Creepin’ Credit Errors

Here's what you can do when mistakes sneak up on you

joint accounts into the name of the responsible person. Try to close as many accounts as possible if the creditors are not willing to place the account in your spouse’s name. If your accounts have balances that you can’t pay off, consider getting an individual consolidation loan to pay off the balances in full and close the accounts. If you can’t pay off the balances immediately, you can close the accounts to future charges, so additional debt is not incurred.

“Having errors appear on your credit report can happen to anyone no matter how diligent you are,” says Berry. “Just make sure that you keep up with your accounts to ensure that you are not delinquent because [creditors] are not obligated to call and
tell you what will appear on your credit report.” 

KEEP ON TOP OF YOUR CREDIT
“I think that consumers need to be really educated about their credit reports and should question their lenders when they are told about low credit ratings,” says Sylathia. “I now know that we should check our credit report once a year. It is important to take action immediately and not wait around as we did. We were turned down before applying for the home and never knew or asked why.”

CREDIT REPORTING AGENCIES
Experian (formerly TRW), P.O. Box 2104, Allen, TX 75013-2104, 888-EXPERIAN; www.experian.com
Equifax, P.O. Box 105873, Atlanta, GA 30348, 800-997-2493, www.equifax.com
TransUnion, P.O. Box 1000, Chester, PA 19022, 800-888-4213; www.tuc.com

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