Having a credit report is almost a double-edged sword. Some people prefer not to obtain a credit report from local governments, mainly due to phobia. Finding the need for performing credit repair is obligatory. Your personalized report shall be the root of determining a credit score as well as financially helping you in securing a mortgage, loan, auto, or an interview.


Here is a comprehensive suite of do’s and don’ts of a credit report:


Do’s of a credit report

You’ve to be clear on the reasons behind fixing your credit report. A condition that needs a check on credit is, but not limited to, obtain a mortgage, apply for a new credit card, avoid a bankruptcy charge, dispute on an item, predict your credit score, or locate an unwanted object – improve individual credit rating. Here are five dos of a credit report to do:


1. Unlimited revision: How to check a credit report? Firstly, you’ve to familiarize with the flow of monitoring a report card. Do not rush to file multiple disputes but penned down discrepancy(ies) that needed immediate attention. One revision is clearly insufficient to pass a credit review. It’s advisable by Credit Union (2015) to perform a detailed check in a credit report card at least twice, best practice is thrice monthly or more.


Management of unlimited revision will consume much time & effort. If you’re working till late evening to improve job employability, an alternative is to seek financial assistance from either a relative, friend, or a credit repair consultant. The individual will help to check through listed object(s) for a credit dispute. He/She too may identify potential discrepancy. missed payment, or alert you on identity theft fraud.

Editor: As an editor in reviewing your personal credit report, to the best ability, you’ve to include: credit score check · clean-up unpaid debt · identify error · credit bureau mistake & many more. Do implement a fixated frame work for others (family member, friend, or agency) to observe when you request a credit report check from them.


2. Resolve dispute internally: A credit report dispute is recommended. In a research study by Experian [2009] credit bureau, the agency found that approximately 85% credit reports being filed, had errors & mistakes in one way or another – error not a threat but unattended mistakes impacted personal credit score. Creditors often filed claims in bulk and might missed timely updates. Do search for common credit error, discrepancy or mistake on your own – calling up a local credit repair business specialist for inquiries.


Management of dispute resolution internally is difficult under certain circumstances. At times, a claimant might not be responsive or willing to address your query. In this case, you’ve the rights to pursue a charge back by hiring a credit bureau; Experian, Transunion, or Equifax in handling your dispute case. The appointed agent shall investigate by examining your credit bureau report before acting as an ombudsman to the respective creditor.

Intermediary: Conflict resolution is a skill that not many people have. You’ve to invest resources in managing dispute filing while maintaining a stand in positive disputes. It’s imperative to be honest when a claim is valid but do not deliberately reveal as efforts might be wasted on other intertwined credit disputes.


3. Fix one error or discrepancy: In a credit fix case study conducted by Experian [2010], KIG Hall [2013] ran an analytical model and revealed a revelation: every debtor in the U.S., U.K. and Canada purchase a credit report and start fixing any issue being addressed. It’s perilous to gather errors in its entirety and blow-up simple problems. In doing so, you might receive a backlash or a myriad of creditors issuing lawyer letters directly.


Management of credit repair needs patience. Getting impatient and driving up boatloads of errors is not going to resolve disputes under 24 hours. The worst part is unintentionally stepping into domestic bureau’s radar for a complete credit review. Exercise financial prudence in maintaining composure, applying for legit dispute for creditor’s perusal and receiving timely response – one issue at a time.

Plumber: If there is an urgent need to solve a debt payment issue, it’s advisable to contact a credit repair company for legal remedy instead of sending legal letters to creditor. The agent can mitigate response time by utilizing layers of connection to temporarily relief credit needs while managing inquiries from both parties – a win-in orientation for you and counterparty.


4. Review & monitor your credit report: The public has shown incompetency in credit report monitoring. Do observe your credit history in full, any missed payment, borrowing record, dispute filing, identity theft, credit card fraud, or nitty-gritty personal information – never exposed irrelevant details to your enquirer. It’s necessary to contact any of the 3 credit bureau and get a credit report up to three times annually per agency.


Management of credit report scorecard requires a great deal of time. If you invest time in repairing bad objects, factors affecting your fico score, you’ll learn the art of challenging logical assumption when certain dispute arise between debtor and creditor. This is a peculiar skill in removal of tax lien especially. Such complexity needed debtor’s intervention in understanding the direction of investment of asset mix while finding remedies in lowering income tax bracket.

