People that compile your
personal credit reports are human be like me and you, they can make mistake
while compiling your reports from various sources. Thus, requesting for a copy
of your report often is very important. It will allow you to know what they
compile about you. You will be able to discover unfavorable information,
request for corrections before they started spreading non-accurate information
about you.
When you get a copy of your
personal report, determine the status of your credit file. Study the
information in it very well and attempt to remove all unfavorable information
in it. All your credit history may not be contained in one file from a firm. So
if possible get from other firms too. Some information may be duplicated, or
not included in the other file.
You need to note of your full
name, social security number, current and previous addresses, spouse’s name,
and date of birth and make sure that they are correct because they are points
used in identifying you. Also, make sure that merchants name, credit account
number, date opened, date closed, high credit limit, highest amount of credit
used, and repayment history are correct, current and accurate.
After studying the file
carefully if you notice any error, write out exact error and the way you think
it should be listed. You will find a space on the right-hand side of your
report where you may protest any item in your report that you feel incorrect.
You will have to attach photocopies along with pertinent information to proof
your claim and send it to bureau by mail. When the bureau gets your message
they will investigate and send you result of their investigation. You will have
to exercise patience during this period because it may take bureau some time to
complete their investigation.
The fact that the agency that
compiles or can compile information about you is not one will make it almost
impossible for you not to encounter problem in future. When you apply for
credit in bank, stores or any lending company you may be denied. This does not
mean the agency you filed errors on your reports with haven’t make changes,
it’s likely that the bank or store you are trying to deal with have another
report about you, possibly from another agency.
So anytime that you are
denied credit, you have the right to know why you were turned down! If the bank
or stores used a credit report agency, they must provide you with the name and
address of the agency that supplied them with the report.
Once you have the contact
information of the agency involved, you should make an appointment to visit the
credit agency, so that you can review your report, find out information that is
causing you to be denied credit, and make corrections if you have enough
evidence to proof.
When you are visiting the
agency make sure that you present yourself very well. You must dress modestly
as your appearance will surely tell the agency staff more about you. If
possible take a friend along with you to be a witness to whatever it’s said.
You have to be very careful when you get to be bureau, don’t let the
representative of the credit bureau confuse you with unnecessary terms or even
upset you in any way. If there is anything you don’t understand, ask to have it
explained again.
Don’t be afraid to demand
explanation where you feel the agency is wrong. If there is any information in
the report that is not true, point it out, and have it investigated by the
agency. Once the agency correct the error you have right to demand that the
bureau send correct copies of your report to all creditors who have received
the incorrect reports before.
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