What exactly is in your credit report? It generally contains four types of information:

  • Identifying information:

    • Your name
    • Your current and previous addresses
    • Your Social Security number
    • Your year of birth
    • Your current and previous employers
    • If you're married, your spouse's name

  • Good and bad credit information, which includes credit accounts or loans you have with:

    • Banks
    • Retailers
    • Credit card issuers
    • Mortgage lenders
    • Other lenders

  • Public record information such as any information that's contained in state and county court records, like:

    • Bankruptcies
    • Tax liens
    • Monetary judgments

  • Your credit report will also show that you have applied for new credit that could result in additional debt. This is why you should limit the number of credit inquiries made on you. A lender will view multiple recent inquiries as a sign that you are overextending yourself.

Once you get your report, read it carefully! If there are any problems or inaccuracies, contact the credit bureau right away. Do this in writing. Also, if the same problem is reported by more than one credit bureau you need to contact each one.

If a bad credit incident is reported inaccurately get it removed. This is very important.

To dispute inaccurate information on your Experian, Trans Union or Equifax credit report write to the bureau that supplied the information. In your letter be sure to include:

  • Your full name, first, middle and last and include any applicable suffixes (Jr., Sr., II, etc.)
  • Your complete mailing address
  • Your date of birth
  • Your Social Security number (this is necessary to access your credit report)
  • The name and account number of the creditor and item in question
  • The specific reason for your disagreement with the disputed item
  • Request an updated credit report
  • Your signature