7 hours Ago By NDTV Profit News
Your credit report is more than just a bunch of numbers—it’s a snapshot of your financial reputation. Whether you’re applying for a loan or credit card, lenders rely on your credit report to decide if you’re a trustworthy borrower. A strong credit history can give you lower interest rates and better financial opportunities, while errors or missed payments can hold you back.
But what if your credit report has errors? It happens more often than you’d think. Maybe a lender mistakenly marked a payment as late, or an old loan that you have cleared is still showing up as unpaid. These errors can drag down your credit score and impact you in the long run.
The good news is that fixing inaccuracies in your credit report is possible and easier than you might think.Let’s find out how to check your credit report, spot mistakes, and take the right steps to correct them.Government Seeks Rs 7,000 Crore For Unified Pension Scheme—All About UPSHow to fix errors in your credit reportReview your credit report: Obtain your credit report from a credit bureau and carefully check all details.
These include personal information, account balances, late payments that were not made by you, or loans that should be marked as closed but are still listed as open. Make a note of whatever error you identify.Contact the credit bureau: Once you have identified errors, you need to take them up with the credit bureau.
You can contact them through their website, email, or phone. Some bureaus also provide mobile applications where you can raise a dispute.Submit the required documents and dispute form: You will need to complete a dispute form detailing the errors in your credit report.
To support your claim, provide relevant documents such as bank statements and payment receipts.Follow up: Credit bureaus usually take up to 30 days to investigate and resolve disputes. But it may take one to two billing cycles for the corrections to reflect in your credit report.
Escalate the dispute if necessary: If the credit bureau does not resolve your dispute satisfactorily, you can raise it again or seek advice from a lawyer or financial advisor on the next steps to take.Managing Money: 10 Rules To Follow To Ensure You Never Fall Short Of Cash. Read more on Personal Finance by NDTV Profit.
.
