Fair Credit Reporting Act: What You Should Know About It?
The Federal Fair Credit Reporting Act (FCRA) is designated to promote accuracy, fairness, and privacy of information in the files of every "consumer reporting agency" (CRA) or Credit Bureau. Learn what the law says and repair your credit today! Most CRA are credit bureaus that gather and sell information about you, such as if you pay your bills on time or have filed bankruptcy. They sell this information to creditors, employers, landlords and other businesses; and that's why you should be sure that the information they have on you is accurate and correct. You can find the complete text of the FCRA 15 U.S.C. 16-81-1681u, at the Federal Trade Commission's website (www.ftc.gov) but here you can find the summary of your rights. 1. You must be told if information in your file has been used against you 2. You can find out what is in your file 3. You can dispute inaccurate information with the CRA 4. Inaccurate information must be corrected or deleted 5. You can dispute inaccurate items with the source of the information 6. Outdated information may not be reported 7. Access to your file is limited 8. Your consent is required for reports that are provided to employers, or reports that contain medical information 9. You may choose to exclude your name from CRA lists for unsolicited and insurance offers. 10. You may seek damages from violators. Copyright © 2005 Excellentcreditnow.com - All Rights Reserved Carmen Shearer is the President and CEO of S&S Financial Solutions. She has worked in the finance arena for over 10 years and holds two engineering degrees and an MBA from a branch of Harvard Business School. S&S Financial Solutions offers you credit repair tools and information with a lifetime guarantee. For more credit related information go to: http://www.excellentcreditnow.com
Related News
|
 |
|
|
RELATED ARTICLES
Building Business Credit
Most businesses want to be able to borrow money when they need it, without the owners having to guarantee the loans personally. This means less risk to the owners. But wanting to get credit for your business and actually getting it can be two different things.
Why Should You Use Credit Cards
Believe it or not, the way society, especially the commercial side, is set up these days, the only alternative to using credit is to pay cash for everything. But it's actually quite hard to do that. For example, if you want to rent a car, you have to have a credit card, even if you pay cash for the rental. The reason for that is because once a company has your credit card with your signature, they'll never lose money. If you default on anything, or if extra charges come up later, all they do is charge your credit card. Many companies require a credit card before they'll do any kind of business with you, for that very reason.
Credit Scoring: What You Dont Know Can Hurt You
You've probably heard the term credit scoring. You may have some idea that your credit score can have an effect on your life. For example, you may understand that when you apply for a mortgage, the mortgage company will check out your credit score.
Simplifying Your Search For a New Credit Card
Today, selecting the proper credit card can be a bit confusing to say the least. There are literally hundreds of offers from the major institutions eagerly competing for your business. The easiest way to shop for a credit card is to break them down into categories. There are seven major categories that all credit cards fall into. Each category is listed and explained below. Once you identify the proper category, simply narrow down the offers to the ones that best suite your particular needs and lifestyle.
What You Didnt Know About Your Credit Card Numbers
Have you ever really looked at your credit card and tried to figure out what that huge string of numbers really means? Do these card issuers have so many customers that your account number has to be 16 digits long?
Annual Credit Report and Free Annual Credit Report
Getting an annual credit report review has been the advice of many financial managers as they guided their customers to be aware of all information on credit reports. Would the idea of a free annual credit report be good news? Consumers are thrilled with the new federal mandate that demands the three major national credit bureaus offer a free annual credit report to anyone requesting copies of their personal credit reports. An annual credit report is available from each of these bureaus.
Credit Cards for Home Business
It is wise for you to have a company credit card like a VISA card. How can you find the least expensive bank card for your business? You may decide to use a VISA card from your local bank. Check the interest rate on unpaid balances. It is excessively high? Is it in line with other cards? If you are not sure, write to:
Getting Married? What Are The Finance and Credit Implications?
There is a big difference between looking after your own finances while living alone, or with parents, and living with a partner. The transition can be very difficult, especially if both partners are strongly independent, or one partner is financially weak and the other strong. In fact, it is an area of a new relationship that has many pitfalls if you do not set the ground rules from the start.
Beware of Falling Minimum Payments
If you opened a credit card statement recently and were pleasantly surprised to find that your minimum payment due was lowered, don't be so quick to "jump for joy". What may appear as a small boost to your monthly budget is actually the rock that can weigh you down in debt for a lifetime.
How To Protect Yourself Against Credit Card Fraud
In the high tech world of today, credit card fraud is an ever increasing problem.
Understanding the Function of Credit
What is Credit?
Grants, Loans, Free Credit Cards And Credit Repair: The Whole Truth And Nothing But The Truth
You got creditors calling you everyday. You could lose the car or house. Your teetering on the edge financial ruin - then you see an ad that may safe your butt! Typical headlines say something like "Millionaire reveals Hidden Cash Sources, or help for people in debt up to their eyeballs!"
19,178 Identity Theft Victims Per Day - Are You One Of Them?
Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. Are you likely to be affected?
It Is In Your Best Interest To Do The Math On Your Credit Card Interest
If you begin foaming at the mouth once a month when you receive your credit card statement, join the millions of Americans that are foaming along with you. There is a growing outrage at the seemingly endless journey towards eliminating the balance on your credit card and that is due primarily to the extravagant interest rates charged by credit card companies.
Making Sense of Credit Card Fees
In addition to the APR (annual percentage rate) and the finance charges, most credit cards have a number of 'fees' associated with their use. Some fees are unavoidable with a particular card (like an annual fee or a program participation fee), while others are triggered by certain circumstances. The most common fees are listed below. To get a better idea of what your credit card may cost to use over the course of a year, check your card's terms and conditions and your user agreement to see which fees may apply to you.
Your Credit Card May Be Costing More Than You Think!
Do you know what your credit card is truly costing you? Many
people assume that they do, but aren't familiar with the
hidden fees that many credit card companies are charging. In
fact, if you don't keep close tabs on your credit card, you
may end up paying hundreds of extra dollars per year-without
ever really knowing it!
Learning the Disturbing Facts about Credit Card Debt
When I received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I'm getting somewhere in life. This credit card company thinks I'm worthy of 500 dollars in credit. So I made my monthly payments like a good consumer and watched my credit limit grow. I thought boy this company must think alot of me to take such a risk. I however had no idea how the money came into existence. All I cared about was that as long as when I slapped the plastic down I was approved. Like most young people I had no idea what an interest rate even was much less how it effected my monthly payments. I was like a lot of kids in America today, my parents were not a big part of my early adult life and so I really didn't have much guidance when it came to making financial decisions. The lessons I learned were hard and I continue to learn as each day passes.
Bad Checks, Bounced Checks, & NSF Checks
Negotiable instruments like checks and drafts have become an indispensable part of any business transaction today. As a result, it has become increasingly important to safeguard a business against financial losses arising from the receipt of fraudulent or bad checks.
Like It Or Not, You Have A Score To Settle!
Like It Or Not, You Have A Score To Settle!
(Part 1 of 2 on Credit Scoring)
Bailiffs & Council Tax - Knowing What To Do
This article is about bailiffs who may call trying to collect Council Tax or Community Charge (Poll Tax) arrears. If a bailiff has contacted you to collect another sort of debt the law might be different.
|
