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 Even though most of the entries may be accurate, it is possible that you may find false and/or outdated information in these documents.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.
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.
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.
Only you can decide if you will be able to carry out this process on your own behalf. If not, you may consider "Credit Counseling." This also needs to be done very carefully. Avoid those agencies that promise to change your credit almost overnight. It's probably too good to be true. In addition, you may be asked to pay an "upfront" fee and monthly fee. These are also agencies that need to make money. They could be SCAMS.
There are people who can probably give you referrals for honest companies or people who can assist you. People are available who are reputable and will take care of your needs. - 16732
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 Even though most of the entries may be accurate, it is possible that you may find false and/or outdated information in these documents.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.
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.
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.
Only you can decide if you will be able to carry out this process on your own behalf. If not, you may consider "Credit Counseling." This also needs to be done very carefully. Avoid those agencies that promise to change your credit almost overnight. It's probably too good to be true. In addition, you may be asked to pay an "upfront" fee and monthly fee. These are also agencies that need to make money. They could be SCAMS.
There are people who can probably give you referrals for honest companies or people who can assist you. People are available who are reputable and will take care of your needs. - 16732
About the Author:
With unprecedented problems 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.
