Posts Tagged ‘Fix’

Dealing with Split Credit Reports

Of course, you can go to Annual Credit Report.com to get your authorized free credit report. Still, there are differences between what you may find provided by the three different bureaus.

A Common Problem

On all three bureau reports the errors are difficult to find and reading them may seem very complicated if you are not used to doing so. Another common problem is this: Sometimes all of the consumer’s information in these said reports might be split because two names were used by the consumer.

Other splits may occur be because of common names. For example, a father and son with the same name may have split credit reports.

Other problems pertain to instant credit reports. Some accounts show up on one instant credit report while other accounts show up on another instant credit report. Sometimes as in the case of TransUnion, additional social security numbers are not shown on someone’s file.

Furthermore, additional names, addresses, and possible accounts that don’t belong appear on the report may also appear. The appropriate bureau should be contacted immediately especially in this case.

Possible Causes

There might be a variety of reasons that splits occur in credit reports. Some of the contributing factors may be one of these:

  • A result of consumers who frequently use and pull their personal instant credit report on a daily basis from monitoring services
  • Compilation of soft hits to the credit report
  • When a credit report file becomes too large

A Solution

In the case of split credit reports, Equifax gives the following advice to consumers: Add both scores and divide by two. The end result is the score to be used. However, it is necessary that you inform Equifax that the file needs to be re-merged.

In the case of mix-ups, the consumer must contact the appropriate with the proper I.D. to correct the situation. For instance, TransUnion may require a copy of his driver’s license to update the instant credit report.