Are these credit inaccuracies holding you back?

Did you know that ⅓ of all Americans have found mistakes on their credit reports*? 

If you're one of those folks, that could mean that you have a near-instant credit boost hiding in plain sight! 

But how do you determine if the credit bureau has errors on your report? And more importantly, how do you correct those errors so you can make a leap forward in your homebuying journey?

Three steps to clearing your name of credit inaccuracies:

1. Check your credit report

Request a free copy of your credit report and check all the information thoroughly. 

2. File a dispute

If you do find any errors, file a dispute providing a detailed explanation about the mistake you see. Disputes can be filed online, but it's best to send yours through certified mail to include any documents supporting your claim. NOTE: If you're applying for a mortgage or hope to apply soon, please consult your loan officer before filing any disputes.

3. Inform the creditor

Once you've filed a dispute with the credit bureau, you are also required to inform the creditor that you are disputing an item on your report. Again, it's best to send a detailed explanation in writing through certified mail.

One more thing

One important thing to note is that this process can take weeks or months to resolve. So if you don't hear back from the credit bureau within 30 days, you may want to follow up with a second letter. 

Don't let the timeline scare you off, though. Getting inaccuracies fixed on your credit score can be a major step forward for your homebuying goals! 

*Source: https://www.cnbc.com/2021/06/11/how-to-fix-those-mistakes-on-your-credit-report.html