The credit report plays an important role during mortgage approval and for other real estate purposes. DC Fawcett Real Estate In that case, the credit report should be perfect. If there are any errors in the credit report, it is our prime duty to rectify it as soon as possible.
DC Fawcett Reviews lists the possible solutions
that will fix the errors in the credit report.
- There are 2 ways by which the errors can be fixed. The first way is to approach the credit reporting agency; they will guide you and fix the errors.
- The other way is meeting the creditor who committed the error. Both approaches work at its best and investor can choose any one approach.
- The first thing is you have to check out what error it is by looking at the recent copy of the credit report.
- You can get a copy of the credit report from credit bureaus or download from government aided sites. The investor is allowed to get a free copy of the credit report per year.
- The next job of the investor is to collect the evidence that will help in fixing the error. Also he should be responsible enough to have copies of the related documents that supports in making the necessary changes in the credit report.
- Take sufficient number of photocopies as you should not submit the originals of these documents.
Beware of scammers:
who pretend themselves as members of credit bureaus and ask original documents. The credit bureaus request the investors to submit the necessary photocopies for making required changes. The errors can be clerical while recording payments or misinterpreting social security number or when you have experienced scam.
After gathering all the information, the investors have to write a formal letter to the credit bureau with all the supported documents enclosed. The letter should be in requesting tone, your letter should also contain the following important information.
- The investor’s full name, address, date of birth, and Social Security Number
- Include both residential address; the currently residing and the permanent address
- The creditor’s name and details of the account (specify the account number and when the account was started)
- Briefly explain about the necessary changes to be made in the credit report.
- Details of the enclosed documents.
You can e-mail or send the letter via a courier. The credit bureau will take time to investigate and will respond in 30 days. The result of the report will be informed later. It is better to intimate the creditor who committed the error that you have contacted the credit bureau regarding the changes to be made in the credit report.
The investor can also request the creditor to make those changes on the safer side. Send the same information to the creditor which you sent already to the credit reporting agency.
After 2 weeks, you can contact the creditor to check whether the changes have been made or not. Since he is the root cause, he must rectify the errors first. Make sure that no such mistakes happen in future. In case you have misplaced the supporting documents, the credit report agency will have a copy of it and you can claim your copy.
To know more about importance of credit report, browse through DC Fawcett virtual real estate investing club.