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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.uk
If you're quick you may still find the special offer he is
running for the ebook. http://ukcreditsecrets.co.uk
MORE RESOURCES:
MORE COLLEGE CREDITChicago Sun-Times, United States - 10 hours agoDespite the current nationwide credit crunch, the State of Illinois secured $100 million for the student loans by tapping a new source -- credit unions. ... |
Boston Globe |
US travelers face credit snafuBoston Globe, United States - 8 minutes agoBy Eric Lucas All I wanted to do was buy gas, so I put my credit card in the automatic card-reader and got ready to fill the tank. ... |
Credit - Google News
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