Errors on Your Credit Report: What You Should Do

There are times when you may be turned down for credit and you do not understand why. According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. You may also receive a copy of your credit report for a small fee at any time in which you want to review the information contain therein.

If you dispute any of the information on your credit report, there are steps that you, the credit reporting agency and the information provider must take to have the information corrected or deleted form your report.

1. You should contact the credit reporting agency and request that the inaccurate information be taken off. To do this you will need to send a letter of request and enclose a copy of the report with the incorrect information highlighted. Send your request certified mail and indicate that a return receipt is requested.

2. The Credit reporting agency will forward the request to the information provider at which time they will review and investigate the request. If the information cannot be verified, then they must remove it. They can either correct or deny the request to change the information. They will then send their findings to the credit reporting agency.

3. If the information provider finds that their was an error they will provide written proof of the change and send a copy of the report to you, the credit reporting agency and anyone who has requested a copy of your credit report in the last six months.

4. If the information provider finds that there was no error, you can request that the credit reporting agency send a copy of the disputes with any report that is requested by creditors. You can also provide an explanation of a negative report in 100 words or less that will be included in any reports to creditors. Another alternative is to pay the debt, which would require the creditor to report the debt paid.

You should also be aware that negative reports will remain on your credit for up to seven years at which time they will be deleted in most cases. There are some exceptions, these include, bankruptcy, which can be reported for up to 10 years, and loans or life insurance policies which are in excess of $150,000.00, or criminal convictions, which can be reported at all times.

Timothy Gorman is a successful Webmaster and publisher of Debt-Relief-Solutions.com. He provides more debt relief, consolidation and free credit repair information that you can research in your pajamas on his website.

---

Better Links Directory

10 Tips To Prevent Credit Card Fraud

Imagine opening your credit card statement one morning and discovering... Read More

How Your Credit History Can Affect Your Life

Your credit history is an important aspect of your life.... Read More

Establishing Credit ? What You Need To Know Part 1

Establishing credit is one of the most important things you... Read More

Manage Your Credit Wisely

Getting your first credit card is a big deal and... Read More

Which Credit Bureau Should I Use To Check My Credit Report?

There are three main credit bureaus in the United States;... Read More

Opting For A Credit Card? Check Out Certain Terms

You've just received a "pre-approved" credit card offer in your... Read More

Credit Cards and How To Choose Them:

It may seem like a simple question but its important... Read More

Fair Credit Reporting Act: What You Should Know About It?

The Federal Fair Credit Reporting Act (FCRA) is designated to... Read More

All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA

Fact: Over 150 million Americans have credit report with the... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

Different Ways to Borrow Money

There are many different ways to borrow money. Outlined below... Read More

Fair Isaac Corporation Credit or FICO Score

As I am not from the US, I had no... Read More

Bad Credit Credit Cards

Chances are you've gotten your share of offers like this... Read More

New Credit Scoring Model Could Help Millions

Mark and Beth, a young married couple in their twenties,... Read More

Credit Enhancements: Seven Tips For Enhancing Business Credit Transactions

What are the avenues available to businesses with weak credit... Read More

Credit Trap: What They Dont Tell You About Credit Cards In College

In industrialized nations, going into debt starts early. It's easy... Read More

How You Can Help Prevent Identity Theft

How can I prevent Identity theft from happening to me?... Read More

10 Ways To Boost Your Credit Score

1. Deleting Errors in 48 HoursThis is the absolute fastest... Read More

Student Credit Cards 101

Almost all students have and use student credit cards. Some... Read More

Winning The Credit Game!

Everywhere we go, the word credit can be found, shining... Read More

Credit Help for Real Estate Financing: Credit Scores

When you buy real estate, lenders run all of the... Read More

Good Credit Is Not A Good Reason To Borrow More Money After Youve Achieved Financial Freedom

The most important thing for you to remember is that... Read More

Compare Credit Card Offers and Reward Yourself

Here's a simple system on how to pay zero interest... Read More

Credit Cards or Store Cards - Which Is Better?

Introduction In this article, a presentation is made of the... Read More

Choosing A New Credit Card

1. Choosing A new credit cardThere are many reasons for... Read More