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304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
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Ensuring the accuracy of your credit report is crucial for maintaining a healthy financial profile. In this comprehensive guide, we’ll walk you through the steps to check, review, and dispute your credit report. For any mortgage service needs, contact O1ne Mortgage at 213-732-3074.
Checking your credit report is the first step in maintaining your financial health. You can obtain your credit reports from the three major credit bureaus—Experian, TransUnion, and Equifax—for free. Here’s how:
When reviewing your credit report, it’s essential to scrutinize each section for inaccuracies or outdated information. Here’s what to look for:
Check for incorrect details related to your name, aliases, addresses, phone numbers, and employers. Variations in your Social Security number may appear due to typos.
Hard inquiries appear when you apply for new credit. If you see inquiries from unfamiliar organizations, it could be a sign of identity theft.
Review your open credit accounts, including credit cards, loans, and lines of credit. Ensure the balance, credit limit, payment history, and other details are accurate.
Closed accounts can impact your credit score for up to 10 years if they were in good standing. Delinquent accounts are removed seven years after the first late payment.
Accounts sold to collection agencies appear as separate entries. Unpaid collections are removed seven years after the account first went delinquent.
Bankruptcy filings can stay on your report for up to 10 years for Chapter 7 and seven years for Chapter 13.
If you find inaccuracies, you have the right to dispute them. Here’s how to do it:
You can dispute by mail, phone, or online. It might be more efficient to dispute directly with the data furnisher (e.g., credit card issuers, lenders) as they can update all bureaus they report to.
Experian will contact the data furnisher to verify your dispute. The process is usually completed within 30 days, and you’ll receive updates throughout.
Regularly reviewing your credit reports is essential, but setting up credit monitoring can make it easier to spot issues. Experian offers free credit report monitoring that sends alerts for significant changes, allowing you to submit and track disputes easily.
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