Monday, October 10, 2005

Credit Report Inaccuracies on Employment Length

A review of your credit report might reveal several errors. Your credit report might display an error for your employment history or length of employment, for example. If you find inaccurate dates of employment or other errors within your credit file, you can take action to correct your credit report. In most instances, inaccurate employment dates within your credit report should not be a reason to deny you credit or insurance.

Information

    Information shown within a consumer credit report typically displays an individual's personal data as well as bill payment experiences. Most credit reports contain an individual's home address, past addresses, Social Security number, date of birth, creditor information, account balances, payment details and employment data. Information reported on a consumer's credit file is collected from public records and from credit-issuing companies that subscribe to credit reporting services, such as Equifax, TransUnion and Experian. Banks and other lenders review credit information to determine if an applicant qualifies for financing.

Errors

    Errors are often found within a consumer's credit reporting data. Consumers may find inaccuracies regarding past employers, dates of employment, previous home addresses and account balances. Some consumers might notice public records such as judgments and tax liens that still appear on credit bureau records after being paid in full. Examine the data contained within your credit report for erroneous information.

Updates

    Updating your credit file helps fulfill your due diligence towards ensuring the accuracy of your reported data. A consumer can file a dispute to contest flawed credit details or personal information that appears on her credit report. Contact the respective credit reporting agencies to dispute errors within your credit profile. An updated credit profile can provide more accurate details for viewers who may check your credit prior to approving financing terms. The credit bureau's website will have an online dispute form you can submit, or you can mail your dispute and information that supports your claim to the respective credit bureau, using the address found on your credit report or the bureau's website.

Review

    Reviewing your credit report and credit score each year may reflect a proactive choice toward knowing your credit status. Visit annualcreditreport.com to review a free copy of your credit report online -- you are entitled to one free copy a year from each of the three major credit bureaus, but you must order the reports through annualcreditreport.com. The website also provides contact information for each of the major credit bureaus. Obtain your credit score online from the individual credit bureaus -- Equifax, TransUnion and Experian. The bureaus charge a fee for credit scores, and fees may vary among credit bureaus.

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