admin on July 1st, 2008
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Credit disputes are more common now due to the increase in identity theft and identity fraud. While these occurrences are not at all considered to be mandatory for a credit dispute, they do make up a discernable amount of credit disputes that are submitted and reported. Nonetheless, whether a person is disputing their credit due to identity theft, identity fraud or the individual’s simple belief in an error having been made, the process for disputing the credit reporting is the same.
There are three credit bureaus in the United States of America to which individuals can dispute credit aspects of their report. Some people prefer to send disputes to all three of the credit bureaus, but this is not always necessary. In the event that a person has a dispute, they need to contact their chosen credit bureau(s) on which they see the disputed item. Here are the following contact information links and numbers that you will need in order to dispute an aspect of your credit report.
Equifax:
Phone: 800-685-1111
Website: www.Equifax.com
Experian:
Phone: 888-EXPERIAN
Website: www.Experian.com
TransUnion:
Phone: 800-916-8800
Website: www.TransUnion.com
For credit disputes, you need to have a recent credit report and credit report number, which is a number on the top of your credit report, used to identify the report. Typically this report needs to be dated within 90 days of your credit report dispute filing. You can get a free credit report – liegitmately free and not a trial version – from www.AnnualCreditReport.com. One free credit report from each of the three bureaus is permitted each year or every twelve months.
Let the credit bureau know in writing what you think is inaccurate on your reprt. Send letters to the creditor to the same effect as well. When you send a letter to the creditor(s) include a copy of the affected items on your credit report. Remember to include COPIES and not the ORIGINALS of the credit report.
admin on June 12th, 2008
Credit Counseling is an education service that is provided to individuals interested in learning how to avoid taking on debt that cannot be repaid. In many cases, credit counseling is part of the process for individuals who are trying to establish a debt management plan for themselves. As you receive an education in relation to debt and credit, the education service provider will often be working with the creditors with whom you are involved. The most important thing to understand when it comes to credit counseling is that this is not a quick, get-rid-of-your-debt scheme. If you are involved in credit counseling, you need to have a sincere desire and commitment to eliminating and controlling the debt that you have in your life.
If you are involved in credit counseling, one of the first steps that might be taken is the closing of all of your included accounts. This is done in order to help prevent you from acquiring any more debt. When your debt is consolidated, you will most likely be paying less in your one consolidated monthly payment than you would have been paying if you were to continue paying individual monthly bills. When this occurs, you will also most likely notice that your interest rates have changed. People who are involved in a debt management plan as a part of credit counseling will often receive lower interest rates, which will help them to pay off their debt more quickly than they otherwise might be able to pay it off on their own.
Despite the fact that there are a number of positive benefits that individuals can take out of credit counseling and a debt management plan, these processes are not without criticism. In the 1990’s the number of credit counseling services increased significantly and it is believed that this increase is linked to some of the abuses in the industry that have surfaced. Individuals interested in credit counseling services need to be very careful that they are not scammed. Research needs to be done in order to validate the credit counseling services that you may be interested in working with in order to improve your finances. To help with this, you may want to consult the Better Business Bureau in order to make sure the company you are interested in is in good standing with the Bureau.
When you choose a legitimate credit counseling service, you will be on your way to an increased credit education and credit score. Financially, this education can really help you to turn your life around by helping you with the debt you have already incurred and educating you in order to limit your debt in the future.
admin on May 4th, 2008
It may seem like a long shot, but I’ve always believed in the rule that if you don’t ask, you’ll never receive. Sending a letter won’t cost you a lot of money and you may just get someone on a good day where they are willing to help you out. So how do you approach a creditor and ask them to remove a debt that is being reported accurately?
Dear CEO name,
I am writing you to discuss my credit card account #xxx which was established x years ago. I am writing to ask you to consider removing this account from my credit report. I understand this is an unusual request, but the Fair Credit Reporting Act does now say you must report all credit accounts to the credit bureaus.
When I established the account I was financially secure, and I certainly understand that it was my responsibility to stay current on payments. Unfortunately I made several financial mistakes and fell behind. When I was able to, I paid off the debt in full on xxxx. I am hoping that after you review my circumstances and the fact that I have paid off the debt, you would be willing to remove the negative remarks with the three credit bureaus.
I an not saying the information is inaccurate, I am simply asking you to use your discretion to remove the account from my credit report in an act of goodwill. I appreciate your consideration in this matter.
Sincerely,
Your Name
