THE FCRA IS FOR CONSUMERS
Consumers will find information about their rights in the Fair Credit Reporting Act (FCRA). Please go to www.ftc.gov/s/statutes/feradoc.pdf for the details.
You will learn that you have a right to see the information all credit reporting agencies have about you. All these credit agencies are in the business of making money and need to show a "profit." The FRCA explains what consumers are entitled to see and consumer rights.
As you have previously learned, there is a variety of information on your credit reports. Some of this information is accurate while some may be inaccurate. These reports may have outdated and completely false claims which can ruin your credit without you knowing it.
According to the FTC (Federal Trade Commission) tells us that we can fix any problems with our credit reports ourselves without any help from a possibly disreputable company. According to the FCRA, the only "negative information" that can remain on your credit report is "negative information" that can be proven to be true.
Get your credit reports, compare, mark any entries that you believe are false. If it's negative and true, it has to stay. Then you will make your case for why information is false.
Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the information is true.
It is possible that you may decide that this project is really not something you can successfully complete on your own. Then you may consider "credit counseling." Do this very cautiously. "Overnight" credit fix is too good to be true and these companies could ask for a lot of money "upfront" and charge a monthly fee. Although it might sound really good, remember that these agencies are also "for profit" and need to make money. Think SCAM.
There are some honest firms and individuals who will legitimately help. Try finding referrals from others to help you find reputable help who will handle your needs in a timely fashion.
You will learn that you have a right to see the information all credit reporting agencies have about you. All these credit agencies are in the business of making money and need to show a "profit." The FRCA explains what consumers are entitled to see and consumer rights.
As you have previously learned, there is a variety of information on your credit reports. Some of this information is accurate while some may be inaccurate. These reports may have outdated and completely false claims which can ruin your credit without you knowing it.
According to the FTC (Federal Trade Commission) tells us that we can fix any problems with our credit reports ourselves without any help from a possibly disreputable company. According to the FCRA, the only "negative information" that can remain on your credit report is "negative information" that can be proven to be true.
Get your credit reports, compare, mark any entries that you believe are false. If it's negative and true, it has to stay. Then you will make your case for why information is false.
Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the information is true.
It is possible that you may decide that this project is really not something you can successfully complete on your own. Then you may consider "credit counseling." Do this very cautiously. "Overnight" credit fix is too good to be true and these companies could ask for a lot of money "upfront" and charge a monthly fee. Although it might sound really good, remember that these agencies are also "for profit" and need to make money. Think SCAM.
There are some honest firms and individuals who will legitimately help. Try finding referrals from others to help you find reputable help who will handle your needs in a timely fashion.
About the Author:
With unprecedented challenges in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
posted by Credit Counseling at
5:06 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home