00:00Once a year you're entitled to something free. No, it's not a birthday Slurpee.
00:05It's being able to check your credit report from one or all of the three
00:09credit reporting agencies. Here are three common errors you should look out for.
00:17Coin it. Life well spent. Presented by GEICO. According to a study by the
00:22Federal Trade Commission, one in ten found credit report errors on a person's
00:26report affects their credit score. Notice a few accounts on your report you never
00:30opened? You may be a victim of identity theft. There's also a possibility the
00:34bureau or lender has confused you with someone of the same name. If you had a
00:38few late payments years ago because you needed those Gucci slides, double check
00:43the bad report isn't listed past the date it's supposed to be removed. Negative
00:47information like collection notices should be removed from your report after
00:51seven years. Bankruptcies take ten years to age off your credit report. Also, double
00:56check any billing issues. Make sure they've been resolved and aren't
00:59lingering like the cranberry song. Simple errors like your name being misspelled
01:03can't seem minor but it does make an impact. If you found a mistake, take the
01:08necessary steps to fix the problem. You'll need to write to the credit
01:11reporting company and your credit information provider about these errors.
01:15Include copies of inaccurate information and clearly state which items
01:19you dispute. You should hear back about your claim within 30 days. Those yearly
01:23credit checks will be less of a dreaded task when you know what to look for.
01:28Coinage. Life. Well spent. Presented by GEICO.
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