Bad Credit and Credit Reporting Errors

Correcting errors on your credit report can save you hundreds of dollars in interest charges even if you still qualify for just a bad credit auto loan after the corrections have been made.

Checking Your Report to Avoid & Fix Bad Credit Issues

Here at Auto Credit Express, we are in the business of matching up consumers with bad credit with dealers that specialize in special finance in order to finance vehicles with bad credit car loans. During the process of repaying these loans, these same consumers end up rebuilding their credit.

In previous articles, we have mentioned to consumers and our customers that it is important to get a copy of their credit reports (one from each of the three bureaus). But what should you do if you find that something in those reports is incorrect?

  • Reviewing Your Report
    Once you receive the reports, you should go through each of them, line by line, and look for any information that may be outdated, erroneous, or not even yours.
  • Contacting the Source
    In each of the credit reports, along with the name of the creditor, is the information that you’ll need to contact the creditor directly – by phone or in writing. If the creditor responds by notifying you that the information was incorrect, make sure you get this correspondence in writing. You can also contact each of the credit bureaus, through their dispute process, to correct any errors. But give yourself plenty of time; the data provider may have up to 45 days to verify the information with the credit bureau.
  • Keeping Records
    Make sure to keep all paperwork that involves these disputes. In the event that the creditor or the credit bureau continues to report the wrong information, you can show this to the loan officer as proof that the entry is incorrect.

How We Can Help

At Auto Credit Express, we have helped thousands of people with bad credit begin the process of getting back on their feet while financing a new or low mileage used car. During the process, we make no pie-in-the-sky promises with regard to guaranteeing that your application will be approved. We will promise to do our best to see that your application is placed with a dealer that not only knows special finance, but one that is as close as possible to where you live.

When you visit our web site, you should feel free to use our auto loan calculators, as they can give you a reasonable idea of what you can afford. We also have live operators who are anxious to answer any questions that you might have. You can also view a list of the basic requirements of a loan before you apply.

Your odds increase when you fill out an application

Why spend the time and the money driving from dealer to dealer when you can fill out an application online? Our application is SSL secured to safeguard your privacy and we are an accredited business with the Better Business Bureau. Our address, along with a toll free number, is listed at the bottom of every page.

Posted on December 3, 2009 by in Used Cars
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