You should frequently check your credit report at least twice a year to know what your credit profile looks like. Sometimes erroneous items appear on credit that you may not know about and when it comes time to utilize your credit it can affect the rate you will get. Depending on the state you live in, you are allowed at least one free credit report per year from each of the three major credit bureaus; Experian, Equifax and transunion.

the credit bureaus are not government run agencies, but are for profit, multi billion dollar industries that make money off of selling your personal information. It is proven that they make more money off of you with bad credit, rather than good credit, so don’t believe everything that they tell you in results you receive back. Make sure to spend time, in detail, looking at your results and ensuring things like the date of verification have the current date. 50% Of transunion verified accounts have old verification dates, which means they never investigated that account, yet put verified as a result anyway.

Under the fair credit reporting act effective october 1, 1997, a credit reporting agency has 5 days from the date of receipt of a written investigation request to contact the appropriate credit grantor about investigation the complaint’s) and receive a reply back within 30 days of the original notification date. Within 5 business days after the completion of the investigation, the credit bureau (I.e.: Equifax, transunion, Experian) must send a written report to the consumer with it’s findings with a copy of the revised report if there were any changes made.

Credit reporting is an imperfect system and there are times when you’re credit is tainted and it’s not your fault. Equifax, Experian, and transunion don’t always report the same information.

the fcra (fair credit reporting act) requires each of the three consumer credit reporting companies, Equifax, Experian, and transunion to provide you with a free copy of your credit report, at your request, once every 12 months. This is a new law that was imposed in december of 2004. It was started in phases depending on what state you lived in so that everyone would not overload the credit bureaus all at once. The law is not fully implemented throughout the nation. It is highly recommended that you should obtain a free credit report from each of the three main bureaus once per year to check for any errors or false information. You can obtain a free credit report by calling 1-877-322-8228, by completing the annual credit report request form and mailing it to: annual credit report request service, p.o. Box 105281, atlanta, ga 30348-5281 or by visiting any of the three credit bureaus online. This free report will not provide a credit score for you but will be instrumental in providing you with the information that is contained in the credit report. This is the first step to fixing your credit report errors. Also, anytime that you apply for anything and are turned down for credit reasons they will provide you with a letter that explains how you can go about getting a free copy of the credit report used in the credit decision. Again this is the first step to correct errors on your credit report. The next step is to contact the credit burea(s) with the errors listed and ask them what needs to be done next and they will explain the necessary steps for you to take. You can also do this all online after you obtain your free annual credit reports. When obtaining your free annual credit reports it is best to do each report separately so that you are able to dispute erroneous information with each credit bureau properly and expeditiously. Consult your personal mortgage professional if you should need any further help with fixing credit errors.

Here are the names, addresses and phone numbers for the three major credit bureaus. Equifax credit bureau p.o. Box 740241 atlanta ga 30374-0241 (800) 685-1111Experian (formerly trw credit bureau) p.o. Box 949 allen tx 75013-0949 (888) 397-3742transunion corporation (credit bureau) consumer disclosure center p.o. Box 390 springfield pa 19064-0390 (800) 916-8800 (800) 682-7654 (714) 680-7292

To dispute a credit report you must go online to the proper credit repository, mail them, or call them and request a consumer dispute statement. There are three credit repositories and here they are with the addresses, phone numbers and web sites to handle disputes; Equifax information service attn: disputes p.o. Box 740256, atlanta, ga 30339 800-270-3435Experian attn: ncac p.o. Box 2106 allen, tx 75002 888-567-8688transunion transunion corporation attn: disputes p.o. Box 390 springfield, pa 19064-0390 800-888-4213generally a dispute form will need to completed and submitted, along with any applicable documentation you may have (if any). The credit repository then has 5 days to contact the appropriate credit grantor and then 30 days to receive a reply from the credit grantor. Within 5 days of the completion of the investigation, the credit repository must send a written report to the borrower with it’s findings and a copy of the revised report if there was any change.

Federal legislation has required that each of the three (3) major credit agencies make your credit report available to you once per year. Simply check your credit report for errors, omissions, etc. By logging onto www.annualcreditreport.com and have access to your report from Equifax, Experian, and transunion. From there you can dispute inaccuracies and potentially get them removed, best of all it is overseen by the government and it’s free!

There are many things you can do to either help or hurt your credit score. Your credit report is based upon information that is reported to the three main credit bureaus, transunion, Equifax, and Experian, by credit companies whom you have an account with. The credit bureaus also obtain information about accounts you have in collections, and judgments you have against you.

Make sure you keep tabs on your credit profile by checking your credit report for errors and inaccuracies at least once per year. You are able to access your credit report from all three credit repositories, Equifax, Experian, and transunion, online one time per year for free. By checking your credit at least one time per year this is going to help you to prevent or correct any inaccuracies that may be reporting to your credit profile. Preventative maintenance is the best form of credit repair there is available, along with learning the basics of credit and credit scoring. There are many things that can be done by you, the consumer, to help improve and maintain a high credit rating and credit score. Here is a short list of some simple tips that will help you maintain a good credit record and credit score: * pay all of your bills on time * never max. Out your credit cards * try to keep your credit card balances under 50% of what your maximum credit limit’s are * keep your credit applications to a minimum and do not apply for credit all year round * do not close your credit card accounts after you have paid them off. The length of time your credit accounts are open will help improve your credit rating * check your credit report for inaccuracies with all three bureaus at least once per year the best form of credit repair is understanding the basics of credit and credit scoring, and this following this information will help your credit profile much more than alternative types of credit repair. Do not wait until you are getting ready to buy a new car or a new house to check your credit reports. Stay on top of your credit profile to take care of problems, or errors, when they happen instead of when you need to get approved for financing. 29% Of all credit reports contain serious errors. That is almost one out of every three consumers that are affected by serious errors that can greatly affect they type of financing you are being approved for. Approximately 70% of all credit reports have at least minor errors or inaccuracies of some kind. Those are some pretty unbelievable stats. Especially when you consider how important of a role credit plays in your life now-a-days. Employers check your credit report when you are applying for a job, insurance companies check your credit when you are applying for a new policy, credit card companies, auto companies, banks, mortgage companies, and the list goes on and on. Please consult a mortgage professional to find out more about tips to improve your credit, preventative maintenance on your credit, and about credit repair to make sure you qualify for the financing terms you deserve.