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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Whether it's human error, out of date information or even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!
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