Posts Tagged ‘credit repair’

Report Credit Repair Fraud

December 13th, 2016 by eldecoin under credit repair, credit report

State Attorney General

Several states have laws that regulate credit repair companies. If you have a problem with a credit repair company, report it to the local consumer affairs office or your state Attorney General’s office.

Federal Trade Commission (FTC)

You may also file a complaint with the Federal Trade Commission. Although the FTC can not resolve individual disputes related to credit issues, it can take action against a company when it presents a repeated pattern of possible violations of the law. File a complaint online at FTC.gov/queja or call 1-877-FTC-HELP.

Where to get legitimate help

Having a poor credit report does not mean that you have no chance of getting credit. Companies that provide credit establish their own standards and not all analyze their credit history in the same way. Some lenders may evaluate your case concentrating only in the last few years, and if you have improved the level of payment compliance of your bills, they could give you credit. It is worth communicating informally with the credit grantors to discuss the criteria and standards they apply to extend credit.

If you are not disciplined enough to make and fulfill a budget, or try to establish a repayment plan with your creditors, or if you are unable to control your growing stack of bills, you may consider contacting an advisory organization Credit. There are several credit counseling organizations that operate as non-profit entities and will work with you to resolve your financial problems. But keep in mind that “non-profit” does not always mean that you will receive free services, at an affordable or even legitimate cost. In fact, some credit counseling organizations – even some that say they operate non-profit – can charge high fees or hide their charges by pushing consumers to make “voluntary” contributions that will only increase their level of indebtedness.

Most credit counselors offer services in local offices, on the internet or by telephone. If possible, try to find an organization that offers advisory services in person. There are several universities, military bases, credit unions, housing authorities and branches of the US Cooperative Extension Service. (U.S. Cooperative Extension Service) operating nonprofit credit counseling programs. Your local bank or financial institution, local consumer protection agency and your friends and family can also be a good source of information and referrals.

If you are considering filing for bankruptcy, keep in mind that applicable bankruptcy laws state that you must receive credit counseling from a government-approved organization within six months of filing your bankruptcy filing. At www.usdoj.gov/ust, the US U.S. (U.S. Trustee Program), you can access a list of government-approved organizations in each state. This organization, reporting to the US Department of Justice, oversees bankruptcy cases and bankruptcy trustees. Be wary of credit counseling organizations that tell you that they are approved by the government but are not on the list of approved organizations.

Reputable credit counseling organizations can advise you on how to manage your money and your debts, help you budget, and provide educational materials and workshops on this topic. The counselors of these organizations are certified and trained in areas of consumer credit, money and debt management, and budgeting. Counselors will talk with you to address your overall financial situation, and can help you develop a customized plan to solve your money problems. Typically, an initial counseling session lasts about an hour and, if desired, you can attend other follow-up sessions.

Disputing errors in credit reports

September 9th, 2015 by eldecoin under Uncategorized

Your credit report contains information about where you live, how you pay your bills, whether you’ve been sued, arrested or filed for bankruptcy. The reporting companies will sell consumer information in your credit report to credit grantors, insurers, employers, and other businesses that use this information to evaluate your applications for credit, insurance, employment or renting a home. The federal Act Fair Credit Reporting promotes the accuracy and privacy of information in the records of the reporting companies consumers.

Some financial advisers and organizations that advocate on behalf of consumers recommend checking your credit report regularly. The reasons?

Because the information contained in your credit report affects your chances of getting a loan – and how much you pay for borrowing money.

So before you apply for a loan to make a large purchase such as a house or car, buy insurance or apply for a job, you can make sure the information in your report is accurate and complete and updated.

To help protect against identity theft, which occurs when someone uses your personal information – such as your name, Social Security number or credit card number – to commit fraud. Identity thieves may use your information to open a new
credit card account in your name. Then when they do not pay the bills, the delinquent account is reported on your credit report. This type of inaccurate information could affect your ability to obtain credit, insurance or employment.

How to order your free report

Act Fair Credit Reporting requires that, upon request, each of the reporting companies consumers around the country – Equifax, Experian and TransUnion – to provide every 12 months a free copy of your credit report.

The three companies reporting consumers nationwide have established a Web site, a toll-free access and a mailing address through which you can order your free annual credit report. To request your credit report, visit annualcreditreport.com (in English), call 1-877-322-8228 or complete the Annual Credit Report Request called Form (in English) and mail to:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

The form must be completed in English and in the back of this brochure; if you wish, you can print it from ftc.gov/credito. Do not contact individually with each of the three reporting companies nationwide consumer.

