We live in the age where intrusion is a common phenomenon. Big Brother is not the only one that is watching you. Financing companies, banks and auto lenders also monitor your credit report and analyze the confidential financial information that is provided in it.And, if there is an error on your credit report, it can create massive problems for you. It can increase your interest rate, obstruct you from getting a job or prevent you from buying a car. A study by FTC has revealed that one in every five customers has an error on his/her credit report. So, you must check it for any errors and remove them at the earliest.What are the Common Credit Report Errors?Inaccurate Identity InformationThe three foremost credit bureaus – Equifax, Experian and TransUnion collect information of every American. They commit errors because of two main reasons: massive data management and human involvement. Following are the examples of errors:1. Incorrect Name and Address2. Error in Employment Information3. Mistake in Social Security NumberErrors in Financial InformationA bank or a financing company may pass inaccurate information to a credit bureau. Also, a credit bureau can commit errors while processing your financial information. The most common financial errors include:1. Unwarranted Financial Transactions2. Duplicate Entries3. Incorrect Origination Date of Mortgage4. Out-Dated Bad Debts Record5. Bankruptcy Information older than 10 YearsExistence of Fraudulent AccountsAccording to Javelin Strategy and Research, 13.1 million Americans were victims of identity fraud in 2013. The number shows how commonly a person’s information is misused in order to access money.So, while checking your credit report, you must pay attention to any unwarranted line of credit. If you find any unjustified auto loan, credit card or home mortgage, contact the credit bureau immediately and opt for a security freeze on your report.How to delete Errors from your Credit Report?Do not worry about errors on your report, here’s a step-by-step procedure to help you remove them:Collect EvidenceIf you think there is an error on your credit report, you must collect evidence to support your claim. It will help you in proving the relevant credit bureau wrong. Also, it will ensure faster results. For example, if you think that the auto loan origination date is inaccurate; you must find the auto loan contract and show the accurate date to the credit bureau.To remove errors from your report, you must dispute it with the relevant credit bureaus. Highlight all the errors and attach evidence. You must also write a letter to the credit bureaus and explain your situation in detail.Inform the Relevant Credit Reporting AgenciesCredit reporting agencies such as banks, credit card companies and lenders provide financial information to credit bureaus. It helps the credit bureaus in keeping track of your financial situation. They have a legal responsibility of investigating your complaints. So, if a bank is providing incorrect information, inform the bank authorities immediately.Now that you know what the different kinds of errors are, identify them and follow the step-by-step procedure to remove them. It will help you in keeping your credit report risk-free.