Our services assist clients by helping them remove negative inaccurate, unverifiable and incomplete information from their credit reports, including charge offs, bankrupticies, judgments, repos, foreclosurs, collections accounts, student loans, tax liens, and slow pays.
| Your Access to Free Credit Reports Soon you’ll be able to get your credit report for free. A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to consumer reporting companies. A credit report contains information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. There are three nationwide consumer reporting companies — Equifax, Experian, and Trans Union. Consumers in Western states will first be able to order their credit reports under the federal law beginning December 1, 2004. Consumers in other states will be able to order their copies according to a regional roll-out detailed below. In recent months, consumers have asked the FTC for more details about their rights under the federal FCRA and the Fair and Accurate Credit Transactions (FACT) Act, which established the free credit report program. They’ve also asked about credit reports in general. Here are the most frequently asked questions and the answers. Q: How do I know when I’m eligible to get a free report? A: Free reports will be phased in during a nine-month period, rolling from the West Coast to the East beginning December 1, 2004. Beginning September 1, 2005, free reports will be accessible to all Americans, regardless of where they live. Consumers in the Western states — Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming — can order their free reports beginning December 1, 2004. Consumers in the Midwestern states — Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin — can order their free reports beginning March 1, 2005. Consumers in the Southern states — Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas — can order their free reports beginning June 1, 2005. Consumers in the Eastern states — Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia — the District of Columbia, Puerto Rico, and all U.S. territories can order their free reports beginning September 1, 2005. Q: How do I order my free report? A: The three nationwide consumer reporting companies have set up one central website, toll-free telephone number, and mailing address through which you can order your free annual report. To order, click on www.annualcreditreport.com, call 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form is on the back of this brochure; or you can print it from www.ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are only providing free annual credit reports through www.annualcreditreport.com, 877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order from only one or two. The law allows you to order one free copy from each of the nationwide consumer reporting companies every 12 months. Q: What information do I have to provide to get my free report? A: You need to provide your name, address, Social Security number, and date of birth. If you have moved in the last two years, you may have to provide your previous address. To maintain the security of your file, each nationwide consumer reporting company may ask you for some information that only you would know, like the amount of your monthly mortgage payment. Each company may ask you for different information because the information each has in your file may come from different sources. www.annualcreditreport.com is the only authorized source for your free annual credit report from the three nationwide consumer reporting companies. www.annualcreditreport.com and the nationwide consumer reporting companies will not send you an email asking for your personal information. If you get an email or see a pop-up ad claiming it’s from www.annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or click on any link in the message — it’s probably a scam. Forward any email that claims to be from www.annualcreditreport.com or any of three consumer reporting companies to the FTC’s database of deceptive spam at spam@uce.gov. www.annualcreditreport.com or any of three consumer reporting companies also will not call you to ask for your personal information. Q: Why would I want to get a copy of my credit report? A: You may want to review your credit report:
Q: How long does it take to get my report after I order it? A: If you request your report online at www.annualcreditreport.com, you should be able to access it immediately. If you order your report by calling toll-free 877-322-8228, your report will be processed and mailed to you within 15 days. If you order your report by mail using the Annual Credit Report Request Form, your request will be processed and mailed to you within 15 days of receipt. Whether you order your report online, by phone, or by mail, it may take longer to receive your report if the nationwide consumer reporting company needs more information to verify your identity. There may be times when the nationwide consumer reporting companies receive an extraordinary volume of requests for credit reports. If that happens, you may be asked to re-submit your request. Or, you may be told that your report will be mailed to you sometime after 15 days from your request. If either of these events occurs, the nationwide consumer reporting companies will let you know. Q: Are there any other situations where I might be eligible for a free report? A: Under federal law, you’re entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft. Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period. To buy a copy of your report, contact:
Q: Should I order a report from each of the three nationwide consumer reporting companies? A: It’s up to you. Because nationwide consumer reporting companies get their information from different sources, the information in your report from one company may not reflect all, or the same, information in your reports from the other two companies. That’s not to say that the information in any of your reports is necessarily inaccurate; it just may be different. Q: Should I order my reports from all three of the nationwide consumer reporting companies at the same time? A: You may order one, two, or all three reports at the same time, or you may stagger your requests. It’s your choice. Some financial advisors say staggering your requests during a 12-month period may be a good way to keep an eye on the accuracy and completeness of the information in your reports. Q: What if I find errors — either inaccuracies or incomplete information — in my credit report? A: Under the Fair Credit Reporting Act, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.
Q: What can I do if the consumer reporting company or information provider won’t correct the information I dispute? |
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The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. |
"Erase your bad credit - 100% guaranteed!" You have probably encountered these types of advertisements in a newspaper, magazine or on the Internet. Unfortunately, their claims are generally false or misleading. Despite what a credit repair company may lead you to believe, there is no easy way to fix bad credit.
Your credit history is maintained by credit bureaus, private companies that collect your payment history from creditors such as banks, department stores and mortgage companies. The only items that can be changed in your credit file are those that are erroneous or more than seven years old. Bankruptcy declarations can be reported for ten years.
Accurate items that are reported within the seven- or ten-year period cannot be erased from your credit record by companies advertising credit repair services. Credit repair companies charge anywhere from $50 to more than $1000 dollars for their services. In fact, you can do anything to your credit file that a credit repair company can. If you find an inaccurate item in a your credit file, you can fix it yourself at little or no cost.
Creditors seek information on your payment history from one of three major credit bureaus. It is a good idea to check the accuracy your credit report annually. You can do this by requesting a credit report from all three credit bureaus. Credit bureaus are required by law to share any information they have on file about you. In addition, you are entitled to a free copy if you have been denied credit, insurance or employment. You must request the report within 60 days from the credit bureau that provided the report to the business.
If you do find inaccuracies in your credit file, notify the credit bureau of the problem. Request a dispute form and submit it with supporting documents. By law, the credit bureau must investigate and correct any erroneous or outdated information. There is no charge to dispute mistakes in your credit file. The credit bureau must also send corrected copy of your report to anyone who received the incorrect version within the past six months.
Even so, it may also be a good idea to contact the creditor directly to ensure that its records are correct. If these steps do not completely resolve your dispute, you can have a written protest added to your credit file.
Consumers should be careful when considering loan consolidation as a way to pay off creditors. Some companies claim they can guarantee a loan for a fee paid in advance. The fee maybe as much as several hundred dollars. If someone guarantees or strongly suggests that they can get a loan or credit for you, it's against the law for them to request or accept payment until you actually get the loan or credit. And be aware that there are entirely bogus credit companies that will collect a fee up front and then simply abscond with your money. Legitimate lenders never guarantee or say that you are likely to get a loan or credit card before you apply, especially if you have bad credit, no credit or a bankruptcy.
We have also heard about companies that claim to be able to get your mortgage "released" by the holder for a fee of $2000. Needless to say, your mortgage cannot be dismissed for a fee. If you have credit problems, consider a consultation with a credit counseling service. There are no easy answers. Rebuilding your credit will take time and good management. Don't allow yourself to be further victimized by credit repair scams.
Date
Your Name
Your Address
Your 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. The items I dispute also are encircled 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 deleted (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 investigate 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)