5 Kinds of Credit Report Errors That Can Affect Your Score

Credit restorations and repairs are something that everyone has heard of. Most of us have to fix our report card because of various kinds of mistakes. And if you neglect it for a long period of time, you might have to face serious consequences. Hence, you should take charge immediately and contact a reputed team for fixing your score.

I have been associated with one of the best credit repair companies in Houston and have seen people facing major consequences for having poor scores. Hundreds of people visit our office on a daily basis for rectifying various kinds of errors on their report card. I have enlisted the most common ones. Take a look.

Personal information: Incomplete or faulty errors in this section of the report card are very common. The section has the basic information of an individual like

  • Name
  • Birthday
  • Address
  • Social Security Number (SSN)
  • Status as an “authorized user” on an account

Any mistake in this section can lead to a cause of identification theft. This is extremely easy to correct and any good company would be able to do this within a short span of time.

Accounts: This segment has information related to your credit history. You will see two kinds of accounts in this section of the report card – open and closed. Multiple kinds of errors are seen in this section like as follows:

  • Incorrect payment histories.
  • Erroneous late payments.
  • Incorrect bankruptcy information.
  • Incorrect drop-off dates mentioned.
  • Wrong time period mentioned. For example, a person has been late for making a payment by 30 days but it is shown that he has been late for more than 90 days. This falls in the “severe delinquency” section in the card which can have a huge negative impact on your overall credit.
  • Faulty accounts (that do not belong to you) mentioned in the credit report card.

If you see any kind of errors like this, immediately contact a reputed company that provides bad credit repair services.

Incorrect credit limitations: Your credit limitation might seem like just a number, but it can create a major impact on your credit score. There have been many instances, where an individual is denied of loans or other kinds of services because of this mistake. You shouldn't delay in fixing bad credit as this can get you into trouble in emergency situations as well. So, you should start looking for a company that can effectively fix bad credit.

Duplicate or missing reports: Another common mistake is duplicate or missing reports. For example, if a loan is recorded twice, it is known as duplicate reporting. It can damage your score a lot. Missing reports are equally detrimental. So, do not neglect and find reputed companies that fix credit, Houston.

Identity thefts: Many do not realize that their identification has been stolen until they face major consequences. Review your reports from time to time in order to find such mistakes.

So, these are five major kinds of credit report mistakes. Fix bad credit immediately in order to stay away from obstacles in your professional as well as personal life.