See www.ftc.gov/s/statutes.feradoc.pdf for the details of the Fair Credit Reporting Act (FRCA). This act is written, not for the credit reporting agencies, but for consumers.
The FCRA explains what we can see from the credit reporting agencies and our rights. We have a right to view the financial history which the credit bureaus have for us. Remember that these agencies are interested in money and are "for profit."
There is much information on your credit report regarding your financial picture. Even though most of the entries may be accurate, it is possible that you may find false and/or outdated information in these documents. This could be an unwelcome surprise.
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.
You will then put together all your documentation for your claims that information is inaccurate. This data is your proof. Send to the credit bureau(s). They must respond and they must prove that the 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.
You can be sure that there are honest companies and people who will provide help. Try finding referrals from others to help find a reputable person who will address your needs. - 16492
The FCRA explains what we can see from the credit reporting agencies and our rights. We have a right to view the financial history which the credit bureaus have for us. Remember that these agencies are interested in money and are "for profit."
There is much information on your credit report regarding your financial picture. Even though most of the entries may be accurate, it is possible that you may find false and/or outdated information in these documents. This could be an unwelcome surprise.
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.
You will then put together all your documentation for your claims that information is inaccurate. This data is your proof. Send to the credit bureau(s). They must respond and they must prove that the 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.
You can be sure that there are honest companies and people who will provide help. Try finding referrals from others to help find a reputable person who will address your needs. - 16492
About the Author:
With unprecedented challenges in the credit markets it?s more important than ever to have excellent credit. For more information visit Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
