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Raise Your Credit Score
Did you know that the credit file on YOU that is maintained by the "big 3" credit bureaus (Experian, Equifax, TransUnion) very likely has inaccurate information? Most people are not aware of this FACT, and have even less of an idea what they can about it.
Federal laws exist that require the credit bureaus to maintain accurate information about you. Having wrong or inaccurate information on file for you can have a severely negative impact on your life, including your chances of being qualified for a mortgage at decent rate, getting a car loan, and even getting a good job. But it is YOUR responsibility to know what the credit bureaus have on file about you, and to let them know that wrong information needs to be changed.
If a creditor has reported wrong informaton to the credit bureaus, they have a legal obligation to correct it. But they will not do so if you do not insist on it. It can be a painstaking process, but it is something that you need to do and keep on top of it regularly. A creditor must prove inaccurate information, and if they cannot, the credit bureaus are obligated to remove the negative information.
The reverse is also true. Say you have some credit cards where you have an excellent reputation, always paying your bill on time, never being late, and never going over your credit limit. Is this NOT being reported to the credit bureaus? It is to your advantage that it IS reported, and you can get that good report added to your overall credit report.
Ensuring that the credit bureaus have accurate information about you is critical to just about any financial transaction that you will do in your life. But contrary to popular belief, it does NOT happen automatically, and it is your responsibility to keep track of making sure that information is right. Read through the tips here and learn what you can and SHOULD do on a regular basis to keep your credit score as high as it should be.
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