How to Fix Errors on Your Credit Report

Mortgage lenders give their best rates to customers with the highest credit scores. But what if your credit score is low because of errors on your credit report? The best way to prevent this is to check your report regularly—especially when you’re thinking about buying—and correct any errors.

Here’s how:

• Order your credit report. Since there are two main credit agencies in Canada—Equifax and TransUnion—it’s wise to check with both. You can get a free credit report by mail or in person. Or you can download one immediately for a fee. Visit Equifax.ca or TransUnion.ca for details.
• Examine the report. Circle any items you believe are incorrect.
• Contact the credit agency. There’s often a form on its website which you can use to provide details. Return the form by registered mail along with all necessary documents. It’s also a good idea to contact the creditor whose item is in dispute.
• Request a revised credit report. The credit agency will investigate, contact your creditors to verify information, and revise your report as necessary.
  

Not only can checking your credit report potentially increase your credit score, it can also detect and prevent any attempts to steal your identity. As your mortgage advisor, remember that I’m always here to help with any questions you might have about your credit or your mortgage.

Lisette Amalfi Harris, AMP
Senior Mortgage Consultant/Owner
Mortgage Alliance o/a OAC Mortgages Inc
(905) 529-1199
TF: (877) 529-1199