Anyone can correct their own credit report if they follow these six simple steps:
1. Get your credit report
Contact the credit bureaus by mail, telephone or the Internet. Get a free copy of your credit report from each of the two major credit bureaus. You should also get your credit score at the same time. Unfortunately, although your credit report is free, getting your credit score will cost your money. Your credit report and credit score are available over the internet for a fee. The internet is a convenient way of monitoring your credit report and credit score in case it changes over time. For a fee, the credit bureaus also offer a service that monitors your credit report for a year and immediately sends you an alert by email if a negative item shows up.
2. Looks for errors
Check credit reports thoroughly. Look for inaccurate or missing information. If you need help understanding your report, do not be afraid to call and ask for an explanation of the codes and terms. The credit bureaus will be happy to assist you.
3. Contact the credit bureaus to correct personal information.
Contact the credit bureaus to correct your personal information such as spelling of your name, address, employer, date of birth, spouse's name, etc.
4. Contact the credit bureau member to correct financial reporting
If a credit bureau member (your creditor) has reported wrong information, such as a late payment that was not actually late, then contact the member directly. Do not contact the credit bureaus about these items. The credit bureaus only report what the member has told them. The member has an obligation to report accurately to the credit bureaus by instructing the credit bureaus to correct your credit file. The credit bureaus in turn have a duty to correct your file immediately.
5. Verify that your credit report has been corrected
Get another copy of your credit report. Make sure you see the changes that were promised to you. Follow up with your creditor and with the credit bureaus until you see those corrections.
6. Monitor your credit report
Finally, once your credit reports are free of errors or misstatements, you need to monitor them on a regular basis. Look at your credit reports at least every six months for a while. It is free. Nipping a problem in the bud, before it grows into a time-consuming and costly setback, is well worth doing.
