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Free Credit Report Is Necessary To Save Big!
by Lynn Thomas
Sunday, Jul. 12, 2009 at 1:03 AM
Free Credit Report Is Necessary To Save Big! Your online free credit report is extremely helpful in watching your credit situation.
You ordered your free credit report, you read it, and you're shocked at the errors you found. First, know you're not alone, experts say that as many as 70% of all credit reports carry errors.
But now what should you do?
First, write a letter to each of the credit bureaus that is reporting the error. Write a polite letter - remember they only report what is sent to them by your creditors. Even if the error is theirs, rudeness won't get you a faster correction.
Enclose a copy of your credit report with the errors highlighted and explain why the entry is in error.
When you report an error, the credit bureau must investigate with the creditor and get back to you with the results within 30 days, so don't expect instant satisfaction.
If the creditor agrees that the entry is in error, the credit bureau will remove it from your report. If the creditor insists that the entry is valid, you have the right to disagree. Write a short statement giving your side of the story. This will be placed in your record and a copy will be given to future creditors.
What kind of entries are errors that can be removed? Charges for: 1. Something you didn't buy or which was purchased by someone who did not have authorization to use your account. (a stolen card, or identity theft) 2. Something you ordered that was not delivered or which you refused on delivery 3. Something not properly identified on your bill, or does not match the actual purchase price an date of your purchase. With all the commercials out there advertising free credit reports, credit monitoring, etc, you might find it difficult to sort out which products are for real and which are scams. Should you listen to the singing pirate? The bald guy in the business suit? The blue collar factory worker? After all, all you want is a free way to check your credit report prior to making a major purchase such as a new car or home.
Other errors can be caused by a data entry mistake, an error in mathematics, missing payments, or failure of the creditor to change your address after proper notification.
The credit bureaus are interested in correcting any errors as quickly as possibly - because the penalties for failing to do so are stiff. Under the Fair Credit Reporting Act, their failure to remove information that has proven to be false entitles you to actual damages plus punitive damages.
Once you have contacted a credit bureau about a charge that you feel is false, a creditor may not report information that would damage your credit reputation until the inquiry is resolved. This includes giving information to other creditors or reporting to credit bureaus. They also may not take action to collect on the debt.
Get your free credit report today - then read it and take action if necessary.
Get a free credit report today
by Mike Simmonds
Monday, Jul. 13, 2009 at 4:34 PM
Get that credit reoprt today
Interesting free credit reports
by Jill Lewis
Monday, Jul. 13, 2009 at 4:37 PM
Very exciting news about free credit reports
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