Free Credit Bureau Report

Ann Richter asked:




You’ve decided that you want to try to repair your credit rating, but the cost of having a professional help you has made you stop and reconsider. Good credit is of vital importance, and you should definitely do whatever you can to fix it. Why pay a credit repair service for something you can so easily do with very little trouble? You can write your own free credit repair letter that will probably do more good than one written by a professional, because you’ll be putting a lot of yourself into the letter.

What to Write?

Before you can write a letter, you must first know what to write about. You can accomplish this by getting a copy of your credit report. It’s free for the asking, and you can choose from any of the three major credit bureaus who handle claims in the U.S., although for more through credit repair, you need to get a copy from each. Sometimes the different credit bureaus will each have different information on you, and you want to make sure to review it all before proceeding.

Once you have a copy of your report, sit down and analyze it. What do you see that is bringing down your credit score? Do you see any negative listings that you can definitely dispute? Mark these in such as way so that you can come back to them easily as you write your letter. Another thing you might want to study before writing your letter is a copy of the Fair Credit Reporting Act. You would be surprised as to how many violations you can spot in a typical credit report once you know what to look for.

In your letter, you should list the negative items from your credit report one by one. Beneath each, clearly state that you are disputing the accuracy of this debt. Be accurate and through as you compose your letter – don’t give the credit bureau any form of reasonable doubt. If it’s written there in black and white, dispute it! You must look out for your own interests in this case.

Be sure to include all pertinent information about yourself in your letter. Of course, you will send the usual name, address, zip code and phone number, but since your information is stored in a computer, other information is needed as well. Your Social Security number is most likely used as an identifier, so make sure you include it. Make a copy of your driver’s license so that your identity will not be questioned.

Make photocopies of the information you are going to send out, and take the time to think how you are going to keep track of the replies that will come in from the credit bureaus if everything is not cleared from your records on the first letter writing campaign you set out on.

Your free credit repair letter will make you sincerely glad that you did this all yourself, for you will have a feeling of satisfaction of a job well done once your credit record is clear and clean.

Bertha

Gary Gresham asked:




Understanding credit report scores is important when you see your credit report because you need to be able to make some sense of it.

Your credit score is used by anyone loaning you money such as credit card companies, home loan lenders, auto loan lenders and finance companies. They all use your credit score to determine your credit risk. The interest the lender charges you is based on your credit risk. So you can see how understanding credit report scores is information that can save or cost you money.

You need to find out what your credit score is before you talk to any lender in case there is something on your report that you may question. You don’t want the lender to find a mistake that you aren’t aware of. If you find a mistake, it takes at least 30-60 days before you see corrections in your credit reports and scores.

You have probably heard that checking your credit will bring down your score. But checking your own credit report and score is counted as a “soft inquiry” and doesn’t harm your credit score at all. Only “hard inquiries” from a lender or creditor, made when you apply for credit, will bring your credit score down a few points.

Your credit report should have the three main credit services Experian, Trans Union and Equifax and each service will give you a different credit score.

The credit scores will range between 300 and 870 with each credit service giving a different score. The higher your score is the better, because as your credit score increases, your credit risk decreases.

The average high approval score where the best interest rates are offered is 680 or above. The credit score the lender uses comes from the middle score or an average of all three scores is sometimes used.

Don’t be surprised if you find an error once you get your credit report. Statistics show that 70 percent of credit reports contain serious errors. Those errors are what you want to clear up because they will affect your credit score.

If you find a mistake, you have the right to dispute the information free of charge. Contact the credit bureau that provided the information and dispute the inaccurate information.

Below are the names, addresses, phone numbers and web sites of the three credit bureaus TransUnion, Experian and Equifax.

Equifax Credit

P.O. Box 740241

Atlanta, GA 30374

Equifax 800-685-1111

http://www.equifax.com

TransUnion

P.O. Box 1000

Chester, PA 19022

Trans Union 800-888-4213

http://www.transunion.com

Experian

P.O. Box 2002

Allen, TX 75013

Experian 800-682-7654

http://www.experian.com

You can also contact the creditor direct and ask that the corrected information be provided to the credit bureaus.

If you suspect any fraud, contact all three credit bureaus immediately and place a fraud alert on your report. Then, contact your credit card companies and bank to protect your accounts.

Understanding credit report scores and checking your credit report at least once a year will keep fraud in check and keep your credit score safer.

Copyright