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Credit Reporting Tips

Just as it is very upsetting to have the credit bureau issuing you problems of late payment, it is easy to feel like it will take days, or even weeks, for you to get fixed, or at least fixed for awhile. That is often not the case. However, there are a few things you can do to help ensure your credit is as free of problems as possible.

STEP ONE: Get the item up and running quickly. We have to stipulate that it MUST start with ‘Yes’ at the top. Start the process of getting your ‘Visa’ or Master Card in writing already.

STEP TWO: Check the fine print. Are there any problems or errors listed in the item that you need to investigate? Is the amount of money that was charged to the credit reporting service FREE? It could be subject to collection from the reporting service, unless the inaccuracies are corrected within the reporting service.

STEP THREE: Review the information on the credit reporting service. Are there any other errors or omissions listed in the item? Is it verifiable? If there are, which of the following is true?

1. The address for the previous inaccuracy is wrong or is out of date?

2. The type of address on the information on the statement is correct.

3. The day when the inaccuracy was reported is correct, and also shows up as a Sunday, and appears as a Thursday. Doesn’t this mean that the inaccuracy was reported and reported to the system on the same day on which you filed your tax return?

STEP FOUR: Review the listing on the credit reporting service. Does it mention any information such as the source of the inaccuracy? If the information on the listing was provided by a source not part of the credit reporting service, this will not be the cause of the discrepancy.

STEP FIVE: Dispute the error on the form the credit reporting service sends you. You are required to respond in writing to all the errors and to the corrected information on the credit report. Notify the credit reporting service of the result within one day of receiving it.

After you have sent five letters, dispute the errors listed in the listing. You have no access to information that can be changed or deleted. You are allowed two free credit reports a year unless you request for it.

You are required to pay the credit reporting service once for each error, and thirty-five dollars for any other errors. I just received a statement from one of my credit reporting service regarding the inaccuracy of my credit report. Will that make it much worse? I don’t think so. If one day I receive my free copy of my tax statement, I will be very concerned about a possible problem that affects literally me every day.

Be aware of some of the errors that fall under the FCRA. By law, the credit reporting service is required to send me written notification of the correction if there is one. If the information is found to be inaccurate, you have thirty (30) days to respond to the corrected information through the letter. If the error is reported and corrected, you may not be responsible for the costs.

Remember, you have every expectation of satisfaction when you receive the information that you find in a credit report. If any inaccuracy is reported in violation of this, only notify a credit reporting company when the information is found to be true.

How to Dispute Information:
Dispute information in writing on your credit report as required by Federal law.

Credit Reporting Agencies Helping You

It is as easy as buying your cup of coffee, however you really need to start thinking about how you plan to pay for it. In the world of credit report service it seems like credit report agency has a role that all of us would like to play. Credit reporting agencies help you in a myriad of ways and this includes helping you by providing your credit history information to credit decision makers.

A credit reporting agency is one of them. Today, everyone is aware that it is one of the big three credit reporting agencies but with the exception of Bank of America, all of them are going to have one in your financial transactions as well. A credit reporting agency is like all your other credit reporting agencies when you need to repair bad credit. It can be tough as each bureau runs their own little business independently compared to all the one would for credit reports. You can help yourself to free yourself from those big pieces of dust. A credit reporting agency can get you loans from state and local bank to pay for the records and you can also take them out to collect the loan as well as get all the credit for it from the credit reporting agency.