Bad Credit Repair Report by Ben_Longjas


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REPORT?                                        CREDIT PROBLEMS?
You should look for the following possible     No. Sometimes people get into trouble
problems:                                      with credit. The problems will usually
                                               show up on your report. The best thing to
ARE THERE ANY ERRORS?                          do in this situation is to start rebuilding
If you think there is an error, like an ac-    your credit. And if you apply for new
count that is not yours, you should fill out   credit, shop carefully. Try to get the best
a dispute form or write a letter explaining    terms possible.
the problem. Attach copies of any sup-         WHAT IF I FIX EVERYTHING AND
porting evidence, if you have it. Make
                                               I’M STILL TURNED DOWN FOR
sure to send the form or letter to the at-
tention of the agencies that issued the
                                               CREDIT?                                                             THE TRUTH
reports containing the error.                  It is possible that you are being illegally

The agency must then investigate your
                                               discriminated against. It is against the
                                               law for creditors to base decisions to ex-                   ABOUT CREDIT
report and get back to you, usually within     tend or deny credit on sex, age, race,
thirty days. (They can decline your re-        color, religion, national origin, marital                               REPORTS
quest only if they decide that it is frivo-    status, receipt of public income or assis-
lous. They must notify you of this deci-       tance or the exercising of your rights un-
sion). The agency must notify you within       der consumer protection laws. You                                                         &
five days of completing the investigation      should consult an attorney immediately if
and must include a copy of your credit
report, if it has been revised. If the
                                               you think this has happened to you.                          CREDIT REPAIR
                                               WHERE CAN I GO FOR HELP?
agency does fix the error, order another
report in a few months to make sure the        Consult your local legal services office,                         COMPANIES
error stays fixed.                             volunteer lawyers project (often coordi-
                                               nated through the local bar association),
IS THERE ANY OLD INFORMATION?                  or local department of consumer affairs.
Look for:                                                                                                          NATIONAL
                                                                                                                 CONSUMER LAW
•   Credit information older than seven                                                                             CENTER
•   Bankruptcy information older than 10        NCLC is a resource for lawyers and advocates on con-
                                                sumer issues affecting low-and moderate income Ameri-        77 SUMMER ST., 10TH FLOOR
    years                                       cans. This brochure was supported in part by a grant,
                                                                                                                  BOSTON, MA 02110
                                                number 90-AP-2640, from the Administration on Aging,
This is considered “old” information and        Department of Health and Human Services, Washington,            PHONE: 617/542-8010
                                                D.C. Points of view or opinions are entirely those of the        FAX: 617/542-8028
should no longer be in your report.             National Consumer Law Center.                                   HTTP://WWW.NCLC.ORG.
A credit report is a record of how you have     YOUR CREDIT HISTORY BY ORDERING                         COMPANY FOR HELP?
borrowed and repaid debts. Creditors usu-       YOUR REPORT                                             Beware of credit repair companies.
ally look at this report to decide whether      There are three major credit reporting agen-            There are many things you can do on
or not to grant credit and how much to          cies and many other small ones. You should              your own for free to “fix” your credit or to
charge.                                         order your report from at least the “Big Three.”        rebuild your credit.
WHAT KIND OF INFORMATION CAN                    These companies are:
                                                                                                        BEWARE OF THESE COMMON
BE INCLUDED IN MY REPORT?                                Equifax / Experian / Trans Union               CLAIMS MADE BY CREDIT REPAIR
MostThe most important information
     commonly:                                  As of September 1, 2005, consumers are enti-            COMPANIES:
    about the fund-raising event                tled to a free annual credit report from each
• Identification and employment data
    goes here on the inside panels.             major credit bureau. You can also obtain a              “We can erase bad credit”
• Payment history on your accounts
    Be sure that you convey the im-             free report if:
• A listing of all creditors who have re-                                                               The truth is that no one can erase bad
    portance of your cause and                  • You have been denied credit within the
  cently requested copies of your report
    highlight the benefits of being a                                                                   credit information from your report, if it
• Public record information [such as                past 60 days.
    supporter or participant. This is                                                                   is accurate.
  bankruptcies, foreclosures,picture            • You are unemployed and will be applying
    a good place to include a court judg-           for a job within the next 60 days                   “Only we can remove old or
    that shows someone participat-              • You receive public assistance, or                     inaccurate information.”
Credit reports sometimes include credit
      ing in the event or the cause you         • You have reason to believe that your report
      are credit score
scores. A supporting. is a number, usually
from 300 to 850. The higher the number, the         contains inaccurate information due to              The truth is that if there are legitimate
      You can use secondary head-
better. Creditors use these scores to help          fraud.                                              errors on your report or old information,
       evaluate the risk your text to you
themings to organize of lending and to and      Victims of identity theft also have rights to free      you can correct the report yourself for
      make it much to charge for credit.
to decide how more scannable for the You        reports. These agencies may charge you up to            free.
may request a credit score from credit re-      $9.50 for additional reports during the year.
porting agencies, but you may have to pay for
      Lorem ipsum dolor sit amet,                                                                          “Legitimate error” means that the in-
it, depending on the type of transaction in-
      consectetu adipiscing elit, sed           HOW DO I ORDER MY REPORT?                               formation is inaccurate, not just that it is
volved.                                                                                                 information you don’t like.
     diem nonummy nibh euismod                  You can order your report by phone, on-line, or
     tincidunt ut lacreet.                      by mail. To order by phone call 877-322-8228;              “Old information” means credit infor-
                                                online, click on;            mation older than 7 years, or bankruptcy
Only certain people are allowed to look at      or complete the Annual Credit Report Request            information older than10 years.
your report, such as:                           Form (available on the above website) and mail it to:
• Creditors, when you apply for credit or       Annual Credit Report Request Service, P.O.              “The bad information on your
   for a loan.                                  Box 105281, Atlanta, GA 30348-5281. You                 report is accurate, but we’ll erase it
• Employers, but only under certain cir-
                                                can also get your report by sending a written           anyway.”
   cumstances and most times you must           request which includes your full name, date of
                                                birth, social security number and residences            The truth is that if this means lying to
   give them written authorization.                                                                     the credit reporting agency, it is illegal.
• Government agencies, including those
                                                for the past five years. Each company has a
   trying to collect child support.             toll free number that you can call for more in-
                                                       Equifax(800) 685-1111
                                                     Experian(888) 397-3742
                                                   Trans Union(800) 888-4213

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