Credit Report Repair: Build Your Future On A Solid Foundation |
|
Enrolling in a credit report repair
program helps the customers to build their future financial life on a solid
foundation. After obtaining a copy of your credit profile, you should make it a point to check all the personal information (name, address, etc.) to make sure that every entry is accurate. Make a note of any changes that need to be made for a proper credit report repair. If you come across any kind of error on your credit report, you should immediately apply for a credit report repair program. This is because, if you overlook the errors and do not apply for a credit report repair program, it will be quite difficult for you to get a good deal on your loans in the future. The first step in a credit report repair program is getting a copy of your credit report. To detect and rectify any errors or discrepancies in your credit report, you can apply for a copy of your credit report from any of the three major credit bureaus: Equifax, Experian and TransUnion. These bureaus charge a nominal fee of only $10 to $20 to furnish the credit report for you. It is quite convenient at the same time to do so. You can call the bureaus over phone or Internet. Once you have obtained the copies of your credit profile, make sure to check all the personal information properly. This information includes: your name, address, date of birth, social security numbers, sex, occupation, spouse's name, phone number, occupation etc. Now that you know what all is there on your report, make a note of all the changes that need to be made for a proper credit report repair. To carry out your credit report repair properly and effectively, the next step would be to send a letter to each of the bureaus outlining the inaccuracies and discrepancies in your credit report and also the changes you would want them to make in your report. Also, it is advisable to send the credit bureaus a copy of the your credit report with inaccurate information encircled for their convenience and accurate action. All correspondence should be sent via certified mail for future records. Additionally, it is important to save a copy of everything that is sent. Once this information has been received, each credit agency must initiate an investigation within a period of 30 days. If an error is discovered, the agency is required to send a corrected report to any creditor that had requested a copy over the past six months. Per the Fair Credit Reporting Act (FCRA), it is mandatory for the credit-reporting agencies to provide a copy of free credit report to all the consumers. For the benefit of the consumers, this has to be done on an annual basis. For this purpose, the Fair Credit Reporting Act asks the three major credit bureaus to set up a centralized source and makes it imperative for them to provide the report to the customers only though this source. The centralized source includes a website www.annualcreditreport.com, a toll free phone number, 877-322-8228 and a mailing address, Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281. This makes the whole process of availing the benefits of credit report repair program much easier and less time consuming. To go ahead in your credit report repair process, it's necessary for you to apply for your free credit report through the centralized source. But you also have the right to request for a free credit report directly from the credit bureaus under certain circumstances. You may be eligible for free reports if: - You have been denied credit, housing, employment, or insurance based on the information in your credit report within the last 60 days (from the bureau that supplied the information). - Adverse action was taken against you based on information contained in your free credit report - You certify that you are unemployed and plan to seek employment within 60 days. - You certify that you are receiving public benefits. - Your report is inaccurate due to fraud. At the end, it is much more important to succeed in credit report repair by obtaining copies of your credit report from all the three credit bureaus on an annual basis. It is important to act immediately in case a discrepancy has been discovered in your report. When contacting the creditor and the credit bureaus, it is also important to keep records of all correspondence concerning your credit report. And finally, to accelerate the rebuilding process after credit report repair, you must try to leave at least three active credit lines open, and be perfect with them. Make it a habit to pay all of your payments on time and ensure a better financial life. |
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
|
|
|
|
| ------------------------ |
|---|
|
| ------------------------ |
|---|
Custom Search
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
Consumer Alerts | About | Bookmark Us | Contact | Espanol | Privacy Statement | Copyright | Terms & Conditions | Financial Widgets | SiteMap
Copyright © 2006 Credit Loan, LLC. 235 APOLLO BEACH BLVD, STE 218 Apollo Beach, Florida 33572 All rights reserved.
Disclaimer: The content provided on CreditLoan.com is for informational purposes only; do not make any financial decisions based on its content. Financial decisions are personal, based on an individual's situation. Consult with a financial professional before making any financial decisions. CreditLoan.com is not liable for your financial actions.
