Debunking 14 Myths About Debt Collection Agencies Common Causes of Credit Report Errors

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In some cases, there is no need to be alarmed or believe that something malevolent is at work. Here are some frequent issues caused by human error that result in information from two or more persons being mixed together, resulting in what is appropriately referred to as "mixed files":



1. Someone enters your information erroneously during the data entry procedure by misspelling your name or unintentionally swapping the numbers in your Social Security number.
2. Some lenders may report a financial transaction under your name rather than the extremely similar name of the genuine applicant by mistake.
3. If your name changes or has variants, be sure you're using your legal name consistently and that you tell the three credit bureaus as soon as feasible.
4. Even if you paid your bill to a collection agency, they may still report it incorrectly.
5 .The same debt is stated twice, or the balances are wrong.
Other things on your credit report necessitate additional investigation and follow-up. Two of the more difficult concerns to bring to the credit agencies' attention include identity theft and negative things that are past the statute of limitations, or the time by which they may have been reported. Fortunately, they deal with such matters frequently and have a systematic procedure for resolving disagreements. A copy of your credit report with the disputed item marked, along with supporting evidence proving or explaining why that item should be erased from your credit report, is the usually recognized procedure. You can "prevent those charges from appearing on your credit report" if you are the victim of identity theft, according to the Federal Trade Commission. Begin by visiting IdentityTheft.gov, a Federal Trade Commission website that will provide you with a personal rehabilitation plan that will lead you through each step. It will give you an Identity Theft Report that you can only use for debts resulting from identity theft.Save yourself from all these hassles and Contact Hmbr arc rec for your Credit Management and coverage of your debt collection today.


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