Reviewer: Anyone can be a reviewer of your credit report. When you or another party decided to implement a change in your report card, notably at your end, it’s obligatory to receive complete information on the change made as adopting good practices may improve your credit score – not guaranteed by anyone, however.


5. Improve your credit file: A common cause of getting rejected by financial institution is incorrect personal information, lack of payment history, not paying bill on time, or insufficient evidence on last drawn salary. The problem can be avoided unless it’s a critical one such as being unemployed for many years, undischarged bankrupt, or bad borrowing records. Why not fix your credit report in an amicable manner?


Management of credit file improvement is challenging. If you’re employing a highly effective credit repair restoration clean-up, chances of facing the above problems tend to surface. In order to improve your credit file, the right way of course, financial planning in; removing bad object, seeking creditor’s claim to be deleted, recalling of unpaid dispute, or assuming financial assistance from credit union, is needed.

File: An individual credit file is personal. All information remains confidential and you’re responsible for any mishap. Do the needful, appointing of credit repair agent, calling credit bureau for assistance, locating a nearby physical business, negotiating for positive credit dispute to be removed, or any other detrimental subject, would be highly appreciated.


Good to know the dos of a credit report

Analysis of the do’s of a credit report is necessary. It helps to remove any complication that serves during the period of a credit repair plan. Some of the common to-know items are:

  • Fixing of credit report does not guarantee increase in credit score albeit being of similar relevance
  • No one can promise your success in recovering your personal credit report; tax lien removal, bad object removal, dispute resolution, or any item in the system
  • Without proper communication channel, black & white agreement, nothing is fixed and subjected to change anytime
  • Payment of credit fix must be done after fulfillment of contractual agreement, not the other way around – cash advance payment might be possible (in percentage)
  • When engaging an agent or relative for credit review, remember to go-through together with them – deterrence of identity theft & learn together
  • Always file a backup copy just in case of sudden loss of personal information


Don’ts of a credit report

A credit report is arguably the most important aspect in the credit repair spectrum. If you do not possess an “attractive” report card, chance of being rejected, shunned, or even blacklisted by a credit card company or financial institution is possible. Here are five dons of a credit report for you to follow through:


1. Engage fraudulent claims on credit report: Before committing a criminal offense, you’ve to consider an irreversible consequence, warning letter from financial institution especially a local bank, blacklist by a credit card company, loss of reputational asset [Longvine et al., 2002], issuance of lawyer letter to you, freeze in credit report score, jail for identity theft fraud, or all the above. The harsh penalties above should be of great concern, hence do not engage in fraudulent claim at any point of time.


Management of temptation in committing credit report fraud is high. When your unpaid debts such as housing mortgage, auto loan, credit card debt, utility & gas bill, insurance premium or outstanding personal loan, are growing at an alarming rate, accompanied by growth in federal’s prime lending rate (interest rate observance), you’ll be tempted to commit fraudulent activities like credit card fraud or identity theft – doable at an initial small sum.

Fraudster: Avoid committing fraudulent attempts on your credit report. An identity theft fraud case will land you behind bars. There is no benefit in fixing bad credit the wrong way, not to mention implied negative stains on your credit report. Instead, adhere to the aforementioned five do’s of a credit report – repairing your report card in a legitimate manner.


2. Sending letter of dispute to a law firm: What is the legal repercussion of a credit dispute? If you’re unsure on how to answer the question, avoid sending multiple letters of dispute to your claimant’s mailbox. A lawyer letter, drafted by accredited law company, is an official statement which “forced” the correspondent to revert, in a not-so-good manner of course. The other party might initial a tripartite setting and perform rebuttals on certain positive credit information – backfiring your legal claim on personal asset protection.


Management of dispute letters to a creditor is not feasible. If you’ve a long-term lending history in a bank, credit card corporation, credit union, or savings & loans association, issuing of a credit dispute is recommended but not a drafted lawyer letter of dispute for credit protection. The corresponding bank, working with in-house credit report compliance and legal department, shall take preventive measures in deterring loss of reputational assets – dishing out equally provocative bank’s agreements to your mailbox, win-lose orientation.

Judge: Never attempt to oust an organization without considering legal repercussions. The counterparty has issued corporate rights to claim on your personal assets (with proper evidence documenting missed payment or bankruptcy filing charge). A good way to resolve conflict is to hire a good credit repair company, in prestige and in professionalism.


