Sep
22
Filed Under Finance | Leave a Comment
Sandra Stammberger asked:
Under the Fair Credit Reporting Act the reporting company and the information provider are responsible for correcting any credit report disputes. However, they must first be made aware that you have credit report disputes. A person can report and correct errors in their credit report by following two easy steps.
Step one is to report your error to the consumer reporting company in writing and make them aware that you have a credit report dispute. Make sure you include all your personal information like your name, address, and a list of each credit report dispute that have. Remember to send your letter by certified mail to prove that you have initiated a credit report dispute. The consumer reporting company will then investigate your credit report disputes and respond in 30 days. If they find there is an error and the credit report dispute can be resolved by correcting it then they will forward the information to the other credit bureaus and your credit report will be revised.
After reviewing your credit report dispute the consumer reporting company may decide that they disagree with the items raised in your credit report dispute and decline to pursue the matter any further. They will send you all of the evidence that they have and the reasons for not pursuing your credit report dispute, along with a copy of your credit report.
Another way to handle a credit report dispute is to contact the particular creditor directly. Again, send the creditor a list of your credit report disputes in writing. Be sure to call your creditor and ask for the specific address of where credit report dispute issues need to be sent to ensure that there is no unnecessary delay in the credit report dispute being investigated. Many companies have a separate address for handling credit report disputes and it can take time for it to be forwarded to the correct address if you do not send it there initially. If you are correct in your credit report dispute and there is an error they will report the error to the credit bureaus and send you notification of the change.
Below is a sample credit report dispute letter :
Date
Your Name
Your Address, City, State, Zip Code
Complaint Department
Name of Company
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following information in my file. I have circled the items I dispute on the attached copy of the report I received.
This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be removed (or request another specific change) to correct the information.
Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please reinvestigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.
Sincerely,
Your name
Enclosures: (List what you are enclosing.)
DARIUS
Under the Fair Credit Reporting Act the reporting company and the information provider are responsible for correcting any credit report disputes. However, they must first be made aware that you have credit report disputes. A person can report and correct errors in their credit report by following two easy steps.
Step one is to report your error to the consumer reporting company in writing and make them aware that you have a credit report dispute. Make sure you include all your personal information like your name, address, and a list of each credit report dispute that have. Remember to send your letter by certified mail to prove that you have initiated a credit report dispute. The consumer reporting company will then investigate your credit report disputes and respond in 30 days. If they find there is an error and the credit report dispute can be resolved by correcting it then they will forward the information to the other credit bureaus and your credit report will be revised.
After reviewing your credit report dispute the consumer reporting company may decide that they disagree with the items raised in your credit report dispute and decline to pursue the matter any further. They will send you all of the evidence that they have and the reasons for not pursuing your credit report dispute, along with a copy of your credit report.
Another way to handle a credit report dispute is to contact the particular creditor directly. Again, send the creditor a list of your credit report disputes in writing. Be sure to call your creditor and ask for the specific address of where credit report dispute issues need to be sent to ensure that there is no unnecessary delay in the credit report dispute being investigated. Many companies have a separate address for handling credit report disputes and it can take time for it to be forwarded to the correct address if you do not send it there initially. If you are correct in your credit report dispute and there is an error they will report the error to the credit bureaus and send you notification of the change.
Below is a sample credit report dispute letter :
Date
Your Name
Your Address, City, State, Zip Code
Complaint Department
Name of Company
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following information in my file. I have circled the items I dispute on the attached copy of the report I received.
This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be removed (or request another specific change) to correct the information.
Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please reinvestigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.
Sincerely,
Your name
Enclosures: (List what you are enclosing.)
DARIUS
Sep
16
Filed Under Finance | Leave a Comment
Tom Tessin asked:
A bad credit report causes your credit score to reflect a negative debt policy. This lower score causes you the inability to buy things that you need or want. You may not deserve this report for a variety of reasons that can be fixed. When you buy an item from a rent-to-own place as an example and you ask for a certain pay day but their computer systems requires you to pay a day or two before this may get reported on your credit report as slow pay. The slow pay often causes your credit score to drop. The manager who operates the local store tells you not to worry he knows that you will be in on a certain day and of course he does not call. The corporate office only knows what is put into the computer which shows your two days late sending off a bad credit report. In order to fix this first, have the local manager contact the main office getting them to put a letter in your report stating that this is the error of the local store for not setting up the right pay date. Secondly, find out how much more you would need to pay in order to have your pay date set up to a new date that fits within your budget to pay. Then do follow up to make sure that you are no longer in the reporting credit agencies as a slow pay.
You might have a bad credit report because of a lay-off in ability to pay for an item in the time period required. Then you should make an agreement with the creditor to pay off the bill asking for an extension of pay or even asking if you pay less would they defer late fees and interest charges. After you made a pay arrangement make sure that a copy of this is put into your credit report. This will help to fix your credit report in order to give you a better score. You should check your credit report periodically to make sure that you are not being charged with a debt that you do not even owe. Often a bad credit score is reflecting a bill that is not yours which gives you a bad credit report.
You will need to immediately start to fix the problem. You can take several steps to clear up the issue but start by putting a letter in the reporting credit bureaus that this is not your bill. Afterwards you will need to get as much information as possible about the bill before you can proceed to get the situation taken from your credit report. It is always advisable to have a good credit report and remember, having a good credit report helps with your future interest rates. Keep up with your credit and make sure your credit report is not a bad one and if a problem arises take steps to fix it so that you will not have a bad credit report.
HUGH
A bad credit report causes your credit score to reflect a negative debt policy. This lower score causes you the inability to buy things that you need or want. You may not deserve this report for a variety of reasons that can be fixed. When you buy an item from a rent-to-own place as an example and you ask for a certain pay day but their computer systems requires you to pay a day or two before this may get reported on your credit report as slow pay. The slow pay often causes your credit score to drop. The manager who operates the local store tells you not to worry he knows that you will be in on a certain day and of course he does not call. The corporate office only knows what is put into the computer which shows your two days late sending off a bad credit report. In order to fix this first, have the local manager contact the main office getting them to put a letter in your report stating that this is the error of the local store for not setting up the right pay date. Secondly, find out how much more you would need to pay in order to have your pay date set up to a new date that fits within your budget to pay. Then do follow up to make sure that you are no longer in the reporting credit agencies as a slow pay.
