How many times, when you look over your credit report… hmmm, have you ever looked over your equifax credit report preventing? Well, it’s time to look over your credit report, regularly and learn what it is saying to you so you can be a smart money handler. Ok, we’re talking about Incorrect Balances here, so when looking over your credit reports, look over your account balances. If you find that they are incorrect, there are several things going on here and several ways to correct them. Remember, it is important to have low account balances so your debt to credit ratios can remain low. (Refer to # 17, 18, 19, 20, and 21)

Incorrect balances will increase your debt to credit limit, overall debt to credit limit and cost you points in both cases.

There is a remedy but it takes calling the creditor and haggling over whether they will enter the correct balance or get it removed if it was paid off or pay your bills “on time”. (Refer to # 1) This is where you pay your bills before the reporting date to the credit bureaus. Sound advice, but you have to “do” something before it will get done. Don’t procrastinate, just do it!

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