Many people do not know how to check their credit history. It is important to be aware of this financial information because it plays a huge role in the way that your personal finances can be managed. Many consumers today have issues with their credit that need to be handled. Here are some tips on how to check and repair your credit record.
How to Check Your Credit Report
There are three credit bureaus that maintain a person’s credit records. These are Equifax, Experian and Trans Union. People can go online to free credit report sites to request a free copy of their credit report from each credit reporting bureau once each year. It can be helpful to do this once every four months so that you can have up to date reports throughout the entire calendar year.
People will have to provide their Social Security number and relevant information such as address and date of birth to access all of the information. The credit report will be multiple pages long. Each credit account will be listed as well as the overall payment history. People need to look for any items that are wrong so that a dispute can be filed.
How to File a Dispute
People can file a dispute online or complete one by mail. If people have items that are wrong then they should provide proof that the credit record is inaccurate. The information will be reviewed and then the company will decide if it will remove the requested item or not.
How to Repair Your Credit
Many people have delinquencies or negative items on their credit report. Sadly, this can tarnish a person’s credit rating very quickly. The first step in repairing a credit report is to try to contact your creditors to get things back on track. Life happens and unfortunately this can mean that people will fall behind on their bills. It is important when this happens for people to at least try to make payments on these accounts.
Many people have accounts that have been placed with debt collection agencies. It is especially important to try to settle these accounts. People can settle the account in full or ask for a reduction. Debt collectors will often take a lower amount so that the original creditor gets at least some of the money that they are owed.
It is beneficial for individuals to be able to pay off existing balances as quickly as possible. The more that credit lines are used, the worse off the credit score will be. It is up to consumers to be able to repair their credit histories so that they can work on establishing the highest credit score possible.
There are credit repair service companies that can work with people to try to reach out to their creditors to be able to resolve the issues at hand. These agencies know exactly how to go about this. It is a great financial investment in trying to have a clean credit record moving forward.