Wednesday, March 28, 2018

How to report your credit report to a credit reporting agency

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What should you do if you want to question your credit report? First, you should obtain a copy of the latest credit report from all three consumer reporting agencies, Equifax, Experian, and TransUnion. You may be entitled to receive a free credit report from each agency. According to the Fair and Accurate Credit Transactions Act, you have the right to provide a free report to the organization every 12 months. You need to get all three types of reports because the information contained in each report may vary.

When you have your report, check it carefully. The typical information in the report will include your personal information, which means not only your current address but also the previous address (and previous name if you changed your name for marriage or other reasons). There is also an open record in the report. Basically, this may have almost any type of public information about you, including bankruptcy, verdicts, liens, and even criminal records.

Of course, the credit report contains details of your credit history, indicating your credit card account, loans, leases, mortgages, etc. Your payment history will also be explained in detail. There is also a list of enquiries that tell you everyone to look at your credit report, from banks and other creditors to yourself.

What should be done next? You can start with personal information. Please contact the credit reporting agency and request that the old name and address be deleted on the grounds that the information is inaccurate. This is a simple matter, but it can actually help you clean up your credit history, especially if your report still contains some outdated items.

You can then dispute any other information in the report, including inaccurate public record information. This is your legal right. You can submit the dispute by writing to the consumer reporting agency or completing the disputed form on the agency website. When an agency receives your notice of a report of a dispute, the law requires them to verify the information with the person who provided the relevant information. They must be completed within 30 days of receiving your letter or form. If they cannot verify the information, they must remove it from your report.

How do you write your controversy letter to the agency? First, do not make any false statements in your written request. Even if you believe that a statement is true, you should try to express it in a neutral way. For example, don't write the account as "not mine," just ask to verify the item, and delete it if it can't be verified.

Should you send a copy of the document to support your disputed correspondence? Documents can help your situation, but be careful. They may also inadvertently verify the negative information in the report. Sometimes it may be better for the agency to verify itself, at least initially. You can then dispute again.

Always send out a disputed letter marked "Verified Mail Receipt Request" so that you can prove that the document has been received and on what date.


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