Chane Steiner is the president and founder of AAACreditGuide.com, the credit repair authority site. He has helped many people repair their credit and get back on their feet. Chane has reviewed and recommends the following credit repair companies.
The Fair Credit Reporting Act (FCRA) is a federal law that was originally passed by Congress in 1970 to promote accuracy, fairness, and the privacy of personal information assembled by Credit Reporting Agencies (CRAs). It was last amended in December of 2003.
The FCRA allows a consumer to challenge the information on his credit report on the basis of completeness and accuracy. The FCRA also allows consumers to order a full copy of their credit report from any credit reporting agency. At first, consumers had to pay for these credit reports, but under the Fair and Accurate Credit Transactions Act (FACTA) amendment, everyone is entitled to one free copy of his or her credit report every 12 months from each of the big three CRAs. Furthermore, if information on your credit report was used to deny you credit, the FCRA says you have a right to a free copy of that report from the CRA in question.
You have many other rights under the FCRA such as protection from identity theft by placing a “fraud alert” that can last from 90 days to 7 years on your credit reports. But, perhaps the most important rights you have under the FCRA and the reason for this article is your right to dispute inaccurate and erroneous information on your credit report.
You can dispute anything on your credit report, including bankruptcies, charge-offs, collections, foreclosures, judgments, late payments, repossessions and tax liens. Consumers should also look for incorrect personal information such as incorrect names, birth dates, addresses, former addresses, social security numbers, aliases, spouses name, etc. Why is this so important? Keep reading.
A study released by the U.S. Public Interest Research Group in June 2004 found that 79% of the consumer credit reports surveyed contained some kind of error or mistake. Consumers may seek a maximum of $1000 in statutory damages, plus actual damages, punitive damages and reasonable attorney's fees and costs for willful noncompliance with the Act. Any consumer may file suit in state or federal court to enforce the Act.
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Aditya Birla Group, SBI Card partner to offer Co-branded Credit Card
By: Bhavana Jhingan | 22/12/2009The Aditya Birla Group - SBI co-branded credit card will be available to over 28 million customers of Aditya Birla Group companies, namely Aditya Birla Retail, Aditya Birla Financial Services Group (which includes Birla Sun Life Insurance & Birla Sun Life Mutual Funds), IDEA and Madura Garments. The initiative will be led by the financial services arm of the Aditya Birla Group – Aditya Birla Financial Services.
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By: Jake Sully | 22/12/2009The video ads and dozens of junk mail advertisements you get all make big promises. They are real good at marketing the idea that they can get you out of credit. This secret weapon is pretty impressive and you know we aren't trying to market anything to you because this weapon doesn't cost anything, doesn't require you send off for anything and you can find it right in your house and put it to work immediately at no cost.
Removing Charge Offs From a Credit Report
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Why Americans Know Little About the Major Credit Bureaus
By: Chane Steiner | 19/10/2008 | CreditThe average consumer knows very little about the three major credit bureaus - and that's the way the bureaus want to keep it. There's only one thing that's certain and that's the fact they yield major power and control over financial lives. Do you agree this is true, and if so, why is it we know so little about these bureaus?
Tips for Credit Repair
By: Chane Steiner | 17/10/2008 | CreditA less-than-perfect credit score is common today. Missing a single payment can drop your score by as much as 100 points! Fortunately, learning credit repair is possible for anyone willing to pick up a few new techniques. It's a painful fact that credit scores slip quickly, but they can rise just as quickly... if you follow the tips outlined below.
Help Repairing Your Credit
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5 Steps to Repair Your Bad Credit Right Now
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