Make a habit to track regularly tracking of your credit history is the only way to identify a fake entry in your name. But how does one track?

In the last few weeks, many well-known celebrities discovered fake loans in their name and all hell broke loose in the media! There were articles and blogs all over which explained how, why this could happen, which put pressure on the financial entity to proactively take ownership and resolve the issue.

But what if it were not a celebrity? What happens if this happens to you or any of your friends or family? What are you supposed to do then? Where do you go and complain? Better still, how are you supposed to ensure this doesn’t happen again?

Fortunately, there is a solution – and in fact, it’s not that complex either! The only way to ensure this doesn’t happen to you is by tracking your credit payment history regularly and making sure no incorrect entry has made its way into your credit report.

Below is a 5 step approach we suggest to follow as a healthy financial practice.

1. Track your credit score

This holds true even if you have been paying perfectly on time. The more regularly you track it, the quicker you will notice a drop in score or a new erroneous or fake entry in your payment history.

You can use any platform for regular checks, however most will charge you after 1-2 pulls of the credit report.

Alternatively, OneScore is a tech-powered yet super simple app which lets you check your credit score and all things related, free for life.

2. Raise a complaint

As you are aware, there are many bureaus in our country, but for the purpose of this blog, let’s assume that the score drop or the fake/erroneous entry is related to your Experian score. You have two options – directly go to the Experian website and simply follow the process to report a wrong entry.

3. Keep a close watch

Your job doesn’t end after reporting, unfortunately. The resolution can take weeks to months as they will first need to check the genuinity of the claim. One done, you will get notified that your dispute has been resolved and the incorrect loan has been removed from your report.

4. Be Informed

Proud of being an informed, financially educated, smart customer who checks their credit score and credit report regularly and tells others to, too! #scoredekhakya

5. Repeat it!

Genuine or fake – all loans are listed in your credit report. Even fraudsters don’t have a way to manipulate your report to their benefit. Download OneScore app and make it a habit to check your credit report month on month- and ensure your financial life is right on track. #livehyd #hydnews

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