuracy. The best defense to errors, identity fraud and more is prevention.
If you are employed, financially secure and pay your bills on time then perhaps you havenīt given your credit report a thought. In fact, even if you have dismal credit you probably donīt even want to look at your credit report for fear of whatīs on there.
Regardless of your situation, monitoring your credit report is critically important because it can indeed mean the difference between getting that loan and being rejected. There are several companies who can monitor your credit report for you and alert you of any changes to its status. While this is certainly the easiest and most efficient way to monitor your credit report, you can also try and do it yourself.
It is recommended that you obtain you credit report from one, or all three credit bureaus including TransUnion, Equifax and Experian. There is a fee associated with this but if you were recently turned down for rental housing, employment, or any loan because of your credit report then you are eligible to receive a free copy of the report.
To obtain a copy of your credit report or to monitor your credit report you can either use one of our pre-screened providers or write individually to the credit bureaus using the information listed below:
Equifax
PO Box 105873, Atlanta, GA 30348
(800) 685-1111, (770) 612-3200
(800) 548-4548 (residents of Georgia, Vermont and Massachusetts)
(800) 233-7654 (residents of Maryland)
Trans-Union Corporation
Consumer Disclosure Center, PO Box 390, Springfield, PA 19064-0390
(800) 916-8800, (800) 682-7654, (714) 680-7292,(800) 888-4213 (if you have been declined credit and want a free credit report)
Experian
PO Box 949, Allen, TX 75013-0949
1-888-397-3742
Once you obtain your credit report, there are two main things to watch out for as you monitor your credit report to make sure it's accurate:
- Ensure that all of your personal information is correct. This includes the spelling of your name, your address, etc. This is the most prevalent error in credit reports and can sometimes lead to credit information from someone with the same last name as yours being placed in your file.
- Check for errors relating to open and closed credit accounts. Pay close attention to the historical reporting of your payments, posted credit limits, balances, statuses, etc.
If there is an unfavorable report made by a creditor who has made a mistake, it can be corrected. In fact, the law is on your side to help make this happen. However, if you have been behind in some monthly payments, regardless of the reason, then the report can still stay there as-is.
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