You Are Here: Home - Expert Advice - The Organizer's Toolbox - Tip Sheets

NEW! - Keywords For This Page:   Finances - Credit Cards - Consumer Rights

	Questions About Your Credit Rating
	By Relocation Property Services

Feel free to use this tip sheet / checklist as you tackle your own ""do-it-yourself"" organizing projects. If you would like to REPRINT or DISTRIBUTE this information, please click here for reprinting instructions.

• lists credit grantors or authorized users who have accessed your credit file
• inquiries posted to credit file so you know who has obtained a copy of it
• credit grantors inquire before offering pre-approval credit card application
• only your name and address available, not your credit history information
• not sent to credit grantors or businesses for reasons of credit reporting
• listed for your informational purposes only

• includes identifying information, employment, and items of public record
• includes your credit info and list of credit inquiries
• does not include race, religion, health, or income
• does not include driving record, criminal record, or political preference

• you can dispute the completeness and accuracy of information in your file
• when a credit reporting agency receives a dispute, it must re-investigate
• must record the status of the disputed items in a "reasonable period of time"
• unless it believes the dispute is "frivolous or irrelevant"
• if the credit reporting agency cannot verify a disputed item, it must delete it
• if your report contains erroneous information, the agency must correct it
• if an item is incomplete, the credit reporting agency must complete it

• may offer further explanation for items in your credit file
• loss of job, military call-up, unexpected medical bills, etc.
• you may send a brief statement to the appropriate credit reporting agency
• placed in your credit file and disclosed each time profile is accessed

• federal law regulating credit reporting companies
• in effect since 1971 -- revised FCRA became effective October 1, 1997
• protects your right to review and contest information in your credit profiles
• defines who can access your information and how you are notified

• divorce decree does not supercede the original contract with the creditor
• does not release you from legal responsibility on any accounts
• contact each creditor individually and seek legal release of your obligation
• only after that release can your credit history be updated accordingly

• beware of companies offering to remove accurate information from your file
• accurate information cannot be removed from a credit file
• nothing you can't do yourself by contacting credit reporting agencies directly
• only time will heal a delinquent credit history

• provides information about consumers
• helps you make purchases, secure loans, manage finances, etc.
• makes it possible for stores to accept your checks
• allows banks to offer credit and debit cards
• helps businesses to market products
• a tool for corporations to better manage their operations

 

Would you like to reprint this tip sheet in your publication -- or distribute it to a wider audience? Click here for reprinting instructions.

Click here if you would like to submit a tip sheet or checklist...