You might have a bad credit report because of a lay-off in ability to pay for an item in the time period required. Then you should make an agreement with the creditor to pay off the bill asking for an extension of pay or even asking if you pay less would they defer late fees and interest charges. After you made a pay arrangement make sure that a copy of this is put into your credit report. This will help to fix your credit report in order to give you a better score. You should check your credit report periodically to make sure that you are not being charged with a debt that you do not even owe. Often a bad credit score is reflecting a bill that is not yours which gives you a bad credit report.
You will need to immediately start to fix the problem. You can take several steps to clear up the issue but start by putting a letter in the reporting credit bureaus that this is not your bill. Afterwards you will need to get as much information as possible about the bill before you can proceed to get the situation taken from your credit report. It is always advisable to have a good credit report and remember, having a good credit report helps with your future interest rates. Keep up with your credit and make sure your credit report is not a bad one and if a problem arises take steps to fix it so that you will not have a bad credit report.
HUGH
Sep
2
Filed Under Finance | Leave a Comment
Mike Clover asked:
Checking your free credit score report is probably one of the hottest topics these days. With the average American not being rich, and at times in need of a loan, they need to keep there credit score healthy. There will be situations where someone will need to pull your credit report. If you have bad credit, it may not be a good experience for you. There is lots of talk about annualcreditreport, but there is not much talk about not getting your credit score there. Annualcreditreport does provide you with a free credit report from all 3 credit bureaus, but you don’t get your scores. You can get this report once a year for free. A lot can happen to your credit report during a year’s time. Here are some examples.
Inaccurate credit report
Studies show that inaccuracies are common in credit reports and can harm your ability to get loans. Inaccurate information on your credit will cause harm to your credit rating. When your credit rating is jeopardized, so is the ability to get loans, good interest rates, or even that new “Dream Job.” Often there is human error involved in the reporting process. Creditors pay someone to report information about you. At times this information may have been keyed in incorrectly, and as a result your credit score drops.
Identity Theft Protection
Someone’s identity is stolen every 3 seconds. If you think about that, someone could be stealing your identity as you read this article. That is pretty scary. If an identity thief has got your information currently and is out using your credit, how would you ever find out without pulling your credit report? Maybe someone is out opening credit in your name, and charging up stuff. What ever the thief is doing, you are probably not going to find out about it until it’s too late. If you get credit report monitoring services set up, you would get e-mail alerts when critical changes take place to your credit report. Critical changes like someone opening credit in your name and out having a field day with your credit.
Conclusion:
Checking your credit report should not be a scary thing, it should be a positive thing. If you are managing your credit properly, then you will pull your credit in confidence. You will be able to go to creditors and get good interest rate loans with ease. Since a lot can happen to your credit in such a short time, you should get a copy of your free credit score report every 60 to 90 days. Checking your credit report once a year is asking for a disaster, and is total disregard for what is really going on out there Protect yourself by staying on top of your report. I would not wait for it to happen to you, check your free credit score report today.
DONNELL
Checking your free credit score report is probably one of the hottest topics these days. With the average American not being rich, and at times in need of a loan, they need to keep there credit score healthy. There will be situations where someone will need to pull your credit report. If you have bad credit, it may not be a good experience for you. There is lots of talk about annualcreditreport, but there is not much talk about not getting your credit score there. Annualcreditreport does provide you with a free credit report from all 3 credit bureaus, but you don’t get your scores. You can get this report once a year for free. A lot can happen to your credit report during a year’s time. Here are some examples.
Inaccurate credit report
Studies show that inaccuracies are common in credit reports and can harm your ability to get loans. Inaccurate information on your credit will cause harm to your credit rating. When your credit rating is jeopardized, so is the ability to get loans, good interest rates, or even that new “Dream Job.” Often there is human error involved in the reporting process. Creditors pay someone to report information about you. At times this information may have been keyed in incorrectly, and as a result your credit score drops.
Identity Theft Protection
Someone’s identity is stolen every 3 seconds. If you think about that, someone could be stealing your identity as you read this article. That is pretty scary. If an identity thief has got your information currently and is out using your credit, how would you ever find out without pulling your credit report? Maybe someone is out opening credit in your name, and charging up stuff. What ever the thief is doing, you are probably not going to find out about it until it’s too late. If you get credit report monitoring services set up, you would get e-mail alerts when critical changes take place to your credit report. Critical changes like someone opening credit in your name and out having a field day with your credit.
Conclusion:
Checking your credit report should not be a scary thing, it should be a positive thing. If you are managing your credit properly, then you will pull your credit in confidence. You will be able to go to creditors and get good interest rate loans with ease. Since a lot can happen to your credit in such a short time, you should get a copy of your free credit score report every 60 to 90 days. Checking your credit report once a year is asking for a disaster, and is total disregard for what is really going on out there Protect yourself by staying on top of your report. I would not wait for it to happen to you, check your free credit score report today.
DONNELL
Aug
30
Filed Under Finance | Leave a Comment
David Siegel asked:
s world, having a bad credit report may be detrimental. Even though in most cases consumers have brought this upon themselves, in some cases the bad credit report may be caused by a glitch in the credit bureau system. As up to 25% of credit reports have a substantial error that can affect the consumer in getting credit, housing or a job. Although, some may feel helpless against the unperfected credit bureau system, that is far from the truth.
Every person should order a credit report at least once a year, it is free on annualcreditreport.com. This report should be carefully examined for mistakes and biased information. Once a mistake is found the credit bureau should be contacted through certified mail, explaining the mistake. The creditor that reported the information to the bureau should also be contacted by mail, stating the mistake that was found. The Fair Credit Report Act mandates credit bureau to delete all incorrect information that may be on the report. Therefore once the credit bureau receives your letter disputing the mistake within the report, it will investigate the glitch by contacting the creditor and trying to verify the credit report. If the creditor does not respond in time or if he does not verify the information on the original report then the bureau will delete the erroneous information from the report.
