The Fair Credit Reporting Act (FCRA) is written as a protection for the consumer and not the credit reporting agencies. Please see www.ftc.gov/s/statutes/fcradoc.pdf for details of this important act.
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."
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 These reports may have outdated and completely false claims which can ruin your credit without you knowing it.
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.
When you do the comparison and review of your reports, if negative information is true, "it has to stay." Mark the entries you plan to dispute. Then you will make a case for removal.
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.
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. - 16003
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."
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.
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.
When you do the comparison and review of your reports, if negative information is true, "it has to stay." Mark the entries you plan to dispute. Then you will make a case for removal.
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.
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. - 16003
About the Author:
With never before seen 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.
