Cleaning Up Your Credit Report
_Probably you already know that your credit report guards show whether you've been sued, arrested or have filed for bankruptcy with in the last 10 years. Companies named Consumer Reporting Agencies (CRA) or Credit Bureaus put together and sell your credit report to businesses all over the world.
Many financial advisers suggest that you should review periodically your credit report for mistakes or omissions. This could be even more important if you're thinking about making a major purchase, such as buying a home. Checking in advance on the accuracy of information in your credit file could speed the credit-granting process, having a clean credit is obligatory. It's important that the information in your report is complete and accurate.
A credit report is pulled from at least one of the three major credit bureaus every time you apply for any type of credit or financing. This is the reason why you will want a clean credit report to be pulled.
Getting Your Clean Credit Report
If by any chance you've been denied credit, insurance, or employment because of what was supplied by a credit reporting agency, the FCRA says the company you applied to must give you the agency`s name, address, and telephone number. In this case, if you contact the agency for a copy of your report within 60 days of receiving a denial notice, the report is free. Even more so, have the right to one free copy of your report a year.
If you just want a copy of your report, call each of the three credit bureau listed since it is possible that more than one agency has a file on you, some with different information. The three major national credit bureaus are: Equifax, Experian (formerly TRW) and Trans Union.
Correcting Errors For Clean Credit.
In order to protect all your rights under the law and to keep your credit clean you need to contact both the CRA and the information provider.
To get clean credit reports,tell the credit reporting agency in writing what information you might think is inaccurate. Don't forget to include copies of the documents that confirm your statement and keep the originals. It is also mandatory to provide your complete name and address and to clearly highlight each item in your report you dispute, explain why you dispute the information, and request deletion or correction.
They must reinvestigate the items in question, usually within 30 days, unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA. If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file, then you will receive a clean credit report, with that item removed.
When the reinvestigation is complete, they are obliged to give you the written results and a free copy of your clean credit report, only if the dispute results in a change.
Clean Credit: Here are the exceptions:
There is no time limit when reporting credit information in response to an application for a job with a salary of more than $75,000, when reporting credit information because of an application for more than $150,000 worth of credit or life insurance and last but not least, there is no time limti when reporting information about criminal convictions.
Information about bankruptcy may be reported for 10 years and information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
For more information about cleaning up your credit report visit freecredit-report.net
Many financial advisers suggest that you should review periodically your credit report for mistakes or omissions. This could be even more important if you're thinking about making a major purchase, such as buying a home. Checking in advance on the accuracy of information in your credit file could speed the credit-granting process, having a clean credit is obligatory. It's important that the information in your report is complete and accurate.
A credit report is pulled from at least one of the three major credit bureaus every time you apply for any type of credit or financing. This is the reason why you will want a clean credit report to be pulled.
Getting Your Clean Credit Report
If by any chance you've been denied credit, insurance, or employment because of what was supplied by a credit reporting agency, the FCRA says the company you applied to must give you the agency`s name, address, and telephone number. In this case, if you contact the agency for a copy of your report within 60 days of receiving a denial notice, the report is free. Even more so, have the right to one free copy of your report a year.
If you just want a copy of your report, call each of the three credit bureau listed since it is possible that more than one agency has a file on you, some with different information. The three major national credit bureaus are: Equifax, Experian (formerly TRW) and Trans Union.
Correcting Errors For Clean Credit.
In order to protect all your rights under the law and to keep your credit clean you need to contact both the CRA and the information provider.
To get clean credit reports,tell the credit reporting agency in writing what information you might think is inaccurate. Don't forget to include copies of the documents that confirm your statement and keep the originals. It is also mandatory to provide your complete name and address and to clearly highlight each item in your report you dispute, explain why you dispute the information, and request deletion or correction.
They must reinvestigate the items in question, usually within 30 days, unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA. If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file, then you will receive a clean credit report, with that item removed.
