Improving Your Credit Report
Even if you think you have a wonderful credit report, be wary of the error factor. Just as you receive mail with your name and address misspelled, your credit report can have errors as well. Whether it's human error, out of date information or even mistaken identity, errors occur more easily than we'd all like to think.
Under the law, both the credit reporting agency and the organization that provided the information to the credit reporting agency have responsibilities for correcting inaccurate or incomplete information in your credit report.
So, if you find an error on your report, be sure to notify the credit bureau in writing immediately:
1. Tell the CRA what information you believe is inaccurate on your credit report. Include copies, never originals of documents that support your position.
2. In addition to providing your complete name and address, your letter should clearly identify each item in your credit report that you dispute. State the facts and why you are disputing the information. Enclosing a copy of your credit report with the items in question circled can be helpful.
3. Though you may think your reason for writing is obvious, be sure to request that the error be corrected.
4. Send your letter by certified mail, return receipt requested so you can document what the credit reporting agency received. Make sure your letter is dated, and don't forget to keep copies of everything you send.
Credit reporting agency must reinvestigate the item(s) in question, usually within 30 days unless they consider your dispute frivolous. They also must forward all relevant data you send them to the information provider (bank, credit card agency, etc.).
After the information provider receives notification of a dispute from the credit reporting agency, it must review and investigate all relevant information provided and report the results back to the credit reporting agency.
If the information provider finds the disputed information to be inaccurate, it must notify all nationwide credit reporting agency so that they can correct this information in your file.
Disputed information that cannot be verified must be deleted from your file.
Inaccurate information must be corrected by the CRA.
Incomplete information must be corrected by the CRA.
Any account that belong only to another person must be deleted by the CRA.
NOTE: Credit repair can be long and tedious, the importance of knowing your rights cannot be emphasized enough so be sure you take time to digest this information.
Copyright © Credit and You | All Rights Reserved |
To find more easy steps anyone can take to repair there credit report and what to do after the investigation visit http://www.creditandyou.com/creditrepair.html it's a free information website!
Latest News
AFP | Stocks dip on banks, oil CNNMoney.com - Meanwhile, the Wall Street Journal reported that the Federal Reserve quizzed Credit Suisse last month about a rumor that it had pulled a line of credit from ... Tough outlook for exporters weighs on Asian stocks GLOBAL MARKETS-Stocks slide sharply on US economic data Stocks fall on worries over financials, rising oil |
![]() HispanicBusiness.com | US stocks close mixed Straits Times, Singapore - 'Fannie and Freddie worries and rumours about Lehman and a pulled credit line seem to be sending money back out of the financials and back into commodities' ... Stocks fluctuate on rising oil, financial worries Comtex SmarTrend(R) Morning Call -- August 21, 2008 Wall St drops on credit fears, soaring oil |
Banks' direct borrowing eases but still hefty -Fed Reuters - Primary credit borrowings averaged $17.51 billion per day in the latest week, down from a record $17.70 billion per day the previous week. ... Banks borrow less from Fed's emergency loan window |
Credit-card troubles sap Target's earnings Bizjournals.com, NC - Big-box retailer Target said its second-quarter profit fell 7.6 percent amid serious deterioration in its credit card business and weak sales of higher-end ... 2nd UPDATE: Target 2Q Net Falls 7.6%; Card Troubles Continue Two Ways To Play: Target in Credit Crossfire Stage raises full-year guidance |
![]() Investment Markets | Yen, Swiss franc stronger on credit fears Currency News, UK - The yen and the Swiss franc both strengthened Thursday on speculation that concerns about losses related to the credit crisis will cut demand for purchases ... Yen Rises as Credit-Market Losses Damp Demand for Higher Yields Dollar fall against majors as a manufacturing slump is predicted Dollar steadies, gains capped on oil, credit jitters |
Reuters | Four at Four: Heard It Through the Grape Vine Wall Street Journal Blogs, NY - There are no easy answers, solutions, or even courses of action for the Federal Reserve amid the current credit crunch, which, while seemingly abated a bit, ... UPDATE 1-Federal Reserve investigated Lehman rumors- WSJ Fed Investigated Lehman Rumors Fed Acted on Lehman Rumor |
Fiber Optic JDSU: An Indicator Of Consumer Credit Slump Barron's Blogs - Part of the company’s business, the “Advanced Optical Division,” consists of coatings used on credit cards. That business, which is 13% of sales, ... |
Banks Warn Credit Card Legislation May Hurt, Not Help Consumers Bloomberg - He said he was shocked to see on his next credit-card statement that as a result his interest rate had more than doubled, from 13.9 to 28.9 percent, ... |
Australia's New England Credit Union Unifies Rural Communications ... FOXBusiness - SYDNEY, AUSTRALIA -- (MARKETWIRE) -- 08/20/08 -- New England Credit Union(2) (NECU), Australia's largest inland regional community credit union with more ... |
Credit union scam in Martinsville & Henry County WDBJ7.com, VA - We're told someone is calling individuals to tell them their account at Martinsville Dupont Credit Union has been suspended and that they should call a ... Martinsville Police warn of phone scam |
Resources
-
Bad Credit Loans, Bad Credit Credit Cards - YoureApproved.org!
Personal loans, Credit cards from bad Credit lenders including bad Credit loans - high risk unsecured bad Credit cards - debt consolidation loans - payday loans!
-
Bad Credit Loans - Personal Loans - Credit Cards - Home Loans - Auto Loans - Credit Repair
Bad Credit loans and Credit cards - personal loans - high risk loans - Credit repair - free government grants - government auctions - police auctions - debt consolidation - filing bankruptcy
-
No Money Down - Creative Real Estate Investing!
Learn how to control real estate Without Credit checks and no money down! You can Buy With No Credit!
-
Pass Your Class - Pass Your Clep Tests - Guaranteed!
Pass your CLEP tests - Guaranteed! Pass or Pay Nothing. 98% of all students that study our materials PASS!
-
Debt Elimination that Works: Remove All Your Debt, including Credit Cards and Mortgage in 3 to 5 yea
Debt Elimination that Works: Remove All Your Debt, including Credit Cards and Mortgage in 3 to 5 years.
-
Access Loan.
15,000 Cash Loan - Even With Credit Problems.
-
Credit Repair in 1-3 Months!
Credit Repair - Repair bad Credit within 1-3 Months.
-
Profit in Real Estate Without Cash, Credit or Risk!
Profit in real estate without cash, Credit or risk. Learn how to make quick cash in real estate without owning property.
-
Repair Credit Reports
A Downloadable Credit Repair Guide Aff. Make 50% Comm.
-
Credit Repair
Great seller quick turn around. High payout.

