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Credit where it's due
Over recent years, many people have been happy to take on more and more credit. Mortgages, credit cards, overdrafts, personal loans, store cards, store deferred payment schemes, mail order and hire purchase the list goes on. Credit cards have been...
Free Credit Reports From The Government
The Federal Trade Commission (FTC) has set up a new website ( www.AnnualCreditReport.com ) where US residents can obtain free copies of their credit reports from the three major credit report bureaus (Equifax, TransUnion and Experian). The FTC...
Home Loans – Repair Credit Errors in Three Days!
Most consumers are aware that a history of paying bills late or not at all can hurt one’s ability to obtain a loan. All financial transactions are recorded by three credit bureaus and offered to lenders upon request in the form of a credit report....
How Do You Know If Your Credit Card Agent Is the Best?
Since you are the customer, there must be a glut of credit card
agents constantly hounding you day-in, day-out. They may try to
cram all their pitches in hour long phone call marathons or
minute long infomercials and may run the gamut of...
How to Repair a Bad Credit Rating
If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished. Once you have a bad credit rating, it might seem like there's nothing that you can do about it… but you don't...
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Your Credit Report, A little Improvement Can Go A Long Way.
You may think you have a marvelous credit report, be cautious of the mistake factor. Just as you receive mail with your name and address misspelled, your credit report can have errors just like anything else. Whether it is someone’s typing over site, out of date info or even mistaken identity, errors go on more regularly than we all can imagine.
According to the FTC, both the credit reporting agency and the establishment that provided the information to the credit reporting agency have duties for correcting wrong or incomplete information in your credit report.
While checking your credit report, if you locate incorrect information on your credit report, without hesitation notify the CRA in writing directly:
1. Tell the Credit reporting agency what information you believe is incorrect on your credit file. Send copies, never originals of documents that support your position.
2. Be sure to providing your entire name and address, your letter should clearly describe each entry in your credit report that you question. Tell the facts and why you are challenging the information. Sending a copy of your credit report with the items that are not correct highlighted can be help full.
3. Although you may imagine your grounds for writing is self explanatory, be certain to ask that the over site be fixed.
4. Send off your correspondence by certified mail, return receipt requested so you can document when the credit reporting agency
received your letter. Be sure your letter is dated, and never forget to keep copies of everything you send.
Credit reporting agency must look into the item(s) in question, generally within 30 days unless they assume your dispute is trivial. They also must send on all relevant data you send them to the company that gave them the information for your credit report.
After the establishment receives notification of a dispute from the credit Bureau, it must review and go over all relevant information rendered and report the final result back to the credit reporting agency.
If the company finds the disputed information to be wrong, it must advise all nationwide credit reporting agency so that they can change this information in your credit file.
Disputed information that just can’t be affirmed must be erased from your credit file.
Inaccurate information must be fixed by the credit reporting agency.
Incomplete information must be corrected by the credit bureau.
Any item that belong only to another person must be erased by the CRA.
NOTE: Credit repair can be long and unexciting, the significance of being well-informed of your rights can’t be emphasized enough so be sure you take time to digest this information.
About the Author
To find more convenient steps everybody can take to fix there credit file and what to do after the investigation visit http://www.creditandyou.com it’s a free information website!
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