A quick tip from Lynnette Khalfani-Cox, The Money Coach®
It is estimated that 70%* of all consumer credit reports contains mistakes and some of those errors are serious enough to keep you from being approved for credit. If you’re in the market for a credit card, auto loan or mortgage, be sure to pull your credit reports first — before applying — and fix any mistakes.
The easiest, simplest way to fix errors on your credit reports is to use the online dispute resolution services offered by each of the credit bureaus.
Under the Fair Credit Reporting Act, credit bureaus must remove any information that is outdated, erroneous or can’t be verified if you dispute it. Remember, having a clean, accurate credit report could help you get a “yes” on a loan and get the best loan rates and terms.
*Source: Federal Trade Commission Study
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