Most Tennessee residents are aware of the importance of developing and maintaining a positive credit score. This all-important number factors into virtually every lending decision, from securing a new auto loan to opening a new line of credit at a hardware store. For those in Tennessee who struggle with debt management, the impact that those struggles can have on credit scoring is often a concern. Fortunately, there are a number of steps that consumers can take to ensure that their credit scores shows an accurate picture of their financial history.
Consumers have the right to obtain copies of their credit reports held at all three credit bureaus. With those reports in hand, the next step should involve carefully checking each line of the report for accuracy. Note any discrepancies, and create a plan of attack for correcting errors or inaccurate information.
If errors are noted, there are procedures in place to guide the dispute process. While it may seem onerous at first, taking the time to dispute inaccurate information on a credit report is well worth the time and effort. Each credit bureau has a procedure for disputing information contained in consumer reports.
Once errors have been addressed, it is not uncommon to see a swift rise in credit scores. For Tennessee consumers trying to navigate debt management efforts while also maintaining a solid credit score, understanding the dispute process should be a top priority. At the end of the day, every financial tool that can be leveraged to one’s advantage should be considered, including carefully assessing the accuracy of credit reports.
Source: fool.com, “How to File a Dispute With the Credit Bureaus“, Adam Levy, Oct. 12, 2017