Furthermore, if your credit report displays information that you feel is biased towards you, you can add an explanatory note explaining the situation. For example, if you moved to another address while your bills kept coming to your old address, causing impairment to your credit score, you can add a note to your credit report explaining that situation. Just write a note to the bureau explaining that you would like such a note included on the report. Sometimes an easier route to fixing your credit report is by contacting the creditor that reported the problem to your credit bureau and asking them to clear up the glitch, by contacting the bureau.
No matter which approach you take to fixing your credit report you need to make sure that the mistake has been fixed by getting a subsequent credit report. Remember if the credit report gets a letter notifying them of a glitch, they have to investigate it, and if they can’t verify the original report then they have to delete the information. By taking control of your credit report, you can begin to change your financial picture.
GERARD
s world, having a bad credit report may be detrimental. Even though in most cases consumers have brought this upon themselves, in some cases the bad credit report may be caused by a glitch in the credit bureau system. As up to 25% of credit reports have a substantial error that can affect the consumer in getting credit, housing or a job. Although, some may feel helpless against the unperfected credit bureau system, that is far from the truth.
Every person should order a credit report at least once a year, it is free on annualcreditreport.com. This report should be carefully examined for mistakes and biased information. Once a mistake is found the credit bureau should be contacted through certified mail, explaining the mistake. The creditor that reported the information to the bureau should also be contacted by mail, stating the mistake that was found. The Fair Credit Report Act mandates credit bureau to delete all incorrect information that may be on the report. Therefore once the credit bureau receives your letter disputing the mistake within the report, it will investigate the glitch by contacting the creditor and trying to verify the credit report. If the creditor does not respond in time or if he does not verify the information on the original report then the bureau will delete the erroneous information from the report.
Furthermore, if your credit report displays information that you feel is biased towards you, you can add an explanatory note explaining the situation. For example, if you moved to another address while your bills kept coming to your old address, causing impairment to your credit score, you can add a note to your credit report explaining that situation. Just write a note to the bureau explaining that you would like such a note included on the report. Sometimes an easier route to fixing your credit report is by contacting the creditor that reported the problem to your credit bureau and asking them to clear up the glitch, by contacting the bureau.
No matter which approach you take to fixing your credit report you need to make sure that the mistake has been fixed by getting a subsequent credit report. Remember if the credit report gets a letter notifying them of a glitch, they have to investigate it, and if they can’t verify the original report then they have to delete the information. By taking control of your credit report, you can begin to change your financial picture.
GERARD
Jul
10
Filed Under Finance | Leave a Comment
Emanuele Allenti asked:
We have all seen the advertisements on the Internet telling us that we are entitled to free credit reports. But many people want to know if they can get their free credit report without a credit card? In short the answer is no, because if you want to check your free credit report without a credit card, you will be hard pressed to find a company that will be willing to do that.
The reason that you can’t check your free credit report without a credit card is because you need a credit card for the verification process. This then shows that you are who you say you are. Credit cards are a good way to prove your identity and a lot of people from all over the world have a credit card partially for this purpose. But of course you can’t apply for a credit card unless you know your credit score; this then saves you the hassle of possibly getting turned down for a credit card.
If you want a free credit report without a credit card, then there are ways to do this. You can write to one of the credit-reporting agencies with a copy of a recent bill, or a copy of your driving license. You then mail them your request for your free credit report. There is another way to get a free credit report without a credit card and that is by making a telephone call to one of the credit reporting agencies; they will be happy to oblige with your request.
It is almost impossible to get a free credit report without a credit card on the Internet. Credit cards are the only way to prove to these companies that you are who you say you are. But if you are not heavily concerned about your credit score, then you can wait for your annual credit report, which means that you will always get a free credit report without a credit card.
There are hundreds of websites that offer you the opportunity to view your free credit report with no obligations–no obligations, that is, until your 30-day free trial runs out. That is the main problem with these companies; they will let you see your free credit report with no obligations. But if you do not cancel your membership with them before the end of your 30-day free trial, then they will start to charge you for a service that you are no longer using. That is hardly fair, considering you only joined them to view your free credit report with no obligations.
These companies understand that you will want to view your free credit report with no obligations. So that is why they are only offering their customers 30 days free membership. Remember that you must cancel your membership before the 30 days are over, otherwise you will be charged a month’s worth of use. They will always let you know how you can cancel. The information on how to cancel will usually be printed in the small print on the bottom of the webpage; write that information down, so you can become a free member. Then you can check your free credit report with no obligations.
If you want to view your free credit report with no obligations, then you have options. You can check either through the Internet or you can get it through the mail. You can do this by getting in touch with an official credit-reporting company. The best thing about these official credit-reporting companies is that you will receive your free credit report with no obligations and you won’t have to give them your credit card information. Going with an online company for your credit report is a good idea if you need to keep a constant eye on your credit reports, but if you are happy with just your annual report then there is no real reason for you to sign up to one of these credit websites.
FELIPE
We have all seen the advertisements on the Internet telling us that we are entitled to free credit reports. But many people want to know if they can get their free credit report without a credit card? In short the answer is no, because if you want to check your free credit report without a credit card, you will be hard pressed to find a company that will be willing to do that.
The reason that you can’t check your free credit report without a credit card is because you need a credit card for the verification process. This then shows that you are who you say you are. Credit cards are a good way to prove your identity and a lot of people from all over the world have a credit card partially for this purpose. But of course you can’t apply for a credit card unless you know your credit score; this then saves you the hassle of possibly getting turned down for a credit card.
If you want a free credit report without a credit card, then there are ways to do this. You can write to one of the credit-reporting agencies with a copy of a recent bill, or a copy of your driving license. You then mail them your request for your free credit report. There is another way to get a free credit report without a credit card and that is by making a telephone call to one of the credit reporting agencies; they will be happy to oblige with your request.
It is almost impossible to get a free credit report without a credit card on the Internet. Credit cards are the only way to prove to these companies that you are who you say you are. But if you are not heavily concerned about your credit score, then you can wait for your annual credit report, which means that you will always get a free credit report without a credit card.
