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Errors on your Credit Report
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What do you do if your Credit Report has errors?
| Keep track of your credit report. Be sure you review it at least once a year, especially before you appply for car loans, credit cards or a mortgage to be sure it is error-free.
Errors that can show up on your credit report include:
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- Mistaken identities
- Misapplied charges
- Uncorrected errors
- Inconsistencies
- Inaccurate information
- Misleading information
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Errors do happen on credit reports. But the errors and inaccurate information can be corrected by contacting the credit reporting agency (see the credit bureau address page). The process of correction may take as long as 45 days so be sure to check your credit report a couple of months before applying for a big ticket item like a mortgage.
As a general rule, your credit history remains on your credit record for 7 years whether it is good or bad. Personal bankruptcy will remain on your credit record for 10 years. (except Chapter 13 Bankruptcy which remains on your report for 7 years).
Check your credit report and remove any errors you find!
Procedure in case of disputed accuracy:
(from the Fair Credit Reporting Act)
- Notify the credit reporting agency that you wish to dispute the completeness or accuracy of any item contained in your credit report
- The agency then has 30 business days to investigate, free of charge, and record the current status of the disputed information.
- If the disputed information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item from the consumer's file or modify that item of information.
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