THE ALDER LAW FIRM
You Will Feel Better After Talking With Us
Call For a Free Consultation
1-800-706-7863
Call For a Free Consultation
1-800-706-7863
Credit Repair
You will feel better
after talking with us
after talking with us
The Federal Fair Credit Reporting Act (FCRA) is designed to promote
accuracy, fairness, and privacy of information in the files of every
"consumer reporting agency" (CRA). Most CRAs are credit bureaus that
gather and sell information about you -- such as if you pay your bills on
time or have filed bankruptcy -- to creditors, employers, landlords, and
other businesses.
There are several steps involved in repairing your credit after bankruptcy
or in lieu of bankruptcy. The first step is to get a copy of your credit
report. Once you have obtained a copy of your credit report, the following
steps can be taken to begin repairing your credit:
You can dispute inaccurate information with the Credit Reporting Agency.
If you tell a CRA that your file contains inaccurate information, the CRA
must investigate the items (usually within 30 days) by presenting to its
information source all relevant evidence you submit, unless your dispute is
frivolous. The source must review your evidence and report its findings to
the CRA. (The source also must advise national CRAs -- to which it has
provided the data -- of any error.) The CRA must give you a written report
of the investigation, and a copy of your report if the investigation results
in any change. If the CRA's investigation does not resolve the dispute,
you may add a brief statement to your file. The CRA must normally
include a summary of your statement in future reports. If an item is
deleted or a dispute statement is filed, you may ask that anyone who has
recently received your report be notified of the change.
Inaccurate information must be corrected or deleted. A CRA must remove
or correct inaccurate or unverified information from its files, usually within
30 days after you dispute it. However, the CRA is not required to remove
accurate data from your file unless it is outdated (as described below) or
cannot be verified. If your dispute results in any change to your report, the
CRA cannot reinsert into your file a disputed item unless the information
source verifies its accuracy and completeness. In addition, the CRA must
give you a written notice telling you it has reinserted the item. The notice
must include the name, address and phone number of the information
source.
You can dispute inaccurate items with the source of the information. If you
tell anyone -- such as a creditor who reports to a CRA -- that you dispute
an item, they may not then report the information to a CRA without
including a notice of your dispute. In addition, once you've notified the
source of the error in writing, it may not continue to report the information
if it is, in fact, an error.
Outdated information may not be reported. In most cases, a CRA may not
report negative information that is more than seven years old; ten years
for bankruptcies.
accuracy, fairness, and privacy of information in the files of every
"consumer reporting agency" (CRA). Most CRAs are credit bureaus that
gather and sell information about you -- such as if you pay your bills on
time or have filed bankruptcy -- to creditors, employers, landlords, and
other businesses.
There are several steps involved in repairing your credit after bankruptcy
or in lieu of bankruptcy. The first step is to get a copy of your credit
report. Once you have obtained a copy of your credit report, the following
steps can be taken to begin repairing your credit:
You can dispute inaccurate information with the Credit Reporting Agency.
If you tell a CRA that your file contains inaccurate information, the CRA
must investigate the items (usually within 30 days) by presenting to its
information source all relevant evidence you submit, unless your dispute is
frivolous. The source must review your evidence and report its findings to
the CRA. (The source also must advise national CRAs -- to which it has
provided the data -- of any error.) The CRA must give you a written report
of the investigation, and a copy of your report if the investigation results
in any change. If the CRA's investigation does not resolve the dispute,
you may add a brief statement to your file. The CRA must normally
include a summary of your statement in future reports. If an item is
deleted or a dispute statement is filed, you may ask that anyone who has
recently received your report be notified of the change.
Inaccurate information must be corrected or deleted. A CRA must remove
or correct inaccurate or unverified information from its files, usually within
30 days after you dispute it. However, the CRA is not required to remove
accurate data from your file unless it is outdated (as described below) or
cannot be verified. If your dispute results in any change to your report, the
CRA cannot reinsert into your file a disputed item unless the information
source verifies its accuracy and completeness. In addition, the CRA must
give you a written notice telling you it has reinserted the item. The notice
must include the name, address and phone number of the information
source.
You can dispute inaccurate items with the source of the information. If you
tell anyone -- such as a creditor who reports to a CRA -- that you dispute
an item, they may not then report the information to a CRA without
including a notice of your dispute. In addition, once you've notified the
source of the error in writing, it may not continue to report the information
if it is, in fact, an error.
Outdated information may not be reported. In most cases, a CRA may not
report negative information that is more than seven years old; ten years
for bankruptcies.
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