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Credit Tip: Check Your Credit Report
When you apply for credit, the lender checks with a credit bureau to
learn about your credit history. The credit bureau gives the lender a
report about your bill payment history, current unpaid bills, available
credit, property liens, lawsuits, and other related information.
Credit bureaus try to give accurate information but they can make mistakes.
When you’re having trouble getting credit, the first thing you should
do is check the accuracy of your credit report.
A Credit Report Contains
• Identifying information
• Current employment information
• Credit history
• Public record information
The Fair Credit Reporting Act enables you to dispute any inaccurate information
on a report. The credit bureau legally has 30 days to investigate and correct
the information. The credit bureau can’t remove negative information
if it’s correct. Generally, negative information stays on a credit
report for seven years. Bankruptcy information stays on a report for ten
years.
Credit Bureaus
Equifax Information Service Center
1-800-685-1111
Trans Union Corporation
1-800-888-4213
Experian (formerly TRW)
1-800-682-7654
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