Inaccuracies In Your Credit Report
When the investigation is complete, the credit reporting agency must
give you the written results and a free copy of your report if the
dispute results in a change. If an item is changed or removed, the
credit reporting agency cannot put the disputed information back in
your file unless the information provider verifies its accuracy and
completeness, and the credit reporting agency gives you a written
notice that includes the name, address, and phone number of the
provider. If you find errors in your credit reports, you should take steps to
correct your reports. Under federal law, both the credit reporting
agency, and the organization that provided the information to the
agency, such as a bank or credit card company, have responsibilities
for correcting inaccurate or incomplete information in your report. To
protect all your rights under the law, contact both the credit reporting
agency and the information provider.
If you find errors in your credit reports, the credit reporting agencies
must investigate the items in question as described by the Federal
Trade Commission, usually within 30 days. They also must forward all
relevant data you provide about the dispute to the information
provider. After the information provider receives notice of a dispute
from the credit reporting agency, it must investigate; review all
relevant information provided by the credit reporting agency; and
report the results to the agency. If the information provider finds the
disputed information to be inaccurate, it must notify all nationwide
credit reporting agencies so they can correct this information in your
file. Disputed information that cannot be verified must be deleted from
your file.
If your report contains erroneous information, the credit reporting
agency must correct it.
If an item is incomplete, the credit reporting agency must complete it.
For example, if your file showed that you were late making payments,
but failed to show that you were no longer delinquent, the credit
reporting agency must show that you’re current.
If your file shows an account that belongs only to another person, the
credit reporting agency must delete it.

You’ll find your credit report includes extremely detailed information on
whether you pay your bills on time, what credit you have applied for,
who has given you credit, who has turned you down. Your history of
repaying bank loans, utility bills and the government will also be there.

Your credit report lists the following information for each of your credit
accounts:

Date opened
Original loan amount or credit limit and interest rate
Scheduled monthly payment amount
Date last payment was made
Balance owed
Amount past due
Payment history for the last 24 months

Credit inquiries from companies that have checked on your credit are
also listed – these give potential lenders an idea of how much credit
you have sought, successfully and unsuccessfully. Make sure the
following basic facts are correct; mistakes can simply be the result of
spelling errors, typos, outdated information, or name confusion and also check to make certain no items are in your report longer than the
law allows.

Your name
Your date of birth
Your Social Security number
Current and previous addresses
Current and previous employers
Current accounts
Account’s that have been closed

http://clean-credit-secrets.com

These agencies are not affiliated with the government in any way.
They are for-profit corporations that sell your personal information for
money. The agencies make money by selling credit reports to credit
grantors who want to see your credit history before they decide to lend
you money (for example, whenever you complete a credit application
for a loan, mortgage or major purchase). If you have shown any
tendency to pay late or to default on paying your financial
commitments, many credit grantors’ computers are programmed to
immediately reject your application.