Check Out These Common Mistakes On Your Credit Report

One of the reasons it's important to monitor your credit score is to check for errors. They can be as simple as a wrong address or as costly as having someone else's debt listed on your report. It happens more often than you think. Continue reading for our list of common mistakes on your credit report.

Wrong Personal Information

- Whether it's an incorrect phone number, or a past employer listed as current, this type of identifying information can commonly be incorrect. It might seem like no big deal, but it can become a serious problem when you try to verify your identity. Not that you don't know the right answer, but because the credit bureau has the wrong information stored. This is definitely something you want to get fixed as soon as possible.

Accounts That Aren't Yours

- Shared names are very common and the credit bureaus can confuse people. This can lead to a credit report riddled with someone else's information instead of your own. Even if the account in question is in excellent standing, you want to get that off your report as soon as possible to avoid any future headaches.

Inaccurate Payment Statuses

- Credit bureaus aren't always privy to the latest, most accurate information and sometimes need your help identifying it from time to time. If you've worked hard to successfully eliminate a debt in the past, but it's still showing up on your report, this could be why.

Identify Theft

- This is obviously a huge concern and something that would need to be cleared up as soon as possible! Failure to report identity theft could result in more and more instances of further victimization. Checking your report is the best way to catch any suspicious activity as soon as possible.

These are all problems that could be lurking on your credit report right now. If they're there, you'll want to fix them as soon as possible. This is why it's so important to regularly monitor your credit report and understand what your credit score means.

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Have you ever had to correct errors on your credit report? Did you get the problems resolved? Let us know about it in the comments!