Credit Report Problems? More than 25% of people found false information that lowers the credit score

Credit report errors are incredibly, and disturbingly, common according to a new study from Consumer Reports magazine.  In the study, 4,300 people tried to check their credit reports and were unable to gain access.  That’s bad but here is what’s even worse — more than 25% of those who could access them found important errors that were serious enough to LOWER their CREDIT SCORES!  Things like reports of late payments, when the payment wasn’t late; problems like reports of missed payments that were not missed, and reports of accounts in collections where people did not even recognize the account.

Whether or not you are worried, do this: use the free service at AnnualCreditReport.com, or at each of the credit bureaus’ websites. (You can also request your credit report by mail if you’re unable to get the report online.)

Spot a mistake on your credit report? File a dispute. First gather up your evidence—account statements and payment records, for example, and print them out. Then write a letter to each of the three credit bureaus. Make copies of the entire packet, include one for yourself, and send them via US mail, certified, to each of the credit bureaus. (The Post Office has forms for certified mail and will help you at any Post Office.) You want to create a paper trail. Companies have 30 days to respond.  If your dispute is denied or no action taken, consider hiring an attorney who works in credit law.  You can call or contact the Hanson Law Firm, 858.451.0291 (contact@thesandiegolemonlawyer.com) for free advice on what to do next.