You can request your credit report from all three reporting companies nationwide consumer at the same time, or you can ask only one or two companies. Act Fair Credit Reporting gcredit-dispute-repairives you the right to request a free copy to each of the reporting companies every 12 months consumers.

To order your report, you need to provide your name, address, Social Security number and birth date. If you have moved during the last two years, you may have to provide your previous address. In order to maintain the security of registration, each company reports the consumers may ask for some information that only you would know, such as the monthly mortgage payment. Each company may ask you for different information because the information in your file may come from different sources.

Other situations that may give right to a free report

You are also entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance or employment, and this refusal is based on information in your credit report. You must request your report within 60 days from the date of receipt of the notification of adverse action. In the notice will state the name, address and telephone number of the company’s consumer reports.

You are also entitled to one free report if you are unemployed and plan to look for a job within 60 days; if you are on public assistance; or if your report is inaccurate because of fraud, such as the identity theft.

Otherwise, one reporting company may charge consumers up to $ 11.00 per each additional credit report requested within 12 months. To purchase a copy of your report, please contact with:

Experian: 1-888-397-3742
www.experian.com

TransUnion: 1-800-916-8800
www.transunion.com

Equifax: 1-800-685-1111
www.equifax.com

How to fix bugs

According to the provisions of the Act Fair Credit Reporting both the reporting company consumers and the information provider (that is the person, company or organization that provides information about you to the reporting company) are responsible for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact the reporting company and consumer information provider.

First step

Communicate in writing to the company reporting consumers what information you believe is inaccurate. Use this sample letter. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each of the recorded data in your report that you dispute or question, describe the facts and explain why you dispute the information and request the correction or deletion data. Along with your letter, you can include a copy of your report with the data questioned circled. Send your letter by certified mail, “return receipt” so you can document the receipt thereof. Keep copies of your dispute letter and all documents attached.

Reporting companies must investigate consumer data in question – usually within 30 days – unless they consider your dispute is unfounded. They should also refer to the information provider all relevant data you provide about the inaccuracy of the data recorded. After the information provider receives notice from the company notifying the consumer reporting the dispute, it must be investigated, you should review all relevant information provided by the reporting company and finally to inform consumers results revision of the reporting company consumers. If the information provider finds the disputed information is inaccurate, it must notify all three reporting companies nationwide consumer so they can correct this information in your records.

Upon completion of the investigation, the reporting company must inform consumers in writing the results and provide a free copy of your report if due to the presentation of their dispute any change was made in his report. This free report is not considered as free annual report they are entitled to all consumers. If an item is changed or removed, the reporting company can not put consumers back the information in your file unless the information provider verifies that it is accurate and complete. The company reports consumers should also give you a written notice in which the name, address and telephone number of the information provider is included.

If you request, the reporting company must send notices consumers of all corrections to anyone who received your report in the past six months. For employment purposes, you may request copies of your corrected those who had received a copy of your report within the last two years are sent registration.

If after the investigation carried out not resolve your dispute, you can ask the company to consumer reporting to include in its registry and in future reports a statement to express their dispute. You can also ask the company reports consumers to submit its statement on the dispute to those who had received a copy of his report last year. You may have to pay a fee for this service you provide.

Second step

Write to the creditor or other information provider notifying that you dispute an item. Use this sample letter. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes forward. If the provider reports the company information to a consumer reporting you must include a notice of your dispute. And if you’re right – it means, if it is discovered that the information is inaccurate – the information provider may not report it again.

If the information provider continues to report the data in question to the credit reporting company, you have to let the company know credit reporting on the dispute. And if it turns out you’re right – mean that found that the disputed information was incorrect or incomplete – information provider has to tell the credit reporting company to change or delete the data.

Registration

It is possible that your credit report does not reflect all your credit accounts. Although most accounts department stores across the country and accounts for all credit cards issued by banks in order to be included in your registration, not all institutions provide information that credit reporting companies to consumers Some local merchants, credit unions and travel companies, entertainment, retail gasoline cards do not.

