Free Credit Bureau Report

Duwayne Mcclendon asked:




When you are repairing you want to make sure all information is correct and there are no duplicate items on your credit report. I had noticed an old HSBC Tax Advance showing on my report twice, one was listed as being current with a $0 balance and the other had a balance of $441 and 120 days late! I had seen this on my report and at first was just going to wait it out until the 120 day late listing was updated to current with hopes my score would be higher with two accounts listed as current.

Today my patience got the best of me, I called Transunion which was the listing agency for the duplicate accounts and requested a deletion. At first the operator said “ok sir I will place the duplicate account for dispute,” I immediately told him I did not want to place a dispute but for him to delete the duplicate listing now. It was in my favor that both accounts had the same account number and that the 120 day listing was updated 11/2007 and the current listing was showing updated 12/2007.

After about 5 minutes the representative for Transunion confirmed the duplicate listing had been removed and if I needed any more assistance. I kindly thanked the representative of Transunion and proceeded to complete my daily credit pull from TrueCredit. WOO HOO! Account deleted and my score jumped 14 points!

When you are repairing your credit be persistent and make sure you have all your facts regarding the accounts when you call or write any of the three credit bureau (Equifax, Experian, Transunion). You have to legitimately prove the account is reporting improperly for the credit bureau to remove the listing for them to remove it.

Virginia

Jessica Graham asked:




When a person desperately needs a loan, the fine line that determines individuals’ approval and denial is his credit rating. A credit rating is a score given by credit bureaus in accordance to the financial performance. For the last few years, when they have been good debtors, a positive score is received. But whenever late re payments and skipping on fees happen, negative scores are the result. All financial activities are recorded in everyone’s credit history.

Upon application at banks and lenders, these institutions dissect all credit ratings. And according to their standards, a person’s score will determine his viability as a credit risk. If a person’s score is 700 to 850 then it is definitely a winner. Without any fuss, they get approval of whether a car loan, personal loan or credit cards. But most importantly, they get to have a lower interest rate and more lenient repayment terms.

A score of 620 to 699 will get a loan but for sub-prime insurance premiums and higher interest rates. But for a score of 500 to 619, qualifying for a loan is a blurry chance. If it ever gets approved, it is usually on loans for bad credit. This means security pledge before an approval. Usually it requires valuable properties such as vehicles, real estate and so forth. It is also on a much higher interest rate and stricter payment terms.

This is the reality of credit scoring. If people are not careful enough, they will lose their chance for financial assistance. The best thing to do is for them to be aware of their chances. They should never apply for a loan blindly. To keep them updated on their credit score, they must get a copy of it yearly.

Every year, credit authorities hand out a free copy of an individual’s credit report. It has an updated report of their FICO or credit score as well. There are websites that provide a free copy of a credit report. Sites such as Truecredit.com and Equifax.com are examples.

Credit reports are important tools that can help people manage their credit rating. In this copy, they can keep track of all the payments they have made. If there is an error, they can correct it accordingly. This error might have greatly contributed to their negative score. If this is corrected, their score will be up some notches. Then they could have a better chance for loans.

Evelyn