Online Credit Reports
No one can legally remove accurate and timely negative information
from a credit report. But the law does allow you to request a
reinvestigation of information in your file that you dispute as
inaccurate or incomplete.
There is no charge for this. Everything a
credit repair clinic can do for you legally, you can do for yourself
at little or no cost.
According to the Fair Credit Reporting Act:
You can dispute mistakes or outdated items
for free. Ask the credit reporting agency for a dispute form or
submit your dispute in writing, along with any supporting
documentation. Do not send them original documents.
Clearly identify each item in your report that
you dispute, explain why you dispute the information, and request a
reinvestigation. If the new investigation reveals an error, you may
ask that a corrected version of the report be sent to anyone who
received your report within the past six months.
Job applicants can
have corrected reports sent to anyone who received a report for
employment purposes during the past two years.
You are entitled to a free copy of your
credit report if you've been denied credit, insurance or employment
within the last 60 days.
If your application for credit, insurance,
or employment is denied because of information supplied by a credit
bureau, the company you applied to must provide you with that credit
bureau's name, address, and telephone number.
Obtaining a Credit Report
If you've had a problem with a credit repair company, don't be
embarrassed to report them. While you may fear that contacting the
government will only make your problems worse, that's not true. Laws
are in place to protect you. Contact your local consumer affairs
office or your state attorney general (AG). Many AGs have toll-free
consumer hotlines. Check with your local directory assistance. By law, credit repair organizations must give
you a copy of the "Consumer Credit File Rights Under State and Federal
Law" before you sign a contract. They also must give you a written
contract that spells out your rights and obligations. Read these
documents before signing the contract. The law contains specific
protections for you.
Obtaining Credit With a Poor Credit Report
Even if you don't have a poor credit history,
it's a good idea to conduct your own credit check-up, especially if
you're planning a major purchase, such as a home or car. Checking in
advance on the accuracy of the information in your credit report could
speed the credit-granting process. Just because you have a poor credit report doesn't mean you won't
be able to get credit. Creditors set their own credit-granting
standards and not all of them look at your credit history the same
way. Some may look only at more recent years to evaluate you for
credit, and they may grant credit if your bill-paying history has
improved. It may be worthwhile to contact creditors informally to
discuss their credit standards.
iCreditReports - Did you know there are 3 National
Credit Bureaus keeping credit files on you and these credit bureaus
DO NOT share information? Did you know that different lenders look
at different credit reports? Be sure, be safe get ALL THREE!
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