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Simple Steps To Improving Your Credit Report
By: Www.creditandyou.com
Even if you think you have a wonderful credit report, be wary of the error
factor. Just as you receive mail with your name and address misspelled, your
credit report can have errors as well. Whether it’s human error, out of date
information or even mistaken identity, errors occur more easily than we’d all
like to think.
Under the law, both the credit reporting agency and the organization that
provided the information to the credit reporting agency have responsibilities
for correcting inaccurate or incomplete information in your credit report.
So, if you find an error on your credit report, be sure to notify the credit
bureau in writing
immediately:
1. Tell the CRA what information you believe is inaccurate on your credit
report. Include copies, never originals of documents that support your position.
2. In addition to providing your complete name and address, your letter should
clearly identify each item in your credit report that you dispute. State the
facts and why you are disputing the information. Enclosing a copy of your credit
report with the items in question circled can be helpful.
3. Though you may think your reason for writing is obvious, be sure to request
that the error be corrected.
4. Send your letter by certified mail, return receipt requested so you can
document what the credit reporting agency received. Make sure your letter is
dated, and don’t forget to keep copies of everything you send.
Credit reporting agency must reinvestigate the item(s) in question, usually
within 30 days unless they consider your dispute frivolous. They also must
forward all relevant data you send them to the information provider (bank,
credit card agency, etc.).
After the information provider receives notification of a dispute from the
credit reporting agency, it must review and investigate all relevant information
provided and report the results back to the credit reporting agency.
If the information provider finds the disputed information to be inaccurate, it
must notify all nationwide credit reporting agency so that they can correct this
information in your file.
Disputed information that cannot be verified must be deleted from your file.
Inaccurate information must be corrected by the CRA.
Incomplete information must be corrected by the CRA.
Any account that belong only to another person must be deleted by the CRA.
NOTE: Credit repair can be long and tedious, the importance of knowing your
rights cannot be emphasized enough so be sure you take time to digest this
information.
About the Author:
To find more easy steps anyone can take to repair there credit report and what
to do after the investigation visit http://www.creditandyou.com/creditrepair.html
it’s a free information website!
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