3. Entrust 100% of faith into hands of credit repair agency: If you’ve decided to engage a good credit repair company in managing credit disputes, addressing the second topic above, don’t commit 100% of your credit report into the hands of appointed agency. The rationale behind finding an external source is to financially help in identifying the reporting discrepancies, but you’re ultimately responsible on your creditor’s claims (not the credit repair agencies or government bureaus).


Management of credit repair company’s trust is based on qualitative factors. Firstly, the chosen (best) credit repair agency needs to prove on its claims, past successful credit fixes, region-wide credit clean-up campaigns, liaising with multiple vendors, proving broad spectrum of connections, strong communication skills, or other convincing factors. Failure to prove a salt’s worth may result to (even more) legal repercussions or implications near future.

Faith: A goodwill on credit repair company’s side to check with the credit bureaus for your existing profile is an example of professionalism. You’ve to adopt a proactive stance in seeking the agency’s portfolio or furnishing the right credit information for a dispute – let the agent do the legwork while you monitor the entire process of item(s) removal.


4. Sell personal information on credit report: What happens if you sell your individual credit information out? The “black” market has established connections in retrieving your credit report, credit score, credit card details, or other relevant information – beginning growth phase of potential fraudulent schemes such as identity theft or unauthorized access of credit cards. A quick buck might land you into legal implications or locked into jail. In any financial institution’s compliance document, you’ll see a disclaimer that the principle agent is not responsible for financial hiccups, loss of data, privacy breaches or target of reparations.


Management of personal information sale is strictly prohibited. If you’re undertaking such a risk, sale of individual information, sale of other’s information, identity theft fraud, or any restricted content, chances of not being able to recover credibility in the eyes of creditor(s) are of permanence. There is no way in resuming intra-day debt-financing activities across domestic financial agents. Steer clear of mismanaging personal information; 1. Banks are not liable & you’ve signed an indemnify agreement and 2. Sale of personal information is not allowed.

Reseller: When you perform sale of an identity, revealing of personal rights, a fraudulent identity theft company shall set up a new credit file (that of yours) and initiate unauthorized borrowings (usually from a small undetected amount to vastly large sums). By the time of acknowledgement, your entire credit history collapsed, and rebuilding of new profile requires a great deal of effort.


5. Never give away your credit report: Many consumer debt reports are available online for sale. Such distribution of content greatly increases opportunities of theft to your personal identity. Do not issue out your report card to anyone, a credit repair company, a creditor, a credit bureau, or a relative. In case of requiring financial assistance, you’ve to seat down with the individual and review your credit report together, settling on the spot or pending outstanding issue for future discussion.


Management of distribution of local credit report is prohibited. If you risk the report card to be given to a thief, there is no legal responsibility on the side of financial institution or 609 credit repair company. Once personal information is available, either on the Internet for everyone to view globally, or simply to the dark web for sale at high price, chances of retrieval is slim & necessary lawyer charges shall be pressed against you – dashing any hope in cleaning up your credit history.

Distribution: Content reviewing is different from content revealing. Do not share any individual information, personal identity, credit card details, or exchange of identities, to anyone. The reseller will have an opportunity to capitalize on identity theft and exercise fraudulent activities upon goodwill.


Good to know in fixing a credit report

Before concluding on the do’s & don’ts of a credit report, you’ve to pay close attention to ancillary evidences as well as supporting factors – maximizing your chance(s) of improving your credit score. A report card has to be digested before diving into legal disputes.


Observe the ancillary variables below to further improve your personal fico scorecard:

  • Always purchase a credit bureau report when in doubt
  • Regularly monitor daily activity & personal expense
  • Check your credit score on the go
  • Find ways to improve credit rating among agencies
  • Make full use of an annual credit report
  • Call 3 credit bureaus: Experian, Equifax & Transunion
  • Book an appointment to check credit score
  • Learn how credit check companies operate
  • Use a credit score calculator
  • Invest time & effort in credit protection
  • Timely reminder on observing recurring payment
  • Resolve credit dispute in an amicable way
  • Detect your problems early via consumer credit report
  • Never divulge personal information to kin


The above mentioned ancillary support shall enhance your overall credit report, scoring model or general overview. It’s imperative to attempt all the do’s and don’ts of a credit report but not advisable to include online score calculations or researched content – most had been reused till abuse. For those who wanted to learn on various strategies in combating poverty, learn: how to check your credit score.


Quote of the Day: “Never reveal the truth to everyone – KIG Hall [2013-2018]”


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This article was originally published on February 07, 2014. It has since been updated.