Did you know that at least 25% of all credit reports contain errors?
A recent NBC News report revealed that 1 out of every 4 people has at least one error and the actual number could be much higher as many errors go undetected and unreported. Most people don’t find out about the errors until they go to apply for credit to buy a home or car and get denied.
A good rule is to check your credit at least once per year for errors. If you are married, you should check your credit AND your spouse’s credit because even if you have been married for decades, your credit scores and credit reports will not be the same.
If you are considering a home purchase, this is why talking with a lender is a critical first step. In today’s market, if you find your dream home and THEN discover that your credit scores are low due to erroneous information, it will take a few months to get the errors removed and you will likely miss out on the house.
Also, beware of online credit repair “fixes” as they typically yield poor results. The best solution is using the good old fashioned mail service to submit your disputes, but it must be done the right way and within the right timeline.
If you discover that your credit report has errors, give us a call! Fixing credit scores is our forté and we know how to make it happen. Reach out to us for more information.