You should review a copy of your credit report, annually. Although credit-reporting agencies make every effort of ensure the information included in your credit report is accurate, mistakes do occur and will affect your credit rating. If you check your credit report annually, you will be able to have the wrong information corrected before it becomes a problem.

If you find a mistake in your credit report, bring the error to their attention. A number of credit reporting problems are from someone else’s information showing up on your credit report. If you don’t recognize the creditor doing the reporting, contact the credit bureau and get the contact information, so you can follow up with them.

Creditors make mistakes too. It’s not the credit bureau that corrects these errors; you must contact the creditor directly to have any erroneous information on your credit report, corrected.

If you are turned down for a loan or for rental housing because of negative information on your credit report, you may need to repair credit score. Credit bureaus make an effort to provide accurate information but it's up to you to check your credit annually and make an effort to repair credit score so you can get a loan or housing when you need it. Effective money management means taking a proactive stance on managing your credit. You may be able to get a free credit report from your lender.

Repair credit score so you can have access to money when you need it. When applying for a mortgage or other major loan most lenders will give you a free copy of credit report. Utilize this free credit report to correct any erroneous derogatory information on your record. Remember to ask for your free credit report otherwise you may have to pay for one to find out what's on it.

If you don't recognize information for lenders on your free credit report and you have a need to repair credit score based on their reporting, ask the credit bureau for more information on that lender so you can contact them directly and find out what the derogatory report, applies to.

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About the Author: Ryan Atkinson is the founder of http://www.money-management-info.com/debt-management.html. Helping others understand the fundamentals of managing money. Click here to learn more about Debt Management through Debt consolidation & Debt Consolidation Loans.