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Repair Your Messy Personal Credit Report |
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The Basics of Personal Credit Report Repair. Repairing personal credit report does not mean doing it by yourself on your own as there is no dearth of firms willing to do it for you. The fact is that your personal credit report is most likely to require some repair sooner or later. Remember, forewarned is forearmed. The actual process of repairing personal credit report can be pretty simple but whenever bureaucracy is involved, nothing can ever be simple. Then, it's the details that assume the most importance. --First, get yourself copies of your personal credit report, of which there will be three, from each of the three national credit reporting agencies (CRAs), Equifax, Experian (formerly TRW) and TransUnion. --Second, scrutinize your personal credit report for the minutest errors and rank them in order of importance to get them repaired and removed from the report. --Third, notify the CRAs about the errors that you have found to require repair, to get them corrected and removed from your personal credit report. How To Acquire Copies of Your Personal Credit Report? It won't be long before you are able to get free copies of your personal credit report from the three CRAs Equifax, Experian (formerly TRW) and TransUnion. From December 2004, the personal credit report will have initial availability throughout the nation for a nine month period. When availability reaches your state, you can request copies of your personal credit report every 12 months from a centralized source implemented by the three national credit reporting agencies (CRAs) Equifax, Experian (formerly TRW) and TransUnion for access over telephone, the mail and website. A copy of your credit score is not included. Additional copies usually come for about $9.00 each. An additional fee may also be charged for a copy of your credit score. Before availability of the centralized source in your state, you will have to get in touch with all three CRAs Equifax, Experian and TransUnion separately to get a copy of your report. On paying a fee to the agencies, you will receive a copy of your personal credit report. Checking Your Personal Credit Report for Erroneous Data and Repair Once you receive a copy of your personal credit report, you'll require the help of the secret decoder handbook available with each CRA Equifax, Experian and TransUnion. The purpose of the handbook is to format and code data differently. With this handbook, you'll be able to decipher and interpret the contents of your personal credit report. Having done this, scrutinize the details on the report for possible errors that may be in need of repair. Here it isn't always necessary that all errors will require repair. The errors on your report that are capable of damaging your credit rating certainly can be repaired but this isn't the case for all the errors. Sort the errors ranking them in order of importance in your personal credit report. Doing this will enable you to give priority to the most pressing ones first. Asking The CRAs To Repair Your Personal Credit Report Having identified and ranked the errors in your personal credit report, you need to ask the three CRAs Equifax, Experian and TransUnion to rectify and remove the errors. The reason you have to ask them is because the data belongs to them, even if it concerns you. Therefore you have to write to the three CRAs, Equifax, Experian and TransUnion mentioning your full name, Social Security number, current address and explanation of the errors in your personal credit report. While being polite, make sure you are firm in your tone as they are after all, obliged to do their part in sorting out your problems. You can take the help of sample letters that cover a variety of situations and are easily available online. |
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