Like it or not, your credit report contains vital information that can be the difference in whether you are able to buy a car, buy a home, or even land a job. Because this information is so important, it is an absolute must that you monitor your credit report on a regular basis. If you have suspect credit, you should monitor your report even more frequently. When you check your credit report, you may often run into items that mistakenly appear on it. Here are the four most common errors found on credit reports.

Look for Spelling Errors

It is more common than you think. Your credit report may have your name or address spelled wrong. Be sure to check that your social security number is correct, too. Because of these types of errors, your credit report may contain negative information that does not belong to you. Fixing these small errors could result in raising your credit score.

Items Listed More Than Once

You own one car and financed it with an auto loan. When you look at your credit report, the loan is listed twice. This may not seem like a big deal, but this inflates the amount of debt that you are holding and your debt-to-credit ratio. This does not reflect positively on your credit score. In attempting to borrow in the future, lenders will look at this information and may not realize that is it a double listing error. Removing these items will result in a more favorable credit rating.

Information That Should Not Be Listed

When you take out a car title loan at Embassy Loans to consolidate your debt, you pay off many of the accounts that are on your credit report. Paying those accounts off should result in the removal of them from your credit report. If those items still appear, it would be wise to contact the three main credit bureaus and provide the documentation that proves the accounts are paid in full.

Positive Information That Is Missing

If you have an open credit line and make payments on time, this is good for your credit history and score. When such items are not listed on your credit report, your credit score does not reap the benefits. Any positive information that is missing from your credit report needs to be reported to each credit bureau. Doing so can give your credit score a boost.

Be sure to review your credit report at least every six months. If you have a poor credit history and are trying to rebuild it, you may wish to check even more regularly. When you do find errors, take action quickly.