Your Credit Report contains all the information about you: your name, address, your financial health checkup almost everything. According to Brian Linnekens in the present economy this is the most essential document that should be in order. Even a single mistake or error on the credit report can spell doom not only for an individual but also for the whole family and everyone who is depending on you for finances.
Not many people are aware that they can challenge the errors and get them rectified from the credit reporting agencies. In fact Brian Linnekens informed us that a majority of the people will accept and live with the fact that their credit reports contain an error that is hampering their chances of getting a loan or finance for something that they really need. These people are under the impression that the credit bureaus do not have ears and are not going to listen to them. Sometimes people don’t even have an idea that something is wrong on their credit report since they never go through them in detail.
Brian Linnekens stresses the importance of keeping an eye on your credit report since you need to be aware of the various changes that take place on it. Almost all transactions that you make in terms of your finances are there on the credit reports. Keeping an eye on your credit report serves quite a few purposes that are really important. You can be alerted in cases of identity theft. If someone has been using your name address or phone number to carry out financial transactions that may hamper your long term financial health. Frauds carried out in your name can be easily detected if you are watchful in terms of your credit report.
If ever you find an error on your credit report you have full right to rectify it and since it does not involve any heavy costs it is the best thing to do without even getting professional assistance. However if one opts for professional assistance chances are that things will move at a better pace feels Brian Linnekens, an expert in financial matters.
To correct your Credit Report you need to get in touch with the credit reporting agencies that is Equifax, Experian and TransUnion. Make sure you have identified all the items that you are disputing on your credit report. Your statements in your correspondence need to be crisp and clear so that the Credit Unions are able to process your request fast and precise. You have full right to dispute and apply for correction or deletions for the items that you think have been wrongly placed on your credit report. Make sure you attach copies of the supporting documents that you are sending in to substantiate your claim for a correction.
Send all the documents and correspondence to the credit bureaus via certified mail, return receipt requested so that you are aware that they have received your request. The Credit Bureaus will investigate your claim and remove any errors or red marks that are present due to oversight or wrong reporting however the changes will only be visible when the next credit report is going to be generated which may have a TAT of 90 days.