insurancelawcase asked:


A judgment was awarded against me and a small claims court put a entry in my credit report.

If I pay the creditor, will the court remove the entry? Creditor agreed to sign a letter stating that there are no open disputes between me and them (as long as I pay them) which I then can send to the credit buerua and aske them to remove it.

Is it possible? Has anyone done it?

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Ryan asked:


If you’ve recently discovered that that you need to dispute credit report errors, you are not alone. Research shows that 75 percent of credit reports have errors on them, and 1 in 4 credit reports include errors that actually have a negative impact on your credit score. This is no surprise considering that credit report agencies have to manage data for millions of people on a daily bases, and rely on lenders and creditors to provide accurate information.

As a consumer, however, your best interest is protected by the Fair Credit Reporting Act, which mandates that if you dispute credit report errors, any information that is erroneous must be acknowledged and removed from your credit report within 30 days.

So how do you go about fixing errors on your credit report? The first thing to do is to access copy of all three of your credit reports from each reporting agency, Trans Union, Equifax and Experian. You will want to compare the information on all three reports since it is likely that some information will be included on one report but not the others.

Once you have reviewed your credit report and found the errors, you will want to contact the credit reporting agencies in writing. Highlight each of the errors on your credit report and attach a copy to your dispute letter. Keep a record of everything you send in case you need to refer to it when following up.

The credit reporting agency is then obligated to contact the credit/lender that indicated the negative information to validate your claim. If the creditor/lender is unable to come up with conclusive evidence that supports their claim, the items will be removed from your credit report and your credit score will immediately improve.



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Sophie Wilson asked:


There are ample chances of making financial mistakes, particularly when you are ignorant about the importance of good credit record. Having a good credit record facilitates and paves the way for you to derive not only loans easily, but also helps you in employment or to get a good insurance cover. So, to get access to better opportunities, you must have a better understanding of your financial position. In this context, procuring a free annual credit report will be of great help.

Free annual credit report is a document, where in all the details of your financial is put aside collectively, so as to help you to safeguard your financial interests. To procure the credit report, there is no need to pay any fee, as it is absolutely free. The credit report, in general can be procured on an annual basis from the 3 credit bureaus, which are namely Transunion, Equifax and Experian and that too in accordance with the federal law.

The annual credit report comprises of all the details such as personal and professional information along with the various financial activities. It is on the basis of these details that creditors levy the terms and conditions while approving any loans. On a stronger note, it helps you keep a track on your credit score. If the information provided by the merchants and lenders are misinterpreted, it will definitely show in the credit report. This way, you will be in a position to keep your credit record clean. Moreover, it helps you to identify areas, where you need to make some actions, so that you can improve the credit score.

To procure this report, you can very well use the online mode. Online application to obtain this report is easy and simple. All that you have to do is to provide the correct details and in an instant, the report will be available to you. Besides, you will have the luxury top derive this annual report from any location and that too at any point o f time.

Free annual credit report helps you to stay alert on your financial condition, which of course is a good idea.



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Joe Goertz asked:


In this country, there are three major credit bureaus: Experian, Equifax and Trans Union. They offer information to lenders about a person’s credit score. The lower your credit score, the less likely you are to get credit. Each credit report comes with “score reason codes” to explain why your credit score is where it is.

It is up to you to know what is on your credit report and keep the data up to date. You might have paid your bills on time, but your credit report may show that your credit is less than perfect. You may have had a credit dispute with a merchant that was corrected, but not shown on your report. You may have a bankruptcy that was not properly recorded. You may also have experienced credit fraud.

You can fix your credit profile. You can make sure that you aren’t carrying more debt than is reasonable for your income level. Avoid late and non payments. Make sure that there are no judgments or liens against you. You should also avoid co-signing loans because they are considered your financial liability. If the co-signer defaults, it will be your responsibility to replay the loan. You should avoid unnecessary checks of your credit. Each credit inquiry is recorded and remains on the books for two years. Lenders seeing too many inquiries may think that you are unable to support your current debt and are looking for more credit to support it. Having excessive unused credit is not good. A lender will check to see how much credit you actually have. If you have too much, the lender might worry that you will use up all your credit in a spending spree after you secure a new loan or mortgage.

It’s important to see your credit score and keep it up to date. Most lenders are concerned about your credit activities during the past year or two. You want to make sure the report is accurate for this period and contains no errors. Depending on how inaccurate your credit report is, you may not be given additional credit. This is especially crucial if you are applying for a mortgage. It is not impossible to get a mortgage with less than a perfect credit report, but the amount of the loan and the interest on it will be higher if the lender decides you are a risk.

How do you keep your credit report up to date? There are services, such as Equifax, that will provide a credit report to you and advise you on how to make changes. They will usually update you twice a year on your credit history. They may even advise you when you are approaching your credit limit. Under federal law, you are entitled to a free annual credit report from Experian, Equifax and Trans Union. You should go to http://www.annualcreditreport.com for more details.

Make sure that when you decide to fix your credit report that you do it the right way. The Federal Trade Commission (FTC) warns consumers to beware of companies that guarantee that they can remove late payments, bankruptcies, or similar information from your credit report. Stay away from companies that charge a lot of money to repair credit, keep asking you to verify information that you have previously verified, refuse to give you their address or push you to make a decision immediately.



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Allan Hausnork asked:


Credit reports are used by companies to decide how much to loan you and what interest rates to charge you. They provide information on your credit history such as loans, payments, late payments, and due payments to those who you seek to borrow money from. Using the credit report specialized firms create a credit score, or rating, based specifically on you. When money lenders are making decisions about what to loan you, the credit reports is what they refer to. Therefore having a good financial report is helpful when trying to get a loan - good history reports will grant you access to higher loan amounts, reduced interest rates, and preferable repayment plans. They can also help you to keep an eye on your credit situation should you want to take a loan out in the future.

Now that you know the importance of financial reports it’s time to start looking at the ways you can get hold of a free annual report through the internet. In the USA the Fair and Accurate Credit Transactions Act was brought into effect to ensure free annual reports would be provided by Experian, TransUnion, and Equifax within a time limit of 12 months to anyone who wanted to get one. The main reason behind this act was to allow all citizens of the USA to see what information credit bureaus have about them. It also allows people to better monitor the state of their financial situation making it beneficial to managing national debt. Other benefits this act has brought are reductions in identity theft and also reduced errors in your reports.

Since the act has come into effect Experian, TransUnion, and Equifax have made a website through which it is possible to request your free annual report. There are three reports available to you - one from each of the companies. Getting them all at once can be useful, but if you order them separately it’s possible to spread out the reports you receive through the year so you can get a better sense of how your financial report changes over the months. This spread-out approach allows you to see clearly the effects of any significant financial transactions that you have made on your report score. This can be a useful tool in getting a better understanding of how financial changes affect your credit report. For example, if you’re planning to take out a loan for the purchase of a new home you might want to get a credit history report before doing so to ensure you are in a position to receive a favorable loan rate, and then get another report afterwards to see how taking out the loan has affected your credit score.

The internet provides easy access to this free credit history report facility. However, it is important to exercise caution when using the internet for this purpose. If you try to use another website for free credit history reports you may be lured into spending money when you shouldn’t.



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??Stac???  asked:


Cars and credit cards that I paid off 7 years ago are no longer on the report, are they?

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Lisa Nichols asked:


Fix errors on your credit report to prevent future problems. Credit report errors can result in an incorrect credit score- or worse. Tips to keep credit reports clean include reviewing credit card statements and credit report monitoring to prevent errors and stay safe from identity theft.

Reviewing Credit Card Statements to Unearth Mistakes

Review credit card statements monthly to stay on top of credit report problems. Errors are unlikely to appear on a credit card statement. However, it’s important to review credit card bills to make sure there are no mistakes or suspicious charges. In addition, promotional or introductory annual percentage rates (APR) will eventually expire. Knowing when an APR will expire can help decide whether to switch to a low interest credit card or a balance transfer card to defer the additional charges and save money. Late payments, missed payments or late payments on other lines of credit can also result in an unexpected increase in interest rates. Reviewing credit card statements can help mitigate sudden, unplanned expenses and avoid problems with identity theft.

Monitor Credit Reports to Avoid Problems

Monitor a credit report to avoid problems. An inaccurate credit score can result in getting turned down for an apartment or a job. It may also mean getting turned down for insurance, a loan or a credit card, or paying more in fees or interest rates if approved. Monitoring credit reports for errors can help mitigate problems and speed up the approvals process for new lines of credit.

