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Repair Your Credit The RIGHT WAY! |
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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Providers finding profits in identity theft coverage (Sun-Sentinel) After someone used Robert Nighan's credit card to charge $2,000 worth of golf clubs in California, the insurance executive got an idea. Nighan -- who doesn't golf and lives in Hartford, Conn. -- figured out a way to make crime pay legally: Sell an insurance policy to protect against identity theft.
ID Theft Coverage Draws Criticism (Los Angeles Times via Yahoo! News) After someone used Robert Nighan's credit card to charge $2,000 worth of golf clubs in California, the insurance executive got an idea.
ID Theft Coverage Draws Criticism (KTLA 5) Activists say insurers, which share data, are profiting from a need they helped create. After someone used Robert Nighan's credit card to charge $2,000 worth of golf clubs in California, the insurance executive got an idea.
WDEF.com - News 12 - Your Safe Families Station (WDEF Chattanooga) Getting yearly access to your credit report could acquaint you more with your credit score. A survey of 1000 American's found that only one third correctly understands credit scoring, how its computed and what that three digit number says about your credit worthiness.
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