According to data from the Federal Trade Commission, about one in every five Americans has some kind of error or mistake on their credit report. Allowing serious mistakes to hang around on your credit report can damage your score and even force you to seek credit repair services.
Therefore, you should make a habit of checking your credit reports for errors once every year. Here are some of the most common mistakes found on credit reports — so be sure to keep your eyes open for them when you review your reports!
Duplication Errors
If you see one debt listed on your report more than once, it’s likely a duplication error. Duplication errors can have a major impact on your score if they’re negative, so be sure to report these errors as soon as you notice them.
Identity Errors
If you have a common name, it’s possible that a credit reporting bureau might list items on your report from a person with the same name. Be sure that you recognize each item on your report — and call a credit restoration service if you have items that you don’t recognize. This can be a simple mix-up or a sign that your identity has been stolen.
Incorrectly Reported Payments
Notice a missed payment on your student loan or credit card that you’re sure you paid on time? Report it to the credit bureau that issued your report! By law, the credit reporting bureau must investigate your claim. If the company cannot produce documentation proving that the statement is correct, they must remove the item from your credit report.
Improving your credit doesn’t need to be a struggle. Quality Credit Repair is here to help you improve your score and unlock new opportunities for you and your family. Give our team a call today to learn more or get started!