There are hundreds of websites that offer you the opportunity to view your free credit report with no obligations–no obligations, that is, until your 30-day free trial runs out. That is the main problem with these companies; they will let you see your free credit report with no obligations. But if you do not cancel your membership with them before the end of your 30-day free trial, then they will start to charge you for a service that you are no longer using. That is hardly fair, considering you only joined them to view your free credit report with no obligations.
These companies understand that you will want to view your free credit report with no obligations. So that is why they are only offering their customers 30 days free membership. Remember that you must cancel your membership before the 30 days are over, otherwise you will be charged a month’s worth of use. They will always let you know how you can cancel. The information on how to cancel will usually be printed in the small print on the bottom of the webpage; write that information down, so you can become a free member. Then you can check your free credit report with no obligations.
If you want to view your free credit report with no obligations, then you have options. You can check either through the Internet or you can get it through the mail. You can do this by getting in touch with an official credit-reporting company. The best thing about these official credit-reporting companies is that you will receive your free credit report with no obligations and you won’t have to give them your credit card information. Going with an online company for your credit report is a good idea if you need to keep a constant eye on your credit reports, but if you are happy with just your annual report then there is no real reason for you to sign up to one of these credit websites.
FELIPE
Jul
9
Filed Under Finance | Leave a Comment
Amy Gordon asked:
Personal credit report largely determines your credit worthiness and interest rates that you can qualify for. You can easily get a credit report through government-sanctioned agencies (FTC) and consumer-reporting companies (Equifax, Experian, and TransUnion) that provide free credit reports. These are easily available and even you can get one to know your current financial standing.
A personal credit report contains detailed information about your borrowing and repaying pattern along with few other important details. It contains consumer information i.e. your name, date of birth, employment history and address details.
Credit information – the most significant portion of your credit report since it contains complete information pertaining to your credit accounts, mortgages and other financial transactions. Your payment history and contains record of repayment defaults being made.
A personal credit report shows details of credit enquiries i.e. all the people who have accessed your credit report in past two years. One can even get creditor’s contact information. The phone numbers and mailing address of your previous creditors in case if you need them.
A personal credit report also encloses information about declared bankruptcy, tax liens and judgment fillings. You can easily get hold of a personal credit report and verify your status easily.
If your credit report is blemished one then you can easily improve it and make it impeccable. You can easily improve your credit scores if you scrap off all your debts and repay your loan amount on time without faltering payments. It is a slow and time consuming process but can definitely help you improve your credit scores and financial standing in market.
Getting a personal credit report is not at all a difficult nut to *****! You can easily apply and register yourself online. The online application and processing is very convenient. Moreover these reports are made available for free. Now this is something that should be missed because in today’s time there is hardly anything that comes for free! But do check the reliability of the company that you are applying with.
MAYNARD
Personal credit report largely determines your credit worthiness and interest rates that you can qualify for. You can easily get a credit report through government-sanctioned agencies (FTC) and consumer-reporting companies (Equifax, Experian, and TransUnion) that provide free credit reports. These are easily available and even you can get one to know your current financial standing.
A personal credit report contains detailed information about your borrowing and repaying pattern along with few other important details. It contains consumer information i.e. your name, date of birth, employment history and address details.
Credit information – the most significant portion of your credit report since it contains complete information pertaining to your credit accounts, mortgages and other financial transactions. Your payment history and contains record of repayment defaults being made.
A personal credit report shows details of credit enquiries i.e. all the people who have accessed your credit report in past two years. One can even get creditor’s contact information. The phone numbers and mailing address of your previous creditors in case if you need them.
A personal credit report also encloses information about declared bankruptcy, tax liens and judgment fillings. You can easily get hold of a personal credit report and verify your status easily.
If your credit report is blemished one then you can easily improve it and make it impeccable. You can easily improve your credit scores if you scrap off all your debts and repay your loan amount on time without faltering payments. It is a slow and time consuming process but can definitely help you improve your credit scores and financial standing in market.
Getting a personal credit report is not at all a difficult nut to *****! You can easily apply and register yourself online. The online application and processing is very convenient. Moreover these reports are made available for free. Now this is something that should be missed because in today’s time there is hardly anything that comes for free! But do check the reliability of the company that you are applying with.
MAYNARD
Jul
4
Filed Under Finance | Leave a Comment
Mike Trudeau asked:
You’ve probably seen the many advertisements that promise, a free credit report. You may have asked yourself, how is it possible for all these companies to offer these attractive free services? The answer is, like a lot of things; there is a catch. The catch, of course, isn’t an obvious one, when it comes time to sign up for a free credit report. What many of these unscrupulous companies do is they get you signed up for a free credit report first. Many consumers are finding out the hard way that they have been taken with things like recurring billing and the like. This is how a large number of companies offering free credit reports make their money.
Fortunately, there is a solution to this. Due to numerous consumer complaints the government has provided a resource that allows you to get a truly free credit report. By going to annualcreditreport dot com you can get a free credit report, thanks to our government. The only drawback, however, is that you can only get one free credit report once a year from each of the three credit reporting bureaus.
So, you may be asking, why is it important first time home buyer to get a free credit report? Your credit report shows a complete history of your credit. In some cases, this is gratifying, and others it is disturbing. Regardless of how great you think your credit is it’s always a good idea to check your credit. With identity theft on the rise, checking your credit regularly is more importance than ever. Getting a free credit report, the right way, doesn’t cost you a thing. What it does for you is allow you to see if there are any issues on your credit history. This can be particularly important for the first time home buyer. If you have unresolved issues looming on your credit report it could negatively affect your credit score, resulting in a higher mortgage rate. And assuming that getting the lowest rate on your mortgage is important, you’ll want to make sure your credit is squeaky clean.
It is not at all uncommon for individuals to find mistakes on their credit report. These mistakes can be cleared up, relatively easily with your creditors. You may have an unresolved bill that’s holding your credit down. Even the smallest of unpaid bills can have a negative affect on your credit. All these things can go unresolved if you’re not on top or credit report. Discovering these issues helps in the process of improving your credit so that you get the lowest interest rate possible on your home loan.
