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Your credit report defines your financial existence. The three digit score can keep you and can devastate you as well. There is no need of unnecessary panic. This was just to start a conversation by raising an alarm.

Here goes the five guidelines:

1) Check your credit report

Annual Credit Report [dot] com provides you with free credit reports from all the three bureaus Equifax, Experian, TransUnion. Order it for free once in a year or you can call 1-877-322-8228 for ordering free report. Read the report thoroughly and check all the items both relevant and irrelevant. This enables to find out any probable inaccuracy.

2) Dispute incorrect items:

The first point of contact should be the credit bureaus for any mistaken item in your file. Rather than disputing online send a certified mail with your complete name and address. Write meticulously regarding each item that you dispute and the reason. Request for early correction of the items. Usually it gets done within a month.

To know the other guidelines go ahead

3) Maintain the accounts:

The best way to keep your file clean is by maintaining the accounts accurately.
• Pay on time
• No defaults
• Make at least the minimum payments if not the whole
• Keep track of any communication (best way is by communicating via certified mail)

4) Contact creditor in case of disputes:

Any problem that arises with an account, make sure you contact the creditor personally to inform what steps you have taken. In case of a dispute send him a copy of the letter that you write to the credit bureau. This is required because they have to provide a notice of the dispute every time they report to the bureau.

5) Stay alert of Frauds:

It is not uncommon at all. By crook your personal information might get stolen. So check your credit report with meticulous precision. If you observe anything unusual that might be an identity fraud. File a fraud alert with all the three bureaus and a complaint with the FTC.

P.S. Equifax (1-800-525-6285),
Experian (1-888-397-3742),
TransUnion (1-800-680-7289).
Federal Trade Commission (FTC) online or call 1-877-438-4338