Protect Yourself From Identity Theft by Monitoring Your Credit Report

Carefully monitoring a credit report and credit card statements can help protect you from identity theft. Unusual, unfamiliar or suspicious activities on a statement should be immediately reported to the credit card company. In addition, if identity theft is found through reviewing credit card statements, the credit reporting agencies should be notified. A credit report monitoring service identifies suspicious activities and quickly notifies you so you can decide if you need to take further action to protect yourself from identity theft.



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Bruce Liu asked:


Your credit report contains important information about you. It generally includes facts about your identification data, your bill-paying habits, inquiries and public record information.

Credit bureaus compile and sell your credit information to businesses, which use it to evaluate your credit applications. Therefore, it is important that your credit report contain complete and accurate information.

Under the Fair Credit Reporting Act, you have the rights to dispute the completeness and accuracy of information in your credit files.

If you find information in your credit record that you believe is inaccurate, what you need to do is to complete the special investigation request form that comes with your credit report. Follow the form’s instructions to fill out all of necessary information.

You may also want to attach a letter to your completed form, dated and signed by you, and along with copies of any documentation you have that helps prove the error in your credit report.

The documentation might include copies of canceled checks, sales receipts, account statements, or previous correspondence between you and the creditor involved.

Attaching a letter to the investigation request form is always a good idea if you don’t think that the credit bureau’s investigation form gives you enough space to explain why you think there is error in your report.

Keep a copy of your completed investigation request form, letter, and backup documentation. They provide you with the records of what you said and when you said it. Also, the date on letter will let you know when you should have heard back from the credit bureaus.

Once you have completed the investigation request form, mail it, along with your letter, and copies of any documentation. Send it by certified mail with a request for a return receipt. When you get the signed receipt back, file it with the rest of your credit record information.

When a credit bureau receives a dispute, it must investigate and record the current status of the disputed items within a “reasonable period of time,” — between 30 and 45 days, unless it believes the dispute is “frivolous or irrelevant.”

If the credit bureau cannot verify a disputed item, it must delete it.

If your report contains erroneous information, the credit bureau must correct it.

If an item is incomplete, the credit bureau must complete it.

If a investigation does not resolve your dispute, the Fair Credit Reporting Act permits you to file a statement of up to 100 words to explain your side of the story.

The credit bureau must include this explanation in your credit report each time it sends it out. Credit bureau employees often are available to help you word your statement.

Be aware, however, that when negative information in your report is accurate, only the passage of time can assure its removal.

Credit bureaus are permitted by law to report bankruptcies for 10 years and other negative information for 7 years.

Also, any negative information may be reported indefinitely for use in the evaluation of your application for:

- $50,000 or more in credit;

- a life insurance policy with a face amount of $50,000 or more;

- consideration for a job paying $20,000 or more.

© 2005 Bruce Liu. All rights reserved.



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jenjonessb asked:


A prior cable provider has a collections claim on my credit report for $35. When moving away from the area (2 years ago) they do not show that I returned the cable modem (which I did). I was not aware of this until I went to refinance my auto loan. I called the company two weeks ago today and they were looking into the issue. Since then I have spoke to 5 different people and no one is calling me back - and I have called 30+ times where the call is unable to connect because the lines are all full.

I want this off of my credit report because it is hurting my ability to refinance at the low rate. I tried disputing it with Experian and it came back as a confirmed current claim.

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Ryan asked:


If you are about to dispute credit report errors, here are some tips to get the results you want quickly.

1. Review your credit report periodically and be prepared to dispute credit report errors. It is common for information on your credit report to be inaccurate, and it can affect your ability to get a loan and the amount you have to pay to borrow money.

2. Only order your credit report form the official Annual Credit Report site. Any other website that offers a “free annual credit report” only does so when purchasing one of their products or signing up for a free trial that will automatically bill you after 30 days. The Annual Credit Report site is completely free and allows instant access to your current credit report.

3. After reviewing your credit report contact the credit reporting agency, in writing, about the information you believe to be inaccurate. Send a copy of your credit report to support your claim, and keep copies of all documentation for yourself.

4. Send your letter via certified mail so you have proof that the information was sent and a record of when the reporting agency received it. By law they have 30 days to review your claim and get back to you with a final determination.

5. If your claim is accepted, the information on your credit report will be removed and your credit score should improve. Upon request, the credit reporting agency must send a notice of the corrections to anyone that received your report within the last 6 months.

6. Keep an eye on your credit report going forward. Just because you dispute credit report errors and win, that does not prevent the creditor or lender to put the negative information right back on your file. If this occurs, you will have to start the process all over again.



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