Check your credit report: steps that can help

Many people do not review their credit report until they need to apply for credit. Reviewing your report regularly can help you identify errors, detect signs of possible fraud and understand what lenders may see when they review your credit history.

Review your credit reports carefully

• Request a free copy of your credit report from both Equifax and TransUnion.
• Check your personal information, accounts, balances, payment history and collection items.
• Look for accounts, debts or credit checks you do not recognize.
• If information appears incorrect or out of date, contact the credit reporting agency that shows the information.
• If the issue relates to a specific debt, payment or collection item, contact the lender, creditor or collection agency connected to the account.
• Keep records of letters, emails, screenshots, dates and names when you follow up.

Watch for credit repair warning signs

You do not need to hire a credit repair company to dispute errors on your credit report. You can take steps to build your credit score on your own. Credit repair companies may claim they can remove negative information from your credit report or quickly improve your credit score. Be cautious. Generally, negative information cannot be removed simply because you ask. If you choose to hire a credit repair company, review the agreement carefully and ask questions. Make sure you understand the services being offered, the fees that may apply and your rights as a consumer. In New Brunswick, a credit repair company cannot charge an advance fee until a material improvement has been made to your credit report or credit score.

Who to contact

Reminder: You do not need to review everything at once. Start by requesting your credit reports, review each section carefully and follow up with the appropriate organization if information appears incorrect or unfamiliar.