Tech to-do: Get your free credit report and look for these mistakes
The other night, I was out to dinner with a friend who works in medical billing. She shared a story that really stuck with me.
One of her coworkers forgot to include a patient’s disability status on a billing report. That disability status covered her medical treatments. When the bills came due, the patient didn’t pay — why would she? The medical office sent thousands of dollars to collections, and it tanked her credit.
Mistakes like these are a lot more common than we think, and they can do some serious damage. I’ll let you in on some of the most common credit report mistakes and what you can do to fix them.
Step 1: Get your free credit report
The three credit reporting agencies (TransUnion, Experian and Equifax) are required by law to provide you with one free credit report a year. Sweet. There are a few ways you can request a copy from each agency.
Online is the fastest route. If you submit a request via phone or mail, expect to wait two weeks after the paperwork is received.
- Online: www.AnnualCreditReport.com
- Phone: 877-FACTACT (877-322-8228)
- Mail: Download and complete the Annual Credit Report Request Form. Send it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281
Pro tip: Grab your report from the fourth credit bureau, Innovis, too.
Step 2: Look for the most common mistakes
Typos or wrong info: Anything from your name spelled incorrectly to your address or your birth date off by one number. Tiny mistakes can mix up your credit with someone else’s.
Accounts you don’t recognize: If you see something you don’t recognize, don’t ignore it! This includes credit cards you never applied for, loans in your name or purchases you didn’t make.
Duplicates: It’s not normal to see a debt twice on a credit report. This includes things like the same collection account, transferred debts showing as separate accounts or paid-off debts still sitting there.
Incorrect account info: Sometimes, payments mistakenly can show up as late, or closed accounts may still show as active. Other times, reports may show the wrong credit limit or mess up your payment history.
Outdated info: Bankruptcies older than 10 years, late payments older than seven years and outdated collections accounts should not be showing on your credit report.
Step 3: Report anything strange
Don’t panic! Write down and make copies of anything that looks off. Then, file a dispute with the credit reporting company by mail, phone or online.
If you’re filing online or by mail, explain in writing exactly what’s wrong and why, and include copies of documents with proof. Make sure to include your contact info, credit report confirmation numbers and a copy of your version of your credit report.
- Equifax: Here online or call 866-349-5191
- Experian: Here online or call 800-397-3742
- TransUnion: Here online or call 800-916-8800
- Innovis: Here online or call 800-540-2505
And always follow up! Bureaus are required to look into your disputes within 30 days. Track its progress until you have a resolution in writing. If your dispute is valid, the bureau has to fix it and tell the other bureaus as well.
A lot of these issues boil down to good old-fashioned human error. It happens! But don’t let that stop you from taking charge.
👮🏻♂️ This was a heavy topic. I get it. So, speaking of credit … Sherlock Holmes was always reluctant to take credit for solving a mystery. “Oh, it was nothing,” he’d say. “The police would have solved it in time.” Everyone knew he was just being modest. Be he ever so humble, there’s no police like Holmes. (You are so going to tell this one to your family and friends!)
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