Things are hard enough the first time home buyer. You have to come up with a large down payment. You have two get approved for a loan. You have to cover closing costs. The list goes on. Getting your credit straightened out is one of the easiest ways to get on track for the first time home buyer.
After you make sure you have no credit issues, or you get any unresolved issues straightened out, you’ve taken the all-important first step. There are many first time home buyer programs available. Some allow for lower down payments or lower interest rates when it comes to buying your first home. You can withdraw money from qualified plans early if you’re a first time home buyer. There are even some grants in specific states available. Do some homework and be sure to take advantage of these programs, it can save you substantially. And with the cost of real estate, and just how hard it is to be a first time home buyer, you’ll need every advantage you can get.
RICKY
You’ve probably seen the many advertisements that promise, a free credit report. You may have asked yourself, how is it possible for all these companies to offer these attractive free services? The answer is, like a lot of things; there is a catch. The catch, of course, isn’t an obvious one, when it comes time to sign up for a free credit report. What many of these unscrupulous companies do is they get you signed up for a free credit report first. Many consumers are finding out the hard way that they have been taken with things like recurring billing and the like. This is how a large number of companies offering free credit reports make their money.
Fortunately, there is a solution to this. Due to numerous consumer complaints the government has provided a resource that allows you to get a truly free credit report. By going to annualcreditreport dot com you can get a free credit report, thanks to our government. The only drawback, however, is that you can only get one free credit report once a year from each of the three credit reporting bureaus.
So, you may be asking, why is it important first time home buyer to get a free credit report? Your credit report shows a complete history of your credit. In some cases, this is gratifying, and others it is disturbing. Regardless of how great you think your credit is it’s always a good idea to check your credit. With identity theft on the rise, checking your credit regularly is more importance than ever. Getting a free credit report, the right way, doesn’t cost you a thing. What it does for you is allow you to see if there are any issues on your credit history. This can be particularly important for the first time home buyer. If you have unresolved issues looming on your credit report it could negatively affect your credit score, resulting in a higher mortgage rate. And assuming that getting the lowest rate on your mortgage is important, you’ll want to make sure your credit is squeaky clean.
It is not at all uncommon for individuals to find mistakes on their credit report. These mistakes can be cleared up, relatively easily with your creditors. You may have an unresolved bill that’s holding your credit down. Even the smallest of unpaid bills can have a negative affect on your credit. All these things can go unresolved if you’re not on top or credit report. Discovering these issues helps in the process of improving your credit so that you get the lowest interest rate possible on your home loan.
Things are hard enough the first time home buyer. You have to come up with a large down payment. You have two get approved for a loan. You have to cover closing costs. The list goes on. Getting your credit straightened out is one of the easiest ways to get on track for the first time home buyer.
After you make sure you have no credit issues, or you get any unresolved issues straightened out, you’ve taken the all-important first step. There are many first time home buyer programs available. Some allow for lower down payments or lower interest rates when it comes to buying your first home. You can withdraw money from qualified plans early if you’re a first time home buyer. There are even some grants in specific states available. Do some homework and be sure to take advantage of these programs, it can save you substantially. And with the cost of real estate, and just how hard it is to be a first time home buyer, you’ll need every advantage you can get.
RICKY
Jun
28
Filed Under Finance | Leave a Comment
Robert F. Brennan, Esq. asked:
The Federal Credit Reporting Act ["FCRA"] makes it mandatory for Credit Reporting Agencies such as Experian, Equifax and Trans Union “to follow reasonable procedures to assure maximum possible accuracy of the information in the [consumer's credit] report….” A willful and negligent failure to do so is violation number 1 of the FCRA. One wonders then when in fact it turns out that certain Credit Reporting Agency ["CRA"] procedures, or lack thereof, assure maximum possible inaccuracy of information in the consumer’s credit report. Are we to take it that the words of a federal law mean exactly the opposite of what they say? Legally, philosophically, morally, one would think not.
A “trade line” on your credit report provides certain standard items of information about an account you have, such as the name of the company ( say a department store, for example), the company’s address, the account number, the current balance on the account, the terms of the credit, and so forth. Any of this information could in fact turn out to be incorrect, but the item of information we will address in this article is that definite and critical identifier for the CRAs, the account number.
One would think that such a mundane piece of information as an account number couldn’t possibly cause that much trouble, and in a sense that is true. What actually causes the problem is when the account number for the same account gets changed, and sometimes morphed repeatedly, so that the identity of the actual account is greatly obscured. When this is allowed to happen, the CRAs’ super computers, employing simple logic but lacking intelligence, assume that an account is the same, or a match, when it has the same account number, and that it is different when it does not. Therein can lie the source of much headache, aggravation and damages for a consumer, and much denial of responsibility from the CRAs.
A example would be helpful here to illustrate. Let us say that Consumer A is receiving bills for a $600.00 balance on a department store credit card. Consumer A never applied for such a card and therefore the debt cannot be his. He suspects someone stole his identity and opened the account using his social security number and other private information. After numerous phone calls and letters back and forth, the department store agrees that it is not Consumer A’s debt after all and tells Consumer A not to worry about it, that they’ll “take care of it”. Naturally, Consumer A is now relieved and assumes that it will be “taken care of”, i..e., they will stop billing him for the invalid debt and it will be deleted from his credit report. The account number, by the way — let us say it is 1234567890 and that is the way the CRAs are reporting it on Consumer A’s credit reports. Consumer A notifies the CRAs by certified mail of the situation, along with documentation, and they all delete the previously reported trade line within a month.
About four months go by and Consumer A is dismayed to receive in the mail a letter from a Debt Collection Company named “Pit Bull”. Pit Bull, in its letter, states that it is collecting a debt on behalf of the department store (the same one that earlier told Consumer A not to worry about it, that they would take care of it and delete it from
his credit report.) Pit Bull shows the debt now as $850, having tacked on a $50 penalty and a $200 “default charge” or attorney’s fees), but informs Consumer A that, although he owes immediately the full amount of $850, they will take $450 as a full payment. They can’t guarantee Consumer A that the department store will reinstate him in good graces vis-à-vis his credit card (the one that was never his in the first place) but if he pays them the $450 at least they will stop dunning him. The account number on the letter is now 123DEPTSTRE890. A few months later Pit Bull furnishes the account 1234567890 as 123DEPTSTRE890 to the CRAs, showing the account as a “charge off”, amount $850, and a note that the trade line will be reported for the next seven years!
