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  Category: Articles » Finance » Loans » Article

Fix your credit report to get a loan

By Mark Lambie

We're not on this planet for very long, so while we're here, we might as
well enjoy it. So you should buy things. Sure, you're smart enough to not
run out and buy whatever catches your eye, but you want to have nice
things. You deserve them.

Want to own a car or a house? You'll need a loan, and to get a loan you
have to get your credit checked. One thing that you will be surprised about
is how many credit reports out there have big mistakes on them. Does

If you are not sure, you need to find out right away. You need to get a copy
of your credit report every 12 months and check it thoroughly. Why?
Because mistakes can happen, and they do happen all the time.

Why do mistakes happen all the time? The answer is actually fairly simple.
Often it's just a matter of human error. Perhaps they accidentally mistyped
a piece of information somewhere in your past or perhaps they mistyped
someone else's information but accidentally put it on your file. It happens a

So what can you do about it? Again, the answer is simple. You need to get
a copy of your credit report and go over it with a fine toothed comb. Identify
the parts that are accurate and the parts that are inaccurate.

When you find inaccurate information you need to highlight it clearly. Then
you need to find supporting documents and information to prove the
inaccuracy. For example, if your credit report shows that you have been
renting since you moved out of your parents' house but you actually
bought your own house a few years ago, you may want to provide them
with some of your mortgage papers and particulars to prove what is

Then write a polite letter of explanation that clearly details the points you
want to clarify and send it off to the credit bureau. When they receive your
request, they need to investigate each claim before they fix it. This is
because they get many people who file bogus claims of inaccuracy all the

It can take a while to get everything squared away, but when you do it, you
can enjoy the peace of mind that should you need a loan, you'll have an
accurate credit report to work from and to back you up. And, with an
accurate credit report, you'll be able to quickly identify any identity theft
problems that may occur.

So don't lose sleep over your credit rating. Instead, contact your credit
bureau and get a copy and check for inaccuracies.

About the Author
Mark Lambie is the founder of Loan Source, a website for UK residents seeking secured loans. Visit our website today for a free Secured Loans quote and find out how much we can save you.

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