Information reported incorrectly by lenders to the credit repositories often contributes to lower credit scores. With 33 percent of all credit reports containing one or more errors, SettlementOne realizes how important it is to update your borrower’s reports in a timely manner. Through the SettlementOne system, errors are often easily correctable.
SettlementOne has implemented a turnkey approach to research and investigate potential errors on borrower’s reports. Your consumers simply enter the tradelines that are reporting incorrectly and SettlementOne then contacts the bureaus on your borrower’s behalf. Within 30 to 45 days, the results of the investigation will be communicated to consumer, and if the tradeline information is found to be reported in error, it will be removed from the consumer’s credit file.
- Error correction directly at the bureau level
- Easy-to-use online system
- Timely correction (within 30-45 days) if an error is found
- Error correction may lead to an increase in borrower’s FICO score
- No cost to you or the consumer
SettlementOne’s EZ Error Correction quickly researches potential errors and provides timely communication to the consumer, resulting in the correction of tradeline information that is found to be reported in error, all without costing your or your borrower a penny.
Submit an EZ Error Correction Request here: