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CreditTechnologi
457 Posts |
 Posted - 06/02/2008 : 08:03:31 AM
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You don't need to pay anyone to "repair" your credit. The easiest and fastest way to correct errors on your credit report at absolutely no cost is though AnnualCreditReport.com. It's a free and simple process...
First, obtain free copies of each your credit reports (Experian, Trans Union and Equifax.) The consumer version of your credit report (consumer disclosure) includes data that is not provided on any other type of credit report, such as those obtained for mortgage purposes. Compliments of the Fair and Accurate Credit Transactions Act (FACT Act) of 2003, There are three free methods to obtain your credit reports,
- Online at www.AnnualCreditReport.com or,
- By phone by calling 1-877-322-8228 or,
- By mail, simply print, complete and mail the request form available at https://www.annualcreditreport.com/cra/requestformfinal.pdf to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Once you receive your credit reports, review each to see if any errors exist. If errors are found – follow the dispute process identified on each credit report (your dispute can be handled online, by phone or by mail.)
Federal law (FCRA) requires most disputes be completed within 30 days. At the time this was written, we’re seeing most disputes completed within 3 weeks.
Here’s the best part...
Once you obtain copies of your credit report – The FACT Act requires each repository to provide a toll-free number answered by a live person to help you with any questions or concerns you have about your credit report, or to assist with the dispute process. These live customer support agents can also provide a fax number so you can forward any supportive documentation (e.g. bankruptcy documents, statements or receipts.) When advised of a pending mortgage – they are often able to greatly accelerate the dispute process (sometimes completed within days.)
Most importantly - as mandated by Federal law, all of the above is provided absolutely free of charge. This process gets your dispute addressed by each repository faster than possible through any other means, including paying any third party.
More information on disputes is provided by each repository at,
Equifax - http://www.equifax.com/answers/correct-credit-report-errors/en_cp
Experian - http://www.experian.com/disputes2/index.html
Trans Union - http://www.transunion.com/corporate/personal/creditDisputes.page
Fair Isaac, the developers of the FICO scoring models provide a good educational resource on FICO scoring at http://www.myfico.com/CreditEducation/
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hpmfinancial
1451 Posts |
Posted - 06/02/2008 : 1:22:40 PM
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If you want to get RESULTS do not go this route. In order to initiate this dispute online you must agree to the whole process done online.
This is typical advise from a credit report peddler. They love for you to have bad credit, then they charge through the roof when you are in a pinch and need a rapid re-score. |
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CreditTechnologi
457 Posts |
Posted - 06/03/2008 : 05:45:10 AM
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quote:
Originally posted by hpmfinancial
If you want to get RESULTS do not go this route. In order to initiate this dispute online you must agree to the whole process done online.
This is typical advise from a credit report peddler. They love for you to have bad credit, then they charge through the roof when you are in a pinch and need a rapid re-score.
Consumers have the option of handling disputes online, by phone or via the mail. We often see disputes processed online or via the phone completed within as little as a few days. Regardless of the dispute method chosen, every consumer is provided a toll-free phone number where they can talk with a customer service agent from each repository and any supportive documents can be faxed. This can greatly speed the completion of the dispute. All of the above can also be done via the mail, but the process is slowed.
It should also be noted that AnnualCreditReport.com is a result of Federal legislation. The bureaus did not voluntarily create this process, it was required by the FACT Act.
The best advice is for consumers to review their credit files annually with each repository (it's free) and make sure there are no errors. If errors are found, you can correct them in any of the above described manners at no cost.
In all fairness, it should be pointed out that although hpmfinancial appears as a "Mortgage Agent" - he in fact represents a credit repair company.
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CreditTechnologi
457 Posts |
Posted - 06/03/2008 : 07:08:21 AM
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quote:
Originally posted by Banker0679
credit - that's also the way to get free credit reports everyday. ;)
Absolutely Banker - perhaps not once a day, but at least once a year. It's a great resource. |
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CreditTechnologi
457 Posts |
Posted - 06/03/2008 : 11:33:09 AM
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Sorry Banker, I misunderstood. You were referring to the copies of the report they send updating the consumer as to the status of the dispute? I thought you meant ordering the free original copy of the report, which is limited to one per year though AnnualCredit Report.com.
You're right, they do send multiple copies during the process. |
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