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.
The FCRA is the basis for what we are entitled to see and the rights that we have as consumers with the credit reporting bureaus. Keep in mind that these credit bureaus are private businesses that need to "make a profit." Therefore we have a right to know what their respective reports are saying about us.
Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.
The FTC (Federal Trade Commission) tells us that we do not need to arrange for "magic fix" from a possibly dishonest agency. We can fix our credit ourselves. The FRCA basically says that the only "negative" information that is permitted to remain on your credit report is negative information that can be proved 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.
All of your data regarding inaccurate information will need to be documented and provide your proof of an error. This will be sent to the Credit Bureaus who must respond. It will be up to them to prove all information is true.
If you feel that this process is definitely something that you cannot complete yourself, you might be considering "credit counseling." Please Beware of companies that advertise ability to change your credit score almost overnight. If it sounds too good, it's probably true. Also, you may be required to pay a high "up front" fee and a monthly fee. Remember, these agencies are also businesses that need to make money. These could be SCAMS.
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. - 16492
The FCRA is the basis for what we are entitled to see and the rights that we have as consumers with the credit reporting bureaus. Keep in mind that these credit bureaus are private businesses that need to "make a profit." Therefore we have a right to know what their respective reports are saying about us.
Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.
The FTC (Federal Trade Commission) tells us that we do not need to arrange for "magic fix" from a possibly dishonest agency. We can fix our credit ourselves. The FRCA basically says that the only "negative" information that is permitted to remain on your credit report is negative information that can be proved 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.
All of your data regarding inaccurate information will need to be documented and provide your proof of an error. This will be sent to the Credit Bureaus who must respond. It will be up to them to prove all information is true.
If you feel that this process is definitely something that you cannot complete yourself, you might be considering "credit counseling." Please Beware of companies that advertise ability to change your credit score almost overnight. If it sounds too good, it's probably true. Also, you may be required to pay a high "up front" fee and a monthly fee. Remember, these agencies are also businesses that need to make money. These could be SCAMS.
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. - 16492
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