A Notice of Correction is a short statement that you can add to individual items on your credit report. The statement should briefly explain why a debt included in your credit file is not reflective of how you generally manage your finances. If a lender performs a credit check in the future, they are legally obliged to read the note to take this information into account. However, they are not legally obliged to do so, and it is not guaranteed to influence their final decision on whether to approve your credit application. If the item flagged is clearly a one-off incident, a Notice of Correction could prevent the issue from affecting your future applications. On the other hand, adding a note to multiple items that demonstrate a consistent pattern of missed payments or penalties is unlikely to have an impact on your score.
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