Scoring a low car insurance rate, landing a job, renting an apartment, nowadays your credit report is tied to much more than just getting a loan.
And if there's an error, it can be a huge headache.
"Oh, it was very frustrating, it put us several months behind," said James Hayes Jr. from Taylors.
"My wife and I went to apply for a loan and they turned us down and we said why and they said because you already have an existing mortgage. And it's like, that's not possible," he said.
Hayes was denied a mortgage because his credit report had confused him with his father, James Hayes. And the burden of proof was on him.
"When they looked at the data of the first mortgage and then looked at the date of my birth I would have had to have been 7 years old to take out a home loan," he said.
"If there's one error you need to correct that as soon as possible because that affects your score," said Ann Fitzsimmons with Carolina Collegiate Federal Credit Union.
She says a common mistake she's seen are paid bills that go unreported.
"You need to know, once you pay to collection, that you call the bureau and say look it, I paid that, follow through and have it corrected on my credit," said Fitzsimmons, who adds that sometimes collection companies can be lax on reporting to the credit agencies.
The first step to finding an error is checking your reports. At AnnualCreditReport.com you'll have access to the 3 reporting agencies for free once a year.
You can dispute errors online, but experts recommend sending proof via certified mail to each agency.
And a little leg work can lead to a happy ending.
"They did get it corrected and we were able to get the mortgage and we've been in the home ever since," said Hayes.
Experts say it's crucial to look for errors because they can have a huge impact on your credit score. The three credit reporting agencies are required by law to investigate your case and respond within 30 days.
To File A Dispute:
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