Unfortunately, most people don’t pay attention to their credit score and realize how important it is until they find out that they can only get approved for a low credit score loan. What’s even more unfortunate is that often times people believe they have a good credit score because of their outstanding credit history, but are shocked to find they have bad credit when they try to get approved for a loan. Typically this happens because of one of two reasons:

1) The consumer is doing things to their credit that they didn’t realize was hurting it
2) There is a major error on their credit report that has a negative impact on their credit score

What does someone who can only get approved for low credit score loans do?

There’s nothing wrong with low credit score loans except that they will cost you more money, they are harder to find and you will not get the flexible terms you are looking for. Fortunately for the consumer, there are several things you can do to almost instantly increase your credit score and get the loan you want at the rate you want.

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If you’ve recently discovered that that you need to dispute credit report errors, you are not alone. Research shows that 75 percent of credit reports have errors on them, and 1 in 4 credit reports include errors that actually have a negative impact on your credit score. This is no surprise considering that credit report agencies have to manage data for millions of people on a daily bases, and rely on lenders and creditors to provide accurate information.

As a consumer, however, your best interest is protected by the Fair Credit Reporting Act, which mandates that if you dispute credit report errors, any information that is erroneous must be acknowledged and removed from your credit report within 30 days.

So how do you go about fixing errors on your credit report? The first thing to do is to access copy of all three of your credit reports from each reporting agency, Trans Union, Equifax and Experian. You will want to compare the information on all three reports since it is likely that some information will be included on one report but not the others.

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