Your credit report details your debt obligations and repayment history, among other things. Consequently, this report usually serves as one important factor in determining your credit score, which can be central to your purchasing power and borrowing opportunities.
Unfortunately, however, not all of the information on credit reports is always up to date or accurate. And, in some cases, this inaccurate information can negatively impact you and/or your credit score.
Common Credit Report Mistakes
Although mistakes can appear on credit reports for a number of different reasons, when they do, they often take the form of:
- Wrong personal information – Names, addresses and even social security numbers are not always current or accurate on credit reports, so this is the first place to look for possible errors. Correcting your identifying/contact information is important because it can prevent future errors, such as your information being sent to an old address, information for someone with a similar name/SSN appearing on your report, etc.
- Outdated debts – Once you have repaid a debt obligation in full, this should be noted on your credit report. If you notice that some of your past/satisfied debts appear to be “outstanding” on your credit report, it may be time to contact the creditor and have them report current information to the credit reporting bureau. Fixing these types of errors can result in a boost in your credit score.
- The wrong amounts listed for existing debts – For debts you know you are currently making payments on, be sure to check the amounts listed on your credit report. If a larger amount is listed than you may currently owe, again, the creditor may have misreported information about your debt to the credit reporting agency; and correcting this type of error can again be beneficial to your credit score.
- Debts you did not acquire – This may be one of the single most important credit report errors to look for and deal with ASAP because these types of debts can be red flags of bigger issues, like possible identity theft.
Find a Mistake? Here’s What You Should Do Next…
- Contact the creditor associated with the erroneous debt information and submit a request to have this information updated. You may have to send in a written request, including evidence supporting your position/request.
- Contact the credit reporting bureau to see if there are additional steps you may need to take to get your credit report up to date.
Contact a Denver Bankruptcy Attorney at Garcia & Gonzales, P.C.
Are you looking for real relief from serious debt? If so, you can trust the experienced Denver bankruptcy attorney at Garcia & Gonzales, P.C. to provide you with experienced help, honest answers and the highest quality legal services.
To learn more about your best debt relief options, as well as how we can help you, contact us today by calling (303) 839-8888 or by emailing us using the drop-down contact form at the top of this page.
When you contact us, you will communicate directly with one of our attorneys, not a paralegal or legal assistant. We welcome Spanish-speaking individuals to contact us also – hablamos Español.