At Credit Innovations, we always try to hammer home one major point to our credit repair services clients, and that’s how important it is to regularly check your credit reports; not only for possible account errors, but also to help fight against identity theft.
But what is it exactly you should be looking for on your report when you check it? What are the signs that point out something may be amiss, and how can you root them out before they become a major issue? Well, look no further than the list below…
How to spot inaccurate account information
One of the first things our credit coaches will check on a consumer’s credit report is name, address, and social security variations (if any) listed in the personal information section. While having the wrong address on your report won’t trip up your credit score, having the wrong name or SS number can really cause a problem.
If you see your name misspelled on your report, or a wrong SS number – even if they’re only off by a letter or number – make sure you bring it to the credit bureau’s attention as soon as you can.
As to the actual accounts listed in your report, you’ll want to make sure the account history matches your own records, that all of your open credit accounts are listed as open (having them reporting closed can affect your score), and that any negative information that may have shown up in your credit history is being reported within the Federal and State statute of limitations. If they’re reporting past the 7 year timeframe, they can be disputed.
Rooting out identity theft
Always make sure to check your credit report for accounts that aren’t your own. When you pull a fresh copy of your report, check each of your credit accounts thoroughly to make sure they’re not only reporting accurately, but that they’re yours to begin with. Any accounts that don’t look familiar at all should be disputed with the credit bureaus.
Another good way to nip any attempt at identity theft in the bud is to check over your recent credit inquiries. If you see inquiries from companies that you didn’t authorize to check your credit report, or that you never applied with, it may be time to consider putting a hold on any credit applications and inquiries unless expressly authorized by you and only you. No sense in having to go through debt settlement for an account you never knew you had to begin with.
I completely agree with you that it is very important to check your credit reports on a regular basis. This will help a consumer know what items are being reported in your credit report. If a consumer finds that he/she has negative items on his/her credit report, then he/she can take into consideration self help credit repair tips. The consumer should make sure that you avoid making late payments on your existing debts. Late payments will drastically reduce credit scores. You will have to pay off all your past due bills and try to negotiate with your creditors to remove charge offs from your credit report. If you had faced credit problems in the past, then you shouldn’t open too many new accounts. Also, when you’re planning for a budget, you should take into consideration your credit and finances.
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