Delinquencies can cause credit report errors

In recent months, Americans increased the frequency of their credit card payments and reduced harmful delinquencies. However, Equifax, one of the leading nationwide credit reporting agencies, found a number of consumers are still struggling to control their debt, owing as much as 17 percent of their income to credit card lenders.

Consumers who find this much of their monthly earnings going toward credit card payments put themselves at an increased risk for delinquencies and credit report errors. In addition, individuals who have experienced these issues may have seen credit score damage affect their interest rates on credit cards, insurance and new loans.

As a result, individuals who have faced a recent delinquency or have been denied a loan or credit card, should check their credit reports regularly. Once an error is detected, consumers should contact their banks, lenders and major credit bureaus to alert them of the problem. This dispute process can often take a long time to resolve, resulting in the blemish lingering on a report for an extended period of time.

By contacting a credit repair company, consumers can increase their chances of having these problems resolved. A credit lawyer can help you organize your documents and present a clear and well-founded case to support your cause.