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发布于:2017-5-17 14:10:14  访问:169 次 回复:0 篇
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Laws Used By Credit Repair Companies To Fix Credit Reports
Laws Used By Credit Repair Companies to Fix Credit Reports
Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error. Solving credit problems may take time and patience, but it doesn’t have to be an ordeal.
The Federal Trade Commission (FTC) enforces the credit laws that protect your right to get, use and maintain credit. These laws do not guarantee that everyone will receive credit. Instead, the credit laws protect your rights… by requiring credit agencies and lenders to give all consumers a fair and equal opportunity to get credit and to resolve disputes over credit errors.
This article explains your rights under these laws and offers practical tips to help you solve credit problems.
Your credit restoration report contains information about where you live, your bill payment history, and whether you’ve been sued or filed for bankruptcy or have outstanding tax liens. Consumer reporting companies sell the information in your report to businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.
A United States federal law, known as the Fair Credit Reporting Act (FCRA), promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies.
Under the Fair Credit Reporting Act:
1) You have the right to receive a copy of your credit report. The copy of your report must contain all the information in your file at the time of your request.
2) Every credit reporting agency is required to provide you with a free copy of your credit report, at your request, once every 12 months. Consumers from coast to coast will have access to a free annual credit report if they ask for it.
3) Under federal law, you’re also entitled to a free report if a company takes adverse action against you, like denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
4) Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period. You also have the right to know who asked for your report within the past year – two years for employment related requests.
5) If a company denies your application, you have the right to the name and address of the consumer reporting company they contacted, provided the denial was based on information given by the consumer reporting company.
6) If you question the accuracy or completeness of information in your report, you have the right to file a dispute with the consumer reporting company and the information provider (that is, the person, company, or organization that provided information about you to the consumer reporting company). Both the consumer reporting company and the information provider are obligated to investigate your claim, and responsible for correcting inaccurate or incomplete information in your report.
7) You have a right to add a summary explanation to your credit report if your dispute is not resolved to your satisfaction. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past.
Now that you know your rights under this federal law, this should also give you a little insight into how credit repair companies are able to assist you.
Reputable credit repair companies will never promise specific score improvements, guarantee that specific items will be deleted, that every negative item will be deleted or charge you an upfront fee for the actual credit repair services that they will be performing.
Most credit repair companies usually charge an account setup fee that ranges from $99-$299, and then most also charge you a monthly membership fee that’s typically between $79-$129 per month. Many of these credit repair companies will only dispute 2-3 items per month, so they can continue earning the monthly membership fees for anywhere from 6, 12, 24 months or even longer!
The most reputable credit repair companies often charge smaller account setup fees; offer to dispute all negative items that you feel aren’t being reported 100% accurately, completely or that are verifiable; and typically only charge $50 per negative item that’s successfully deleted from your credit reports.
Lee Kendrick, founder of CreditGuardUSA.com, operates his company on the principles of providing high-quality credit repair services, education and speed… to help you improve your credit as quickly as possible.
Unlike most other companies, they firmly believe in helping you get a fresh start by fixing your credit and getting you quicker credit score increases… without waiting as long as a year or more.
You can find more information about CreditGuardUSA.com, its services and reviews at https://facebookcom/CreditGuardUSAInc.
Lee Kendrick started repairing credit for families that were hit hard by two (2) major manufacturing facility closures in a small Eastern Kentucky town. It was at this point that he quickly realized that bad credit truly doesn’t define someone’s character… and that life events like job loss, auto accidents, medical emergencies, divorce, etc. are the major culprits behind most people’s credit issues. Since then he has helped more than 10,000 clients throughout his 25-year credit and finance career, and he considers it his mission in life to help as many families as possible… and to educate these families along the way.
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