When the reinvestigation is complete, they are obliged to give you the written results and a free copy of your clean credit report, only if the dispute results in a change.
Clean Credit: Here are the exceptions:
There is no time limit when reporting credit information in response to an application for a job with a salary of more than $75,000, when reporting credit information because of an application for more than $150,000 worth of credit or life insurance and last but not least, there is no time limti when reporting information about criminal convictions.
Information about bankruptcy may be reported for 10 years and information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
For more information about cleaning up your credit report visit freecredit-report.net
__Tips on How to Improve Your Credit Score
_First of all do you know what a credit score is? If your answer is yes. Congratulations! If you're not so sure, know that it can be associated with a "snapshot" of your credit history, which changes many times. It is often called FICO score because the three national consumer credit companies use software to determine the score developed by Fair Isaac and Company. Basically the higher the score, the better your chances of obtaining credit, it situated between 300 to 850. In any case your credit score is just one part in determining if your loan with be approved, it is an important one and even more so, it is one that you can improve.
Under the Fair and Accurate Credit Transactions Act you are entitled to a free copy of your credit report annually from each of the three national consumer credit companies. A central location has been set up at AnnualCreditReport.com. Here, you can also ask for your credit score (one from each of the companies) for a small fee.
There are 5 factors used in calculating your credit score: one of them is your payment history, which represents 35percent of the number, next is the amount you owe at 30 percent, it is followed by the lenght of your credit history - 15 percent of your FICO score and last but not least is any new credit and the type of credit you use with 10 percent each. Why does it matter? Because these factors can help you improve your score.
What you need to keep in mind is that when applying for credit, the company will check your credit report aka credit inquiry. Indeed, too many credit inquiries can lower you credit score, but on the other hand opening a new credit and paying it on time will improve your overall score. If your credit score is low, the best thing to do is to pay your debts on time, for a period of time. The logic behind it is very simple, you should demonstrate your ability and willingness to pay your obligations.
For more information on credit score and ways to improve it, visit a-free-credit-score.com
Under the Fair and Accurate Credit Transactions Act you are entitled to a free copy of your credit report annually from each of the three national consumer credit companies. A central location has been set up at AnnualCreditReport.com. Here, you can also ask for your credit score (one from each of the companies) for a small fee.
There are 5 factors used in calculating your credit score: one of them is your payment history, which represents 35percent of the number, next is the amount you owe at 30 percent, it is followed by the lenght of your credit history - 15 percent of your FICO score and last but not least is any new credit and the type of credit you use with 10 percent each. Why does it matter? Because these factors can help you improve your score.
What you need to keep in mind is that when applying for credit, the company will check your credit report aka credit inquiry. Indeed, too many credit inquiries can lower you credit score, but on the other hand opening a new credit and paying it on time will improve your overall score. If your credit score is low, the best thing to do is to pay your debts on time, for a period of time. The logic behind it is very simple, you should demonstrate your ability and willingness to pay your obligations.
For more information on credit score and ways to improve it, visit a-free-credit-score.com
You don't need a Credit Card to Obtain A Free Credit Report
_Actually though the majority of people in United Places now has a right to receive a complimentary credit report annually from most of the three main credit bureaus, Equifax, Experian, and TransUnion, there is still considerable doubt among consumers just as to whether they can get a credit report without having a credit card.
In fact having a credit card is not mandatory to get your credit report. Practically everyone is welcome to have a look at his financial records without any billing whatsoever annually. This is imposed by law. However a good part (the fact is that almost all) of online credit report providers that offer charge-free credit card reports use credit cards as a way to verify the identity. This is one of the biggest reasons for the dilemma. Consumers should be wary of utilizing such services and they will must go through the small print.
