Fix Your Credit Report

Do you need to fix your credit report?

It is estimated that 79% of all credit reports contain errors of one kind or another. Is yours one of them? Maybe you don't know. When was the last time you checked your credit report? It is prudent to review your credit report at least once a year. So what happens if you do find an error? You are allowed to fix your credit report by disputing items that you don't agree with. To be protected by the law you should dispute to both the CRA and the party who provided the information.

Laws, such as the Fair Credit Reporting Act (FCRA), mandate that both the Credit Reporting Agency (CRA) - otherwise known as credit bureau - and the organization that provided information to the CRA, such as a credit card company or a bank, take measures to correct incomplete or inaccurate data on credit reports.

To fix your credit report, follow these steps:

Write a letter that states what information you believe to be inaccurate. Clearly identify the items by naming who the account is with and providing an account number. Explain why you are disputing the item and request that it be corrected or deleted. In your letter you also need to include your complete name, address, social security number, and date. Send the letter by certified mail, return receipt requested, so you will have a record that your letter was received. Keep copies of your dispute letters and any other documents that support your position.

Your dispute must be investigated within 30 days, unless your dispute is considered frivolous. The CRA will investigate with the information provider. If the information provider cannot produce valid proof of the data in question then they must notify all nationwide CRAs to correct information in your file and fix your credit report.

These are the general guidelines CRAs must follow:

• disputed information that cannot be verified must be deleted from your file
• Inaccurate information must be corrected
• Incomplete items must be completed.
• If there is an account that does not belong to you it must be deleted.

Upon completion of the investigation, the CRA must provide you with written copies of the results. If your dispute results in a change, they must also provide a free copy of your fixed credit report. Once an item is corrected or deleted, it cannot be placed back on your report unless the information provider proves its validity. If it is verified as accurate, the CRA must provide the name, address, and phone number of the information provider so you can take matters up with them.

Upon your request, the CRA must send notices to anyone who received a copy of your report within the past 6 months. You can also request that your fixed credit report be sent to anyone who received a copy within the last two years for employment purposes.

The protocol to fix your credit report seems easy and may produce desired improvements. However, many times the CRAs and information providers can be uncooperative by using a number of stall tactics intended to intimidate and frustrate you. There are many ways to combat these tactics. Learning them, however, can be daunting and time consuming. You may consider letting those who are well seasoned in the credit repair industry fix your credit report for you.

The team of experts at Legacy Legal Services has a thorough knowledge of the laws that work in your favor and know how to effectively implement them in the dispute process. They have an arsenal of methods to thwart the ploys of the CRAs, producing remarkable results. They have seen a great deal of success in fixing the credit reports of thousands of clients. You could be their next success story. If you want to effectively improve your credit, but don't want to deal with the headache and the hassle, contact Legacy Legal Services. They will do the work for you.