How many times have you met someone and they say you look like someone they know? Or that you remind them of someone else? There are many cases of mistaken identity but none worse than when it affects your credit rating and sends it spiraling downward, especially when it’s not just mistaken but TAKEN.
In today’s digital world, this can happen in a split second and can take forever to fix. In the medical field it is called preventive medicine and in the credit field, I call it the FES Protection Plan because it incorporates monitoring systems and partners like LIfeLock who detects and helps to fix identity theft problems.
Many say it isn’t a matter of “if” but “when”. I’m of the belief that an ounce of prevention will harvest the peace of mind for many sleep filled nights!
In light of all that, here is some helpful tips.
How Mistakes Occur In Your Credit File
Ever wonder why your credit report has inaccurate information?
Credit reports often contain errors due to one of the following reasons:
- Loans or credit card information is applied to the wrong account. This is a frequent occurrence with fathers and sons if a “Senior” or “Junior” is omitted when filling out an application.
- You may have unknowingly caused an error by filling out credit applications with different names. Here are two examples of frequent occurrences:
- You may fill out a department store credit application as Bill Smith and a mortgage application as William R. Smith.
- An applicant may apply for credit as Margaret Jones, Peggy Jones, or Margaret Conrad-Jones.
- You entered your social security number incorrectly on the application.
- A clerical error was made when the lender transferred the data from the application.
- Payment data is applied to the wrong account by the credit bureau.
What can I do?
Be proactive! You are best served to be in the know. If you are familiar with your credit report and everything is great with it right now, be sure to check it for free every year at www.annualcreditreport.com. If you haven’t reviewed your credit report in several years, be sure to go to that website and pull it as you are allowed to do so annually for free.
Implementing a monitoring system that alerts you immediately upon suspicious activity is a necessity as is maintaining a service that will fight on your behalf when erroneous items or identity theft makes you their victim.
You can purchase these items ala carte or you can get a complete program for an affordable option.
- Pull your free report at www.annualcreditreport.com and review its contents.
- Watch the first 2 short videos at www.ProtectionThatPays.com to see what is included in the FES Protection Plan.
- List all questionable items on your report.
- Contact me to schedule your complimentary 30 minute Credit Coaching Session. ($97 value)
I highly recommend you check out all our services in our “FES Protection Plan” membership. There is no cancellation fee. Go to www.CreditGalKim.com and select “Products” and then select “Protection Plan” to view all that is available to you.
As always, if you have errors on your credit reports or items that do not belong to you and you are not having success getting them removed, contact me for help.
For questions or additional resources, please contact me at Info@CreditGal.CO