In any case there is no need for a credit card to obtain your free credit report and you can avoid the need to research on other online sites when you can obtain the credit report from legally mandated source site. All you want to do is to visit the principal website maintained by the three main credit bureaus to be able to arrange the free credit reports good provisions of The Fair Credit Reporting Act (FCRA) and Fair and Accurate Credit Transaction Act (FACT). This website is called annualcreditreport. com and once you finish with, you can almost without hesitation see your credit report.
Undoubtedly you will| be asked for proof of identity but it will not be your credit card. You will be asked to provide your name, address, date with birth, and social security number. If you have changed residence most likely you will be asked to specify old address. Added the credit bureau from which you requested the report will ask you to answer a question, that only you have the answer for. Questions may change in one bureau to another, although they will probably comprise employment history, old addresses or telephone numbers.
You also may request your free credit report dialing the toll free telephone number on the other hand through the mailing address provided by the three credit bureaus. With that method you will obtain the report within 15 days in the request.
Federal Trade Commissions which mandated the law for receiving your annual credit report free of charge has informed that only one website has the authority to provide your free annual credit report. That website is called annualcreditreport. com. They also alerted about additional websites that give free credit reports, but with the catch that you have to signup for credit monitoring. It should be noted that the only real method with getting your report without having to signup for other providers is to contact the credit bureaus directly. This is done either via the website, the telephone or through postage mail.
Since you can ask for the credit report from most of the three credit bureaus once every year you could space the requests out and not request all three report at once. That way it won't be needed to wait 12 months for your next free credit report. Don't forget that, however, the three bureaus have different sources for the information they include in their reports. This means that, their credit reports for the similar person tend to differ from each other.
Find out how to obtain a free credit report on the web by visiting freecreditreport.com, a popular credit report website that offers , tips, advices and resources to consist of information on obtaining a free copy of your credit report.
In fact having a credit card is not mandatory to get your credit report. Practically everyone is welcome to have a look at his financial records without any billing whatsoever annually. This is imposed by law. However a good part (the fact is that almost all) of online credit report providers that offer charge-free credit card reports use credit cards as a way to verify the identity. This is one of the biggest reasons for the dilemma. Consumers should be wary of utilizing such services and they will must go through the small print.
In any case there is no need for a credit card to obtain your free credit report and you can avoid the need to research on other online sites when you can obtain the credit report from legally mandated source site. All you want to do is to visit the principal website maintained by the three main credit bureaus to be able to arrange the free credit reports good provisions of The Fair Credit Reporting Act (FCRA) and Fair and Accurate Credit Transaction Act (FACT). This website is called annualcreditreport. com and once you finish with, you can almost without hesitation see your credit report.
Undoubtedly you will| be asked for proof of identity but it will not be your credit card. You will be asked to provide your name, address, date with birth, and social security number. If you have changed residence most likely you will be asked to specify old address. Added the credit bureau from which you requested the report will ask you to answer a question, that only you have the answer for. Questions may change in one bureau to another, although they will probably comprise employment history, old addresses or telephone numbers.
You also may request your free credit report dialing the toll free telephone number on the other hand through the mailing address provided by the three credit bureaus. With that method you will obtain the report within 15 days in the request.
Federal Trade Commissions which mandated the law for receiving your annual credit report free of charge has informed that only one website has the authority to provide your free annual credit report. That website is called annualcreditreport. com. They also alerted about additional websites that give free credit reports, but with the catch that you have to signup for credit monitoring. It should be noted that the only real method with getting your report without having to signup for other providers is to contact the credit bureaus directly. This is done either via the website, the telephone or through postage mail.
Since you can ask for the credit report from most of the three credit bureaus once every year you could space the requests out and not request all three report at once. That way it won't be needed to wait 12 months for your next free credit report. Don't forget that, however, the three bureaus have different sources for the information they include in their reports. This means that, their credit reports for the similar person tend to differ from each other.
Find out how to obtain a free credit report on the web by visiting freecreditreport.com, a popular credit report website that offers , tips, advices and resources to consist of information on obtaining a free copy of your credit report.