It wasn't all that long ago that
American's faced great financial crisis. As a nation, we struggle
with debt, and it keeps us from achieving a better life. Debt
Education is here to help you change all that ... just ask!
REAL PEOPLE ... CARING ABOUT REAL
ISSUES
How Mistakes Are Made
Some credit reports can have errors. Sometimes it's because the
report is incomplete or contains information about someone else.
This typically happens because he person applied for credit under
different names (Robert Jones, Bob Jones, etc.) or there are family
names that are exact and the data was mistakenly recorded wrong.
Is
there anything you can do about getting a negative comment removed
from your credit report?
Sometimes. No one can legally remove accurate and timely negative
information from a credit report. But the law does allow you
to request a reinvestigation of information in your file that
you dispute as inaccurate or incomplete. There is no charge for
this.
Everything
a credit-repair clinic can do legally, the consumer can do at
little or no cost. Under the Fair Credit Reporting Act (FCRA),
you have the right to dispute all incorrect, out-of-date and misleading
information in your credit file.
Make
sure you enclose copies of any documents you have to support your
claim in your letter. Here's what will happen:
·
Once the credit-reporting agency (CRA) receives your letter,
it must investigate the items you dispute and report back
to you within 30 days. Often credit bureaus will remove
an item on request without investigation if rechecking the item
is more bother than it's worth.
·
The CRA must contact the creditor reporting the disputed information
within five days of receiving the consumer's letter.
·
The CRA must remove all inaccurate and unverifiable information.
·
The CRA can reinsert removed information only if the provider
of the information certifies that the information is accurate,
and you are notified within five days of the reinsertion.
·
The CRA must provide the consumer with the results of its investigation
within five days of completion, including a new credit
report.
·
You might consider adding a 100-word statement to your credit
file if you still feel the information included in wrong,
or you want to explain something. Be aware that some statements
can be ineffective. There is no guarantee that the creditor
will read the statement.
There's a lot of information to read through on the Debt Education
website, but we feel this is extremely important material. We
strongly recommend that you bookmark
this page right now. This will allow you to read
at your leisure, and should you need to attend to other matters,
easily return back here at your convenience.
The Debt Education website was built for you. Please explore
our website. You'll find resources and information on virtually
every aspect of financial planning and money management. These
debt delp resources are designed to help you get out of debt
and stay out of debt. You can achieve financial independence.
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Debt Education PO Box 5156, Santa Cruz, CA 95063
