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 is the basis for what we are entitled to see and the rights that we have as consumers with the credit reporting bureaus. Keep in mind that these credit bureaus are private businesses that need to "make a profit." Therefore we have a right to know what their respective reports are saying about us.
Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.
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.
Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the 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. - 16732
The FCRA is the basis for what we are entitled to see and the rights that we have as consumers with the credit reporting bureaus. Keep in mind that these credit bureaus are private businesses that need to "make a profit." Therefore we have a right to know what their respective reports are saying about us.
Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.
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.
Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the 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. - 16732
About the Author:
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