The Super Secrets of Credit
The Super Secrets of Credit – Your Personal Credit Report: – How You Can Correct Errors.
People that compile your personal credit reports are human be like me and you, they can make mistakes while compiling your reports from various sources.
Thus, requesting a copy of your report is often very important. It will allow you to know what they compile about you. You will be able to discover unfavorable information, request for corrections before they start spreading inaccurate information about you.
When you get a copy of your personal report, determine the status of your credit file. Study the information in it very well and attempt to remove all unfavorable information in it. All your credit history may not be contained in one file from a firm.
So, if possible, get from other firms too. Some information may be duplicated, or not included in the other file.
You need to note of your full name, social security number, current and previous addresses, spouse’s name, and date of birth and make sure that they are correct because they are points used in identifying you.
Also, make sure that merchants name, credit account number, date opened, date closed, high credit limit, highest amount of credit used, and repayment history are correct, current and accurate.
After studying the file carefully if you notice any error, write out the exact error and the way you think it should be listed. You will find a space on the right-hand side of your report where you may protest any item in your report that you feel is incorrect.
You will have to attach photocopies along with pertinent information to prove your claim and send it to the bureau by mail. When the bureau gets your message, they will investigate and send you the result of their investigation.
You will have to exercise patience during this period because it may take the bureau some time to complete their investigation.
The fact that the agency that compiles or can compile information about you is not one will make it almost impossible for you not to encounter a problem in future.
When you apply for credit in a bank, store or any lending company you may be denied. This does not mean the agency you filed errors on your reports with haven’t make changes, it’s likely that the bank or store you are trying to deal with have another report about you, possibly from another agency.
So anytime that you are denied credit, you have the right to know why you were turned down! If the bank or stores used a credit report agency, they must provide you with the name and address of the agency that supplied them with the report.
Once you have the contact information of the agency involved, you should make an appointment to visit the credit agency, so that you can review your report, find out information that is causing you to be denied credit, and make corrections if you have enough evidence to proof.
When you are visiting the agency make sure that you present yourself very well. You must dress modestly as your appearance will surely tell the agency staff more about you.
If possible, take a friend along with you to be a witness to whatever is said. You have to be very careful when you get to the bureau, don’t let the representative of the credit bureau confuse you with unnecessary terms or even upset you in any way. If there is anything you don’t understand, ask to have it explained again.
Don’t be afraid to demand an explanation where you feel the agency is wrong. If there is any information in the report that is not true, point it out, and have it investigated by the agency.
Once the agency corrects the error you have the right to demand that the bureau send correct copies of your report to all creditors who have received the incorrect reports before.
Regards, Coyalita
Behavioral Health Rehabilitative Specialist & Addiction Counselor
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