Home > Free Credit Report > Late Library Returns Can Impact Your Free Credit Report
Late Library Returns Can Impact Your Free Credit Report |
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It is only when you get turned down for a loan, receive a higher than normal interest rate, get rejected for a job or receive a higher insurance premium, do you realize that there must be some errors on your credit report. Often a state tax lien might appear on a free credit report. Even late library fines can turn up! A most unlikely source could be your library from where you might be getting your reading material and might be forgetting to return the books most unintentionally. Some libraries have now hired collection agencies to issue notices to users with excessive late materials. The Knox County Library System is planning to send notices to 180 users with items more than 45 days past due. Although it will cost the library about $5 to send each notice, they will be mild but will have an adverse effect on your free credit report. It is one thing to become aware of the need to find credit report errors, but it is quite an uphill task for most consumers to find the errors and then get them rectified. Gene Fisher, credit repair consultant, has a web site www.2005credit.com which provides a free special report on fixing free credit report and is also available by calling 1-800-809-5769. Fisher helps consumers find the errors and correct them before it is too late. Unique Management is providing its services to about 600 libraries in 40 states to collect accounts. Knox County is using the credit service for a 90 day trial. Your free credit report could be impacted if an account is left unresolved for 120 days. Fisher, who is the owner of Fisher Equities and is affiliated with Benchmark Literacy Group Credit Educational services as an Independent Representative, helps consumers before they face a problem as fixing errors is a time consuming process. He says that it is better to find the problem and get it fixed before applying for a loan, new mortgage, new job, or insurance, as it saves time, a lot of money, and embarrassment. His services include a 12-month clean credit checkup through the 3 major credit bureaus, Experian, Equifax and TransUnion. A report by Benchmark indicates that over 75% of all free credit reports contain mistakes of some kind, with at least 25% of free credit reports containing errors so severe that it would cause a loan or mortgage application to be denied. Your credit score might be impacted with a variance of 50 points by the errors on your free credit report. Your creditworthiness depends on your credit score and it is this number that places at least 8 million Americans at risk of misplacement into the sub-prime lending pool. The chief causes of errors on your free credit report could be inaccurate listings, missing satisfied loans or Mortgages, duplicate Mortgage entries and pertinent information misconstrued through data entry. Your credit score greatly influences your ability to gain proper employment, housing, as well as leasing of various kinds as the three major credit-reporting bureaus routinely sell free credit report to landlords, employers and insurance companies who use them to assess the consumer. Insurance rates are subject to adjustment based on lower credit scores. A 2% error on a $100,000 mortgage equates to over $40,000 in over-payments. A consumer is guaranteed the right to dispute any inaccurate and erroneous or obsolete information that might have appeared on his/her credit report by the Fair Credit Reporting Act. Consumers can get all the help that they need to correct problems through the services of Fisher. He also provides them the opportunity to earn additional income as an affiliate independent marketing representative. However, the best remedy to improve your credit score if you do have negative information on your free credit report, such as late payments, a bankruptcy, public record item or too many inquiries, is to pay your bills on time and wait, as time is the best healer. |
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