How To Easily Raise Your Credit Score 75 points
By: Vincent Dail | Posted: 08th September 2005
How To Easily Raise Your Credit Score 75 points
) Copyright 2005 Vincent Dail
Clean Credit Reports, your credit report contains
information about where you work, live and how you
pay your bills (On time or not). It also may show
whether you've been sued, arrested or have filed for
bankruptcy with in the last 10 years. Companies
called consumer reporting agencies (cra) or credit
bureaus compile and sell your credit report to
businesses all over the world.
Clean Credit Reports, many financial advisors
suggest that you periodically review your credit
report for inaccuracies or omissions. This could be
especially important if you're considering making a
major purchase, such as buying a home. Checking in
advance on the accuracy of information in your credit
file could speed the credit-granting process, clean
credit is a must.
Because businesses use this information to evaluate
your applications for credit, insurance, employment,
and other purposes allowed by the Fair Credit
Reporting Act (FCRA), it's important that the
information in your report is complete and accurate.
Whenever you apply for any type of credit or
financing, a credit report is pulled from at least one
of the three major credit bureaus. You want a clean
credit report to be pulled. While there are hundreds
of smaller credit bureaus around the country,
virtually every credit bureau is affiliated with either
Experian, Trans Union, or Equifax.
Getting Your Clean Credit Report
If you've been denied credit, insurance, or
employment because of information supplied by a
credit reporting agency, the FCRA says the company
you applied to must give you the agency`s name,
address, and telephone number. If you contact the
agency for a copy of your report within 60 days of
receiving a denial notice, the report is free. In
addition, you're entitled to one free copy of your
report a year.
If you simply want a copy of your report, call each
credit bureau listed since more than one agency may
have a file on you, some with different information.
The three major national credit bureaus are:
Equifax, P.O. Box 740241, Atlanta, GA 30374-0241;
(800) 685-1111.
Experian (formerly TRW), P.O. Box 2002, Allen, TX
75013; (888) EXPERIAN (397-3742).
Trans Union, P.O. Box 1000, Chester, PA 19022;
(800) 916-8800.
Correcting Errors For Clean Credit.
To protect all your rights under the law and to keep
your credit clean contact both the CRA and the
information provider.
First to get clean credit reports, tell the credit
reporting agency in writing what information you
believe is inaccurate. Include copies (please keep
your originals) of documents that support your
position. In addition to providing your complete
name and address, your letter should clearly identify
each item in your report you dispute, state the facts
and explain why you dispute the information, and
request deletion or correction. Always keep copies of
your dispute letter.
They must reinvestigate the items in question,
usually within 30 days, unless they consider your
dispute frivolous. They also must forward all relevant
data you provide about the dispute to the
information provider. After the information provider
receives notice of a dispute from the CRA, it must
investigate, review all relevant information provided
by the CRA, and report the results to the CRA. If the
information provider finds the disputed information
to be inaccurate, it must notify all nationwide CRAs
so they can correct this information in your file.
Disputed information that cannot be verified must be
deleted from your file, then you will recieve a clean
credit report, with that item removed.
If your report contains erroneous information, the
CRA must correct it(clean credit).
If an item is incomplete, the CRA must complete it.
For example, if your file showed that you were late
making payments ( 30 days or more), but failed to
show that you were no longer delinquent, the CRA
must show that you're current.
If your file shows an account that belongs only to
another person, the CRA must delete it.
When the reinvestigation is complete, they must
give you the written results and a free copy of your
clean credit report, if the dispute results in a change.
If an item is changed or removed, they cannot put
the disputed information back in your file unless the
information provider verifies its accuracy and
completeness.
Also, if you request, they must send notices of clean
credit report corrections to anyone who received
your report in the past six months. Job applicants
can have a corrected copy of their clean credit report
sent to anyone who received a copy during the past
two years for employment purposes. If a
reinvestigation does not resolve your dispute, ask
the CRA to include your statement of the dispute in
your file and in future reports.
Second, in addition to writing to the credit angency,
tell the creditor or other information provider in
writing that you dispute an item. Again, include
copies (please not originals) of documents that
support your position. Many providers specify an
address for disputes. If the provider then reports
the item to any credit reporting angency, it must
include a notice of your dispute. In addition, if you
are correct that is, if the disputed information is not
accurate the information provider may not use it
again, thus you will have a clean credit report.
When negative information in your report is
accurate, only the passage of time can assure its
removal. Accurate negative information can generally
stay on your report for 7 years.
Clean Credit: There are certain exceptions:
Bankruptcy information may be reported for 10
years.
Information about criminal convictions may be
reported without any time limitation.
Credit information reported in response to an
application for a job with a salary of more than
$75,000 has no time limit.
Information about a lawsuit or an unpaid judgment
against you can be reported for seven years or until
the statute of limitations runs out, whichever is
longer. Criminal convictions can be reported without
any time limit.
Credit information reported because of an
application for more than $150,000 worth of credit or
life insurance has no time limit.
Adding clean credit accounts to your file:
Your credit file may not reflect all your clean credit
accounts. Although most national department stores
and all-purpose bank credit card accounts will be
included in your file, not all creditors supply
information: Some travel, entertainment, gasoline
card companies, local retailers, and credit unions are
among those creditors that don't report clean credit.
If you've been told you were denied clean credit
because of an insufficient credit file or no credit file
and you have accounts with creditors that don't
appear in your credit file, ask the CRA to add this
information to future reports. This will help get you
on the road to a clean credit report. Although they
are not required to do so, many CRAs will add
verifiable accounts for a fee. You should, however,
understand that if these creditors do not report to
the CRA on a regular basis, these added items will
not be updated in your file.
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Vincent Dail gives you the clean credit answers you need, today! Learn the secrets that the credit bureau's dont want you to know! To receive your special report visit: http://www.debt-elimination-program-reviews.com
About the Author
Occupation: Finance
Vincent Dail gives you the clean credit answers you need, today! Learn the secrets that the credit bureau's dont want you to know! To receive your special report visit: http://www.debt-elimination-program-reviews.com
Contact him at
http://www.debt-elimination-program-reviews.com
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Tags: fair credit reporting act, credit reporting act, credit score, equifax, major credit bureaus, experian, buying a home, trans union, three major credit bureaus, credit bureau, inaccuracies, credit reporting agency, financial advisors, credit insurance, consumer reporting agencies, cra