You see the ads in newspapers, on television and on the internet. He listens to them on the radio. Receive pamphlets by mail, emails and even receive phone calls to offer credit repair services. Everyboby says the same:
Do yourself a favor, and in passing, save some money
This type of statements is not created: it is very likely that they are signs of a scam . In fact, lawyers working for the Federal Trade Commission (FTC), the national consumer protection agency, say they have never seen a legitimate credit repair operation make such statements. The truth is that there is no quick solution to recover your credit worthiness. You can legitimately improve your credit report, but it will take time, a constant effort and you will have to stay firmly attached to a personal plan of repayment of your debts.
- Your rights
- Do it yourself
- Exact negative information report
- The Law of Credit Repair Organizations
- Report credit repair fraud
- Where to get legitimate help
You can request your reports from each of the three companies at the same time or you can stagger them throughout the year.
- It costs nothing to dispute errors or outdated data from your credit report. Both the consumer reporting company and the information provider (the person, company or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To enforce all your rights, contact the consumer reporting company and the information provider.
letter model . Consult previously if you will receive a letter written in Spanish, otherwise, use the model in English. Attach copies (NOT originals) of all the documents that support your position.
In addition to including your full name and address
In your letter you must identify each of the items in your report that you intend to dispute, establish the facts and the reasons for their questioning and ask that they be corrected or eliminated. If you wish, you can also include a copy of your credit report by marking the questioned items in a circle.
Send your letter by certified mail with “acknowledgment of receipt” to be able to document that the consumer reporting company received your correspondence. Keep copies of your dispute letter and the attached documents.
Consumer reporting companies should investigate the items you dispute within 30 days – unless they consider your dispute unfounded. They must also send you all the relevant data that you have sent about the inaccuracy of the information to the organization that provided it.
When the information provider receives a dispute notification from the consumer reporting company, it must investigate and review the relevant information and report the results of the investigation to the consumer reporting company. In the event that the investigation reveals that the disputed information is inaccurate, you must notify the consumer reporting companies in the country so that they can correct it in their respective files.
Once the investigation is completed
The consumer reporting company must communicate the results to you in writing, and if a change occurs as a result of your dispute, you should also send them a free copy of your credit report. If any data is changed or deleted, the consumer reporting company may not reposition the disputed information in its file unless the provider of the information verifies that it is accurate and complete.
The consumer reporting company must also send you a written notice detailing the name, address and telephone number of the information provider. If you ask for it, the consumer reporting company must send notices to notify the corrections made to all those who have received your credit report during the previous six months. You can also request that a corrected copy of your report be sent to all those who have received your credit report for employment purposes during the previous two years.