Consumer A is now distraught. He calls the department store and reiterates his story that the department store had earlier investigated, agreed with him that he did not owe the debt and that “they would take care of it” for him. These words come back to haunt Consumer A as the representative now tells him that they are sorry, the account is now with collections, and that they cannot interfere as it is now out of their hands. Consumer A also tries to clarify the situation with Pit Bull but, other than being cursed at and told to “pay the damn bill”, he gets nowhere. He disputes with the CRAs with certified letters, giving a full account of the situation and a statement that he categorically does not, and never did, owe the debt. Two of the three CRAs shortly thereafter delete the trade line from Consumer A’s report, but one of them does not. That one informs our consumer that they checked with the furnisher (Pit Bull) and the furnisher “verified” with them that the information they provided on the debt was valid.
Some more months pass and Consumer A starts feeling frantic. He tries to get refinancing on his home but is told he’ll have to clear up the derogatory trade line showing on one of his credit reports as a first step. He is also denied credit on a couple occasions which he suspects resulted from the same derogatory reporting.
Consumer A starts religiously checking his credit report, and discovers that now the account is being furnished by another collection company, Viper, Inc., and the account number has changed again, this time to “732******”. Our consumer becomes by this point very discouraged. He tries communicating with Viper, Inc. but they are just as nasty and, if anything, more venomous than Pit Bull.
At this point Consumer A finds an attorney firm that will take his case and initiate a lawsuit on his behalf. Among other things, the Complaint accuses the remaining CRA of a “reinsertion violation”. What the CRA had done in this example was “willfully and negligently violated the reinsertion requirements of 15 U.S.C. Section 1681i(a)(5)(B) in reinserting derogatory information onto plaintiff’s credit report after he had previously disputed it, without certification or notice.” (Even though the account number kept changing, it was still the same account being referred to all along. The CRA in question deleted, then reinserted the same account without notifying Consumer A, a no-no.)
After the account is deleted and then reinserted, the CRA fails to notify Consumer A within 5 business days that they are re-inserting the account information. The ironic twist to all this is that the CRA then argues that the “reinsertion” of the account was not their fault because it had a different account number, and how are they supposed to know that it was the same account?
How, indeed! It was the CRA’s own regulations, or lack thereof, that allowed the reinsertion to occur. The CRA argued that if they had known it was the same account, then they wouldn’t have reinserted it, and yet the CRA is the one who allowed Pit Bull, and Viper, Inc., and whichever entities came afterwards, to keep changing the account number on the same account; in short, in effectively disguising it from the CRA’s computer which only matches identities, not similarities or differences.
It is bad enough that the CRAs frequently take the word of disreputable or highly questionable collection entities over that of disputing consumers (See earlier article, The Seamier Side of the Credit Reporting Business) it is unconscionable that the CRAs allow collection entities to in effect cloak the identity of accounts even from themselves, the CRAs, and then blame it on the same system that they helped create! This bungling would be laughable if it didn’t happen to cause consumers so much frustration and pain.
HUGH
The Federal Credit Reporting Act ["FCRA"] makes it mandatory for Credit Reporting Agencies such as Experian, Equifax and Trans Union “to follow reasonable procedures to assure maximum possible accuracy of the information in the [consumer's credit] report….” A willful and negligent failure to do so is violation number 1 of the FCRA. One wonders then when in fact it turns out that certain Credit Reporting Agency ["CRA"] procedures, or lack thereof, assure maximum possible inaccuracy of information in the consumer’s credit report. Are we to take it that the words of a federal law mean exactly the opposite of what they say? Legally, philosophically, morally, one would think not.
A “trade line” on your credit report provides certain standard items of information about an account you have, such as the name of the company ( say a department store, for example), the company’s address, the account number, the current balance on the account, the terms of the credit, and so forth. Any of this information could in fact turn out to be incorrect, but the item of information we will address in this article is that definite and critical identifier for the CRAs, the account number.
One would think that such a mundane piece of information as an account number couldn’t possibly cause that much trouble, and in a sense that is true. What actually causes the problem is when the account number for the same account gets changed, and sometimes morphed repeatedly, so that the identity of the actual account is greatly obscured. When this is allowed to happen, the CRAs’ super computers, employing simple logic but lacking intelligence, assume that an account is the same, or a match, when it has the same account number, and that it is different when it does not. Therein can lie the source of much headache, aggravation and damages for a consumer, and much denial of responsibility from the CRAs.
A example would be helpful here to illustrate. Let us say that Consumer A is receiving bills for a $600.00 balance on a department store credit card. Consumer A never applied for such a card and therefore the debt cannot be his. He suspects someone stole his identity and opened the account using his social security number and other private information. After numerous phone calls and letters back and forth, the department store agrees that it is not Consumer A’s debt after all and tells Consumer A not to worry about it, that they’ll “take care of it”. Naturally, Consumer A is now relieved and assumes that it will be “taken care of”, i..e., they will stop billing him for the invalid debt and it will be deleted from his credit report. The account number, by the way — let us say it is 1234567890 and that is the way the CRAs are reporting it on Consumer A’s credit reports. Consumer A notifies the CRAs by certified mail of the situation, along with documentation, and they all delete the previously reported trade line within a month.
About four months go by and Consumer A is dismayed to receive in the mail a letter from a Debt Collection Company named “Pit Bull”. Pit Bull, in its letter, states that it is collecting a debt on behalf of the department store (the same one that earlier told Consumer A not to worry about it, that they would take care of it and delete it from
his credit report.) Pit Bull shows the debt now as $850, having tacked on a $50 penalty and a $200 “default charge” or attorney’s fees), but informs Consumer A that, although he owes immediately the full amount of $850, they will take $450 as a full payment. They can’t guarantee Consumer A that the department store will reinstate him in good graces vis-à-vis his credit card (the one that was never his in the first place) but if he pays them the $450 at least they will stop dunning him. The account number on the letter is now 123DEPTSTRE890. A few months later Pit Bull furnishes the account 1234567890 as 123DEPTSTRE890 to the CRAs, showing the account as a “charge off”, amount $850, and a note that the trade line will be reported for the next seven years!
