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Repair Your Credit The RIGHT WAY!

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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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Color of Money Live (Washington Post)
Columnist Michelle Singletary will be online to field questions about everything from retirement planning to protecting your credit rating. Bring your personal finance questions to this free-for-all online Web chat.

Many Buyers Opt for Risky Mortgages (Washington Post)
More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest, delaying for years repayment of any loan principal.

Economists Wary of Interest-Only Loans (Washington Post)
More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest, delaying for years repayment of any loan principal. Economists warn that the new loans are essentially a gamble that home prices will continue to...

Kitco - Contributed Commentaries (Kitco.com)
Fed to the rescue! After the tech bubble had popped in 2000, the U.S. economy was tightening and recessionary trends had been unleashed. In order to rescue the economy, the Fed began to drop rates at a blistering pace.

 

 

 

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