Credit reports have been around almost as long as credit cards. They do have some good points, and they certainly have some bad. They are notorious for making mistakes and for years, until laws changed, they were impossible to deal with as we tried to get errors corrected.
Our world revolves around having excellent credit. Some jobs demand that we have excellent credit and our reports are checked before we are hired. And of course, anyone who is considering lending us money for a mortgage or a car loan, or even a new store credit card – will base his decision entirely on what is found in our credit history. If there’s a lot of negative information, kiss that loan goodbye! The problem is that, all too frequently, the negative information is just plain wrong.
The past decade has seen some valuable changes in the laws that regulate the reporting agencies because consumers had been complaining for years and years that some of this information was wrong, no one would try to correct it, and they were being denied loans and jobs based on mistakes on the reports.
Over the past ten years or so, various types of legislation has been enacted to protect consumers. Credit histories can be viewed online immediately, which is a wonderful improvement over the old method of writing a letter and waiting weeks for the report to be mailed back. These reports were free only if you were denied credit. It seemed as if you had no reason or right to see your report for any other reason!
Today, everyone has a right to get one free credit report every year. With identify theft running rampant throughout the credit industry, it’s vital that everyone have access to their credit reports if they suspect an issue.
If you do find things on your credit report that are wrong, you have the right to get them corrected. Some companies allow these changes to made online if you have a paid membership. Others force you to write letters with substantiating documentation.
Anything you don’t agree with can be added to your report. The problem is that they don’t give you much space to do this, so your information may not have much weight.
If you have bad credit, life can be hard. When you need to get credit, there’s only one thing to do. Get help and credit repair and get fix your credit worries. Learn how now!
categories: credit report,credit score,bad credit,fix credit,money,finance
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