Consumer A is now distraught. He calls the department store and reiterates his story that the department store had earlier investigated, agreed with him that he did not owe the debt and that “they would take care of it” for him. These words come back to haunt Consumer A as the representative now tells him that they are sorry, the account is now with collections, and that they cannot interfere as it is now out of their hands. Consumer A also tries to clarify the situation with Pit Bull but, other than being cursed at and told to “pay the damn bill”, he gets nowhere. He disputes with the CRAs with certified letters, giving a full account of the situation and a statement that he categorically does not, and never did, owe the debt. Two of the three CRAs shortly thereafter delete the trade line from Consumer A’s report, but one of them does not. That one informs our consumer that they checked with the furnisher (Pit Bull) and the furnisher “verified” with them that the information they provided on the debt was valid.
Some more months pass and Consumer A starts feeling frantic. He tries to get refinancing on his home but is told he’ll have to clear up the derogatory trade line showing on one of his credit reports as a first step. He is also denied credit on a couple occasions which he suspects resulted from the same derogatory reporting.
Consumer A starts religiously checking his credit report, and discovers that now the account is being furnished by another collection company, Viper, Inc., and the account number has changed again, this time to “732******”. Our consumer becomes by this point very discouraged. He tries communicating with Viper, Inc. but they are just as nasty and, if anything, more venomous than Pit Bull.
At this point Consumer A finds an attorney firm that will take his case and initiate a lawsuit on his behalf. Among other things, the Complaint accuses the remaining CRA of a “reinsertion violation”. What the CRA had done in this example was “willfully and negligently violated the reinsertion requirements of 15 U.S.C. Section 1681i(a)(5)(B) in reinserting derogatory information onto plaintiff’s credit report after he had previously disputed it, without certification or notice.” (Even though the account number kept changing, it was still the same account being referred to all along. The CRA in question deleted, then reinserted the same account without notifying Consumer A, a no-no.)
After the account is deleted and then reinserted, the CRA fails to notify Consumer A within 5 business days that they are re-inserting the account information. The ironic twist to all this is that the CRA then argues that the “reinsertion” of the account was not their fault because it had a different account number, and how are they supposed to know that it was the same account?
How, indeed! It was the CRA’s own regulations, or lack thereof, that allowed the reinsertion to occur. The CRA argued that if they had known it was the same account, then they wouldn’t have reinserted it, and yet the CRA is the one who allowed Pit Bull, and Viper, Inc., and whichever entities came afterwards, to keep changing the account number on the same account; in short, in effectively disguising it from the CRA’s computer which only matches identities, not similarities or differences.
It is bad enough that the CRAs frequently take the word of disreputable or highly questionable collection entities over that of disputing consumers (See earlier article, The Seamier Side of the Credit Reporting Business) it is unconscionable that the CRAs allow collection entities to in effect cloak the identity of accounts even from themselves, the CRAs, and then blame it on the same system that they helped create! This bungling would be laughable if it didn’t happen to cause consumers so much frustration and pain.
HUGH
Jun
8
Filed Under Finance | Leave a Comment
Mike Clover asked:
You cannot erase the past credit report issues for usually 7-10 years. With a little work you can rebuild your credit report before all negative information is set to expire. Here is five easy steps to rebuild your credit report.
Step 1: Examine the Damage
The first step in fixing past mistakes is to get a current coy of your free credit score report. Don’t be scared, got ahead and take the plunge order all three credit reports with all 3 credit scores. Ordering your credit report is actually easy and secure on-line. Contrary to popular belief ordering your own credit report does not affect your credit score.
Once you have pulled your report print it out and highlight all information that is incorrect. Make sure you understand everything on it.
Step 2: Check the expiration dates
The current law states that negative information will stay on your credit report for 7-10 years from collection date. The expiration date will vary depending on the type of collection. When you pay off a collection that does not mean it will be removed from your report.
Examine your report and determine when each collection is set to expire. Once these collections are set to expire you will see major improvement to your score.
Step 3: Dispute errors
If you find inaccurate information such as, fraudulent information, collections that expired still reporting, you have the right to dispute. You will have to dispute each of the 3 credit bureaus separately, Equifax, Experian and TransUnion.Once you the bureaus have received your dispute they have 30 days to determine whether they will update information requested.
Don’t dispute good credit on your report, accurate information cannot be removed from your credit report and is a waste of time. Disputing accurate information could harm your credit.
Step 4: Add positive credit
Now that you have disputed information that is not correct and have hopefully got it removed or update you can begin to add positive credit to your report. The quickest way to do this is to get a Orchard bank secured credit card. This credit card is designed to rebuild credit even for people that just got out of a bankruptcy. Make sure you use this card responsibly. Also avoid going applying for to lots of credit, you really need a couple of secured credit cards to start establishing good credit.
Step 5: Monitor your progress
It is very simple to monitor your progress of increasing your creditworthiness these days with credit report monitoring services. You can sign up for credit reporting monitoring services that will allow you to monitor your credit score, get key changes e-mailed to you, along with access to your credit report. Your credit score will improve over time as you add positive information to your report.
TIM
You cannot erase the past credit report issues for usually 7-10 years. With a little work you can rebuild your credit report before all negative information is set to expire. Here is five easy steps to rebuild your credit report.
Step 1: Examine the Damage
The first step in fixing past mistakes is to get a current coy of your free credit score report. Don’t be scared, got ahead and take the plunge order all three credit reports with all 3 credit scores. Ordering your credit report is actually easy and secure on-line. Contrary to popular belief ordering your own credit report does not affect your credit score.
Once you have pulled your report print it out and highlight all information that is incorrect. Make sure you understand everything on it.
Step 2: Check the expiration dates
The current law states that negative information will stay on your credit report for 7-10 years from collection date. The expiration date will vary depending on the type of collection. When you pay off a collection that does not mean it will be removed from your report.
