Albert Einstein once said, “Nothing happens until something moves.” Well if you are looking to buy a home, lease a car, apply for credit cards or even look for a job…nothing happens until your credit score moves and moves up!
If you are have had credit issues in the past….simply ignoring what happened does not help. Ignoring a tooth-ache will not improve over time without treatment neither will your credit score!
If you have had credit issues in the past, it’s time you start establishing new (good) credit and start working on deleting old derogatory credit history like late payments, collections, judgments even bankruptcy or foreclosures from your credit report. Remember, with a low credit score Banks and Lenders will be reluctant to lend you money to buy a home, car or even offer you a credit card.
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There are three major credit reporting agencies in the United States: Equifax, Experian and Trans Union. These companies are not government organizations, they do not share information with each other but they do all collect & report data from institutions that offer credit or loans to consumers. But these credit bureaus and your creditors have duty to you… the consumer. The Fair Credit Reporting Act (FCRA) is a Federal Law that regulates how consumer reporting agencies use your information. This law was enacted in 1970 and has been substantially amended a few times. Among other things it restricts who has access to your credit information and how that information can be used.
When you “question” or “dispute” information on your personal credit report these creditors should respond back within a certain period. If no timely response has been received you can request that the item (or items) disputed be removed or deleted from your credit report.
Remember, the “burden of proof” falls on your Creditors and the Credit Bureaus, NOT you! Fortunately, this law was written in your favor and not that of your creditors or the Credit Bureaus. Anything your creditors and the Credit Bureaus CAN’T PROVE must be REMOVED from your credit reports – it’s the law!
The Fair Credit Reporting Act & Fair Debt Collection Practices Actare consumer protection laws that makes this all possible. Removing old collections and judgments, late payments even bankruptcy information from your credit report may help re-build a stronger credit profile and may increase your credit score.
From the author:
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Our program utilizes the latest legislation regarding credit reporting to help consumers remove Inaccurate, Erroneous, Obsolete Unverifiable information like:
- Charge-Offs
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- Judgments
- Bankruptcy’s
- Medical Bills
- Student Loans & MORE…
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