Rahul Shariff

A good credit score is important if you want to get a loan or credit card. Credit agencies provide different scores to individuals based on past payment history. The payment history could reflect payments that you made on your credit card, collections, mortgage loans and foreclosures. The credit score is usually 300 - 900 and depending on your score, you are classified as low risk or high risk. Lenders use these scores to decide whether you qualify for a loan. The terms and conditions of the loan are decided based on your individual credit score. As credit scores are so important they should be accurate but you may be surprised to know that most credit agencies tend to make mistakes when preparing these important reports. When there is inaccuracy in the report it can affect the ability of the individual to get loans on favorable terms and conditions. Although most of us assume that reports prepared by the credit agencies are accurate there are significant errors in it and thes

The credit report maintained by credit agencies contains personal information, credit history, inquires and public records. The information is gathered on an ongoing basis from various sources and lenders, insurance companies, employers, government agencies and companies that monitor the information for prevention of identity theft can have access to it. As the credit report of an individual is accessed by so many people and agencies, it is important that it is accurate. It is best to check your credit report at regular intervals so that you are able to verify the authenticity of the information available and dispute if you find any errors in it. Tips to dispute errors on credit report If you find outdated or incorrect information on your report that has been prepared by the credit agencies, you need to get it corrected at the earliest as it may affect your chances of getting a loan at favorable terms and conditions. It is advisable to keep a copy or record of everything that