Your credit report may have errors without you even realizing it. Your black marks can be because of a non-payment of a bill that you never got in the first place. Whatever the cause, a bad credit report can make it difficult for you to apply for a loan for a purchase. It can even reduce your chances of finding employment.
If for some reason you have a negative error, the best option for is to get it fixed. This can be done by paying overdue bills, if any. Consider a situation that may arise when you move out of an apartment and a service provider company such as the electric company didn't send you the electricity bill for your last month's stay. You may not be at fault, but the end result is that you have a negative error in your report.
Under the Fair Credit Reporting Act, it is the responsibility of the consumer, the reporting company, and the information provider companies to fix the inaccuracies. The procedure for this is simple. You need to inform the consumer reporting company in writing, the information that you feel is inaccurate. These companies will then investigate your information and submit a report of the same, usually within thirty days. For this, they send notices to the information provider companies who then investigate and review the information. If they find the information is actually inaccurate, they will have to report the same to the consumer reporting companies, who in turn, will fix the errors in your report.
Apart from fixing the error, these companies will give you the result in, and also a free copy of, your credit report. Also, remember that when you dispute an error in your report, you must also send a copy of the notice sent to the CRAs as well as to the information provider company.