The Exact Action To Take When You Find Errors In Your Credit Report
There are times when you may be turned down for credit and you do not understand why.
According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on state benefits, or believe that your credit report is incorrect because of fraud.
You may also receive a copy of your credit report for a small fee at any time in which you want to review the information contain therein.
If you dispute any of the information on your credit report, there are steps that you, the credit reporting agency and the information provider must take to have the information corrected or deleted form your report.
1. You should contact the credit reporting agency and request that the inaccurate information be taken off. To do this you will need to send a letter of request and enclose a copy of the report with the incorrect information highlighted. Send your request certified mail and indicate that a return receipt is requested.
2. The Credit reporting agency will forward the request to the information provider at which time they will review and investigate the request. If the information cannot be verified, then they must remove it. They can either correct or deny the request to change the information. They will then send their findings to the credit reporting agency.
3. If the information provider finds that their was an error they will provide written proof of the change and send a copy of the report to you, the credit reporting agency and anyone who has requested a copy of your credit report in the last six months.
4. If the information provider finds that there was no error, you can request that the credit reporting agency send a copy of the disputes with any report that is requested by creditors. You can also provide an explanation of a negative report in 100 words or less that will be included in any reports to creditors.
Another alternative is to pay the debt, which would require the creditor to report the debt paid.
You should also be aware that negative reports will remain on your credit for up to seven years at which time they will be deleted in most cases.
There are some exceptions, these include, bankruptcy, which can be reported for up to 10 years, and loans or life insurance policies which are in excess of £80,000.00, or criminal convictions, which can be reported at all times.
Michael Sherriff has authored a number of best selling eBooks covering a range of topics. He is best known for the UK hot selling "UK Credit Secrets" which is revised and updated each year to ensure consistent accuracy.
If you ever wanted to know the legal, quickest and easiest route to repairing your own credit file without having to pay someone hundreds of pounds to do it for you then you must check out his web site at http://ukcreditsecrets.co.ukIf you're quick you may still find the special offer he is running for the ebook.http://ukcreditsecrets.co.uk
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 429, exiting
Credit Card Tips
Here are some useful credit card tips for you to consider before applying for a credit card. Before applying for a credit card, you should decide why you want one, and make sure you can use it wisely.
Credit Scores and Loan Applications
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit ReportIt can make a difference of up to 18% in loan repayment costs.For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score, 760-850, will pay 5.
Repairing Your Credit Score and Clearing Derogatory Marks on Your Credit Report
Raising your credit score can be a fairly simple and straightforward process unless you have derogatory marks that need to be disputed (which will be explained below).The reasons for bad credit can be as follows, high balances, bankruptcies, late payments, and many others.
Using Credit Cards Wisely
"I think money was stolen from my card" or "I might have blocked my card in the ATM" - these are frequent problems that bank customer-support officers usually hear from agitated clients. Incorrect use of credit cards or wrong interpretations of their functions are frequent even after tens of years of credit-card extensive use.
14 Common Credit Mistakes
Establishing credit and wisely managing your credit becomes easier when you know how. You'll feel empowered by taking knowledgeable steps towards good credit, and you'll be on your way to purchasing real estate and greater financial freedom.
Bad Credit Credit Cards
Chances are you've gotten your share of offers like this in the mailBad Credit Credit Card, Bad Credit Visa Cards and Credit Cards for People With Bad Credit. Re-establish your credit with a bad credit credit card, credit cards for people with bad credit or pre-approved Visa cards regardless of your bad credit history, some with low introductory rates and other perks.
A Summary of the Fair Credit Reporting Act
This summary of the Fair Credit Reporting Act will explain what you can legally do if you want to repair your own credit report. No matter what you hear, you can dispute credit information on your credit report if you understand the legal rights you have under this law.
Credit Repair, How To
Credit repair, is in a word, vital to reestablishing your credit. Unless you plan to never use your credit again, then you have to find a way to fix it.
What Happens When Your Credit Is Damaged? Do You Have Recourse?
The good thing about bad credit is that you can fix it. If you start now, over time, your bad credit can turn into good credit, and you could qualify for the loans you want at the rates you want.
Why Americans Find Predatory Lending Offensive
"Menis - the author translates as "indignant rage" - It is the kind of rage arising from social betrayal that impairs a person's dignity through violation of "what's right." (p21), Achilles In Viet Nam - Combat Trauma and the Undoing of Character, Jonathan Shay, M.
The Truth About Credit
What you might not know about credit.Some people don't know about a loop hole in the credit reporting system.
What is Credit Repair and How Can It Help You?
There are millions of consumer credit reports on file from mainly three major reporting bureaus which include Trans Union, Experian, and Equifax. These credit gathering agencies store huge amounts of data about every person that takes out a loan, credit card, or any other line of credit.
Credit Card Incentives
Credit card companies want your business. After all, lending money to people is profitable.
How To Choose A Credit Card
Your credit score may just be a little number, but it packs a big punch. A poor credit score can keep you from getting a mortgage or a car loan.
Free Credit Reports - How to Maintain Your Credit Profile
Maintaining your Credit ProfileEvery consumer should be maintaining their credit profiles to ensure the highest scores possible. To do so, you must first order your credit reports from the three major credit bureaus: Equifax, Trans Union, and Experian.
Cash Back vs. Rewards Credit Cards
Ah, the sweet rewards of using credit!Not only do you get immediate gratification with the buy now-pay later plastic, but now, many credit cards offer rewards and incentives for using their card to make purchases. You can get cash back, or gift cards, or 'reward points' that you can spend on merchandise or services from various merchants.
Commercial Collections And Credit Granting
It is estimated that billions of dollars in delinquent commercial credit is currently being carried on the books of both American and international businesses. This figure changes as our economy grows or contracts.
Credit Repair: How To Deal With Your Creditors
If you are in danger of credit problems because you have more debts than you can handle, there are things you can do at least keep your creditors reasonably happy.First, prioritize your debts or rank them in terms of the ones that can give you the most trouble the quickest.
Identity Theft : They Got Him
His hard earned money? Gone. Creditors on his back everyday.
Myths and Truth about Credit Scoring
Credit score is the key factor determining approval of almost any type of credit. It is based on the information contained in your credit report files.
|home | site map ||