How to Fix Your Credit

If you have reason to believe bogus or inaccurate information appears on your credit report, YOU HAVE THE RIGHT under the Fair Credit Reporting Act to dispute inaccurate information that might harm your credit rating.

1) Get a free copy of your credit report.

    Click Here To Order Your Free Credit Report

2) Identify errors.

Look at your Personal Credit Report closely. Check the accuracy of:

Personal data:	Name, address, Social Security number
Employment:	Current employer and address, previous employer
Public records:	Judgments, liens, and bankruptcy
Account info:	Open date, balance, date of lates

3) Contact Creditors

You should begin the dispute process by contacting any creditors responsible for any inaccuracies on your report. Come to an agreement with the creditor on how the matter has been or can be resolved before you file a dispute with the credit repositories. Get something in writing or get a name and phone number for future reference.

THINK ABOUT THIS: If you dispute the inaccuracy with the repositories first, they are going to contact the creditor who is going to confirm you still owe the money or that the late payment info is accurate.

By the way, once the creditor is made aware of an inaccuracy, they should agree to update the repositories themselves – If the inaccuracies have a significant effect on your credit rating, we suggest following up by filing a dispute with the credit repositories yourself.

4) File a Dispute

Online: We recommend you dispute inaccuracies online directly with the repositories (TransUnion, Experian, and Equifax); it’s the fastest way. You’ll be able to check the status of your dispute investigation online and you will be notified by e-mail when the results of your dispute are ready to be viewed.

By Mail: Otherwise, file a dispute in writing: it’s a good idea to attach a marked up copy of your “Personal Credit Report” and attach copies of documents that support your position.

5) How long does it take?

Soon after you file a dispute, the Credit Repositories will investigate your claim by contacting the creditors by phone or through any number of automated systems. Often the matter is resolved in a few days but the creditor does have up to 30 days to respond. (Remember, if you filed the dispute online you can check on the status online anytime in the process) Once the investigation is concluded, you will be provided an updated report. Getting your credit to reflect accurately will often require more than one try. If your credit still reflects inaccuracies, confirm the information directly with the creditor and go back to step 3. Or call Merrimack Mortgage Company, Inc. at (603) 471-9300 for further assistance.

Have a question about your credit and qualifying for a mortgage in New Hampshire? Call Charley Farley at (603) 471-9300 or e-mail charley@charleyfarleyhomeloans.com.