credit bureau

Alternative term for credit reporting agency.

Often when you peruse your credit report you'll find an error. Perhaps you've paid off a particular loan that isn't reflected on the report, or there are legitimate reasons why a particular debt hasn't been satisfied, such as a temporary disability. In these instances your first recourse should be to contact the credit agency and request they make the appropriate changes. Fibbers beware: you will probably have to provide some documentation. Few people realize this, but credit reports typically have a space for you to provide your comments at the bottom. This section is another area of recourse that can be used. It lets you comment on why a particular debt hasn't been paid or to point out any factual errors. To do this, the individual must contact the credit bureau directly and again may have to provide some documentation to support the claims. To be clear, adding comments to the credit report won't necessarily boost your credit score. However, some lenders may take your comments into account when deciding whether to grant you a loan. This little-known space can be invaluable if you are fighting an incorrect rating.

• Work Out a Plan with Lenders to Achieve a Better Credit Score
• Repairing Credit by Paying More Than the Minimum Amount Due
• Cutting Up Store Cards May Result in a Better Credit Score