The sooner you respond to an error on the credit report, the better. The longer the error sits on your credit report, the harder it can be to untangle.
It is very important to determine if there is actually an error on the credit report. Only inaccurate information should be fixed. If you have had a late payment or missed a payment, it will not be wiped from the record if the information is accurate.
There are credit-repair firms that, for a fee, say they will help consumers with these issues. Be careful. Under the federal Credit Repair Organizations Act, credit-repair companies cannot make untrue or even misleading statements or demand payment from the consumer in advance. In addition, they must provide a written contract that includes certain details about the job they will perform as well as the consumer’s right to cancel.
Check out the Consumer Financial Protection Bureau’s enforcement action database at consumerfinance.gov/
Make sure to AVOID a credit-repair company that guarantees to increase your credit score, promises to remove negative information even though it’s accurate, or encourages you to make false claims.