Examine your report and determine when each collection is set to expire. Once these collections are set to expire you will see major improvement to your score.
Step 3: Dispute errors
If you find inaccurate information such as, fraudulent information, collections that expired still reporting, you have the right to dispute. You will have to dispute each of the 3 credit bureaus separately, Equifax, Experian and TransUnion.Once you the bureaus have received your dispute they have 30 days to determine whether they will update information requested.
Don’t dispute good credit on your report, accurate information cannot be removed from your credit report and is a waste of time. Disputing accurate information could harm your credit.
Step 4: Add positive credit
Now that you have disputed information that is not correct and have hopefully got it removed or update you can begin to add positive credit to your report. The quickest way to do this is to get a Orchard bank secured credit card. This credit card is designed to rebuild credit even for people that just got out of a bankruptcy. Make sure you use this card responsibly. Also avoid going applying for to lots of credit, you really need a couple of secured credit cards to start establishing good credit.
Step 5: Monitor your progress
It is very simple to monitor your progress of increasing your creditworthiness these days with credit report monitoring services. You can sign up for credit reporting monitoring services that will allow you to monitor your credit score, get key changes e-mailed to you, along with access to your credit report. Your credit score will improve over time as you add positive information to your report.
TIM
May
29
Filed Under Finance | Leave a Comment
Emanuele Allenti asked:
The ability to see your own credit report for free has taken America by storm. Many companies are overwhelmed with the amount of people requesting to view their credit report. A free online Experian credit report might be the way to go. Getting your free online Experian credit report is very simple. You just enter your details and within a few clicks of your mouse, you will be viewing your own free online Experian credit report.
If you want to use the free online Experian credit report, then you have to be aware of the charges that will occur if you do not cancel your online membership. Once you have signed up and used the free online Experian credit report, then you will have 30 days to cancel your membership if you do not want to use the service anymore. Otherwise you will be charged monthly on your credit card. A free online Experian credit report is a great way to check your credit rating from home. Also, if you are with Experian, then you know that you are with a very respected company that will always look after your needs. Experian (formally known as TRW) is a credit-reporting agency, which means that they have a lot to live up to. They always meet their customers’ needs and they have a very professional website; they know what people want when they request their credit report, and they know how to deliver something special.
The service offered by Experian is virtually unmatched by others. It seems that the only benefit that the other companies can offer you is that they can show you all 3-credit reports at once, including Experian, Equifax, and TransUnion. But Experian offers quality customer service as well as an easy to navigate website. The choice is yours.
A credit report score from TransUnion is a great way to get an up-to-date and accurate credit report. You know that you can trust your credit report score from TransUnion; this company is one of the three major credit-reporting agencies and will always have your name on their files. You can get your credit report score from TransUnion while surfing the web. Their website is easy to navigate and you can become a member within minutes. You can then pull up your credit report score from TransUnion on your computer screen within a matter of minutes.
You might find one day that your credit report score from TransUnion is different from a different company. You can then query this mistake and have it sorted out for you in a couple of days. Isn’t it better to find out this kind of mistake sooner rather than later? With the TransUnion website, you can get your credit report score from all three major credit-reporting agencies. This allows you the chance to compare and see if there are any errors that might appear. If there are, then you can get in touch with either on of the companies and inform them of the error on your statement. We all know that one small error can cause you a lot of problems, such as being turned down for credit. So it is best to always keep up to date with your credit reports.
A credit report score from TransUnion will let you know your chances of getting accepted for credit. You can just switch on your computer have a glance at your credit score and know if you will be accepted or not. If you want to keep your credit rating in a good standing, then you will need to keep up to date with any payments that could bring it down. Once you are out of the red, you will never want to go back.
DOMINIQUE
The ability to see your own credit report for free has taken America by storm. Many companies are overwhelmed with the amount of people requesting to view their credit report. A free online Experian credit report might be the way to go. Getting your free online Experian credit report is very simple. You just enter your details and within a few clicks of your mouse, you will be viewing your own free online Experian credit report.
If you want to use the free online Experian credit report, then you have to be aware of the charges that will occur if you do not cancel your online membership. Once you have signed up and used the free online Experian credit report, then you will have 30 days to cancel your membership if you do not want to use the service anymore. Otherwise you will be charged monthly on your credit card. A free online Experian credit report is a great way to check your credit rating from home. Also, if you are with Experian, then you know that you are with a very respected company that will always look after your needs. Experian (formally known as TRW) is a credit-reporting agency, which means that they have a lot to live up to. They always meet their customers’ needs and they have a very professional website; they know what people want when they request their credit report, and they know how to deliver something special.
The service offered by Experian is virtually unmatched by others. It seems that the only benefit that the other companies can offer you is that they can show you all 3-credit reports at once, including Experian, Equifax, and TransUnion. But Experian offers quality customer service as well as an easy to navigate website. The choice is yours.
A credit report score from TransUnion is a great way to get an up-to-date and accurate credit report. You know that you can trust your credit report score from TransUnion; this company is one of the three major credit-reporting agencies and will always have your name on their files. You can get your credit report score from TransUnion while surfing the web. Their website is easy to navigate and you can become a member within minutes. You can then pull up your credit report score from TransUnion on your computer screen within a matter of minutes.
You might find one day that your credit report score from TransUnion is different from a different company. You can then query this mistake and have it sorted out for you in a couple of days. Isn’t it better to find out this kind of mistake sooner rather than later? With the TransUnion website, you can get your credit report score from all three major credit-reporting agencies. This allows you the chance to compare and see if there are any errors that might appear. If there are, then you can get in touch with either on of the companies and inform them of the error on your statement. We all know that one small error can cause you a lot of problems, such as being turned down for credit. So it is best to always keep up to date with your credit reports.
A credit report score from TransUnion will let you know your chances of getting accepted for credit. You can just switch on your computer have a glance at your credit score and know if you will be accepted or not. If you want to keep your credit rating in a good standing, then you will need to keep up to date with any payments that could bring it down. Once you are out of the red, you will never want to go back.
DOMINIQUE