When negative information in your report is accurate, only the passage of time can assure its removal. A reporting company consumers can report most accurate negative information for seven years and bankruptcy information on bankruptcy or for a period of 10 years. Information on judgments against whose amounts are unpaid can be reported for seven years or until the statute of limitations expires, whichever came later. There is no time limit for reporting the data on criminal convictions; information reported in response to an application for employment with a salary of $ 75,000 or higher and the information reported as a result of the submission of an application for credit or life insurance over $ 150,000 worth. There is a standard method for calculating the reporting period of seven years. Generally, the period expires at the expiry of the relevant period from the day of occurrence of the event in question.

Applying These Tips Could Help You Repairing Your Credit.

December 17th, 2013 by eldecoin under Info

In order for you to properly repair your credit, you need the correct information so you don’t struggle more than necessary. This article will give you the information you definitely need to know about repairing your credit damage. As difficult as this process can be, it is manageable.

Do not be taken in by for-profit companies that guarantee to repair your credit for you for a fee. These businesses have no more ability to repair your credit score than you do on your own; the solution usually ends up being that you need to responsibly pay off your debts and let your credit rating rise slowly over time.

When you inspect your credit report for errors, you will want to check for accounts that you have closed being listed as open, late payments that were actually on time, or any other myriad of things that can be wrong. If you find an error, write a letter to the credit bureau and include any proof that you have such as receipts or letters from the creditor.

Make sure you receive a physical contract from all credit collection agencies. The agreement should spell out exactly how much you owe, the payment arrangements, and if they are charging any additional fees. Be very wary if the company is hesitant to provide you a contract. There are unscrupulous firms out there who will take your money without actually closing your account.

If there is a judgment against you, see if it can be vacated. If you were not served properly or if the debt isn’t yours, you can have a judgment vacated. You must go through the process of petitioning the court; however the process is one that you can manage on your own.

If you are trying to repair your credit report, remember that not all debts are considered equal, especially major problems like bankruptcies or forclosures. Once foreclosure proceedings finish, your credit score will immediately begin to improve, but most lenders will not give you another mortgage for at least two years after the foreclosure, no matter how good your credit score is.

A great place to start when you are trying to repair your credit is to develop a budget. Realistically assess how much money you make each month and how much money you spend. Next, list all of your necessary expenses such as housing, utilities, and food. Prioritize the rest of your expenses and see which ones you can eliminate. If you need help developing a budget, your public library has books which will help you with money management techniques.

If you are looking to build credit then you should get a short term installment loan. These are small loans that can usually be paid back with small, automatic payments. They look very good on your credit report and they will not be very hard to pay back.

If you have hurt your credit and have realized the damage you have done, it is important to start by actually paying what you owe. If you need pay your credit card bills, you need to find a job even if it is at McDonald’s. If you do not pay your card off, your credit will never get better.

To pay your credit card bills, you should set up a direct debit through your checking account. You can prearrange with your credit card company to take out a fixed amount each month. This will prevent you from forgetting to pay the bill, and do damage to your credit score.

To repair your credit, avoid multiple late payments. While a single late payment counts against you, multiple consecutive late payments are even worse. The more late payments you have in a row, the more each late payment counts against you. That means that when you make a late payment, it becomes even more important to pay everything else on time.

If you have bad credit, one good reason to work on repairing it is that good credit will end up saving you a lot of money. The better your credit, the lower the interest rates you will be charged on loans and credit cards. Work on fixing your credit to get those rates down.

Avoid filing bankruptcy at all costs if you are concerned about your credit history. Unless you have no other way out, it’s better to try to work with your creditors to find a way to pay off your debts. A bankruptcy will stay on your credit history for 10 years, so it will be hurting you for a long time.

To repair bad credit, make sure you pay at least the minimum balance on your credit cards each month. It is always best to pay your balance in full, but sometimes this is not possible. Paying the minimum balance shows companies that you are at least trying to repay what was loaned to you.

Make sure the credit repair agency is reputable. The credit repair business has a lot of unfair and shady companies. Many people have fallen for scams involving credit repair. Reading unbiased customer reviews will help you decide what company you want to work with.

Keep track of your money. Pay close attention to every single penny that is coming in and going out. This will help you get organized so you can get caught up on your credit card bills faster. This will also show you what you need to cut back on.

Try to settle debts. Often times debt collectors would rather settle a debt with you than to have it go unpaid. Start off haggling with the debt collector, see if they will take 30 percent of what is owed and just go up from there. You may also get them to remove negative information as well, by trying to settle.

Since you know the stress of credit repair, it is time for you to find the stress relief of credit repair. Take the information you have learned about credit repair in this article, and apply it to your specific situation. With this, you should now be on the right track to repair in no time.