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Building Better Credit And Credit Repair Newspapers, radio, TV and the Internet are filled with advertisements that offer—for a fee—to erase accurate negative information in your credit file. The scam artists who run these ads can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit record. This publication is designed to help you understand and legally improve your credit report through the right way to credit repair. This publication has five sections:

Consumer Reporting Agencies If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The most common type of CRA is the credit bureau. The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a consumer report.

he Fair Credit Reporting Act (FCRA) The FCRA is designed to promote accuracy and ensure the privacy of information used in consumer reports. Recent amendments to the Act expand your rights and place additional requirements on CRAs. Businesses that supply information about you to CRAs and those that use consumer reports also have new responsibilities under the law. Here are some questions consumers commonly ask about consumer reports and CRAs—and the answers.

 
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MS sufferer becomes double victim (Galax Gazette)
While the woman accused of stealing her identity, ruining her credit and raiding her checking account sits in the New River Valley Regional Jail, Nina Leckliter is where she almost always is.

Stay alert for sinister phishers (Richmond Times-Dispatch)
This week's column is a mish-mash of stuff you need to know. At the end, there are two letters from readers, one about my column on online bill payment and the other on Allstate's settlement with customers that it may have overcharged after secretly peering at their credit reports.

Grads: It's time to start your financial lives (Detroit News)
Attention, graduates: Your ride on the gravy train called Mom and Dad has arrived at its final destination. Welcome to Poorville, right here on the branch line between Zilch Town and Bupkis City.

Mattress Picks You Can Sleep With (BusinessWeek)
Does a $10,000 product give you better slumber than one a third its price? Here are some tips for making picks that rest well with you

 

 

 

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