Everyone should be proactive about monitoring their personal financial data.  Credit reports have become consumers’ passport to the financial world.  It is very important that you make sure that the information in your report—that is used to formulate your credit score—is accurate. You are entitled to one free report annually from each of the three credit bureaus—Equifax, Experian and TransUnion.  You can get these reports by going to AnnualCreditReport.com.

If there are mistakes in your report, send a written dispute via certified mail, return receipt requested. Don’t file the dispute online. You need to create a paper trail in case you ever need to show a record of your efforts in court. The Federal Trade Commission has a sample letter on its web site. You should also send the dispute to all three bureaus.  If you were denied credit because of an inaccurate credit report, send a copy of your letter to the creditor also.

Unfortunately, we are all so victimized by this draconian system.