When most people think about annual checkups, a visit to the doctor comes
to mind. Annual checkups are an important part of maintaining your physical
health. However, many Americans are unaware that their credit reports
can also benefit from an annual checkup. Just as yearly physicals can
help catch problems early, so too can a yearly review of your credit report.
Although yearly credit checks are highly important, many consumers do not
conduct them. A 2015
National Foundation of Credit Counseling (NFCC) study has shown that 2 out of 3 adults have not accessed their credit reports.
This number is as alarming as it is dangerous. Negative and inaccurate
credit reporting can have a significant impact on your financial health.
Unlike a yearly physical, an annual credit check is free. Free access to
your credit reports from TransUnion, Experian, and Equifax is available
once every 12 months.
AnnualCreditReport.com, among others, provides this service.
However, pulling your credit reports is not enough. Once you have your
reports, you need to spend time reviewing them for inaccurate entries.
Once you have identified errors in your credit report, it is important
to submit any disputes to the credit reporting agencies. In addition to
clearing up false credit reporting, an annual review of your report will
help you make timely disputes and may also prevent identity theft.
Catching a credit reporting issue early can save your time, money, and
financial health. There are solutions available to remedy credit errors;
the sooner you act, the faster you will be able to take the necessary
steps to correct your credit reports. Although an apple a day never kept
the doctor away, three reports a year can prevent lots of tears.
For more information on how to manage your credit, please contact a Chicago
concumer lawyer from Sulaiman Law Group, LTD by calling (312) 313-1613.