Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. The FCRA (Fair Credit Reporting Act) and the FDCPA (Fair Debts Collections Practices Act) were designed to protect your rights, and initiated to hold creditors and credit agencies legally responsible for all claims they make against you. Any inaccurate, incomplete, outdated or unverifiable accounts must be removed or corrected.
Everyone's credit situation is completely different, so how long it takes for you to achieve your expected results depends on the number of derogatory credit items on your reports, your participation in getting credit reports to us, your ability to pay overdue debt, and the level of credit bureau cooperation. We will do our part by performing a comprehensive evaluation of your credit reports and creating dispute letters based on the results, usually within 48 hours from the date we receive them. Most of the wait-time after is usually spent waiting for the credit bureaus or creditors to respond.
Many of our clients have seen an increase of 100 points or more*; however, the actual amount will vary per customer. There are many factors that affect a credit score besides derogatory items. For example, the ability to pay down revolving debt, the type of credit you have, your length of credit history, even the number of inquiries on your credit file. It is especially important that no current accounts fall into a negative status.
You will receive updated credit reports from all three credit agencies within 30 to 45 days. At that time you will see what was deleted, updated or revised. Please forward these updated credit reports to us so that we can continue working on the remaining items. If the credit agency does not respond to your dispute letter, do not be alarmed, a new dispute letter will be generated when your file is reviewed by the processing center every 60 days.
The credit agencies are required by law to respond to all correspondence. It is not uncommon for credit agencies to send letters stating they want more information, or that they will not re-verify an account. These types of responses are very common and customers should not be alarmed if they receive them. You must have patience, because the credit agency’s make their money by providing credit reports to lenders, not by answering dispute letters. Customers must continue to send all correspondence they receive from the agencies to the processing center.
The credit agencies are required by law to respond to all correspondence. It is not uncommon for credit agencies to send letters stating they want more information, or that they will not re-verify an account. These types of responses are very common and customers should not be alarmed if they receive them. You must have patience, because the credit agency’s make their money by providing credit reports to lenders, not by answering dispute letters. Customers must continue to send all correspondence they receive from the agencies to the processing center.
The credit agencies are required by law to respond to all correspondence. It is not uncommon for credit agencies to send letters stating they want more information, or that they will not re-verify an account. These types of responses are very common and customers should not be alarmed if they receive them. You must have patience, because the credit agency’s make their money by providing credit reports to lenders, not by answering dispute letters. Customers must continue to send all correspondence they receive from the agencies to the processing center.
Every 60 days, your file will be reviewed. Based on the documentation received from you, (credit report updates and letters from creditors) a new dispute will be generated and forwarded to you to review and sign. Along with the new dispute document, you will receive a status update report showing the progress and deletion of accounts to date. You can also access our Web site for an up-to-date account status.
Yes, you can. You can also represent yourself in a court of law, and do your own oil changes on your vehicles. There's nothing we do that you cannot do yourself when it comes to fixing your credit situation. Individuals can restore their credit on their own but this can take time and a lot of knowledge when it comes to the credit laws. We are a service company. We offer experienced, professional help at very affordable rates for your convenience and benefit.
When you notify the credit bureaus that something in your credit files isn’t correct, you have to indicate the nature of your dispute. In other words, you must indicate whether your dispute relates to the 'ownership' of an account or if it involves the 'account information' or 'status' of an account.
CREDIT BUREAU / CREDIT REPORT
A credit score is a number that reflects your risk level, as an individual, to a lender. The higher the number, the lower the risk will be to the lender. As you apply for increased credit or attempt to make a purchase, the lender will check your ability to pay back that loan. The more negative marks you have on your credit report, the less likely you will be granted the loan or purchase you requested.
Credit scores are not fixed; instead they reflect a consumer’s current credit situation, based on the information in the credit report at the time the report is pulled.
Credit scores are not fixed; instead they reflect a consumer’s current credit situation, based on the information in the credit report at the time the report is pulled.
Although each credit reporting agency formats and reports this information differently, all credit reports contain basically the same categories of information.
Information.
Your name, address, Social Security number, date of birth and employment information are used to identify you. These factors are not used in credit scoring. Updates to this information come from information you supply to lenders.
Trade Lines.
These are your credit accounts. Lenders report on each account you have established with them. They report the type of account (bank card, auto loan, mortgage, etc.), the date you opened the account, your credit limit or loan amount, the account balance, and your payment history.
Credit Inquiries.
When you apply for a loan, you authorize your lender to ask for a copy of your credit report. This is how inquiries appear on your credit report. The inquiries section contains a list of everyone who accessed your credit report within the last two years. The report you see lists both 'voluntary' inquiries, initiated by your own requests for credit, and 'involuntary' inquiries, such as when lenders order your report so as to make you a pre-approved credit offer in the mail.
Public Record and Collection Items.
Credit reporting agencies also collect public record information from state and county courts, and information on overdue debt from collection agencies. Public record information includes bankruptcies, foreclosures, law suits, wage attachments, liens and judgments.
The formula used to calculate your credit score includes information based on several factors:
No. Credit reporting companies are just that - companies. They are in business to make money, and they generate their income by selling credit reports to creditors.
Negative credit accounts, or trade lines, can remain on your credit report for up to 7 years, and bankruptcies and other public records for up to 10 years. Inquiries on your credit report may remain for 2 years. These are the maximum times that are permitted by federal law for reporting agencies to show negative items; however, these times are not mandatory. At any time, a creditor or credit bureau may remove a derogatory remark from your credit report if the consumer requests an investigation into remarks that they feel are incorrect.
No, all information reported by the credit bureaus are subject to the same laws and criteria. We may challenge on your behalf any items you request and the credit bureaus must investigate these items.
It is your credit report that creditors use to determine if they will extend credit to you. If you have inaccurate information on your report, you may be turned down for the loan you need or pay unnecessary high interest rates.
The credit bureaus collect information based on individual Social Security numbers.
Depending on which lender you go through will determine which credit bureau the item will appear on. It could be one, two or all three bureaus.
Under the Fair Credit Reporting Act, a credit reporting company may only disclose your credit report if someone is:
It is estimated that as many as 80% of credit files have errors. If your credit report contains errors, it is often because the report is incomplete, or contains information about someone else. This typically happens because:
You applied for credit under different names (for example, Margaret Jones versus Margaret Jones-Smith)
Someone made a clerical error in reading or entering name or address information from a hand-written application
You gave an inaccurate Social Security number or the number was misread by the lender
Loan or credit card information was inadvertently applied to the wrong account
Only the credit bureaus have the power to remove items from your credit report. But, as required by law, the credit bureaus must delete inaccurate, unverifiable, or outdated information.
Absolutely. The Fair Credit Reporting Act allows anyone to dispute inaccurate items on their credit reports. There's nothing we do that you cannot do yourself when it comes to fixing your credit situation. Individuals can restore their credit on their own but this can take time and a lot of knowledge when it comes to the credit laws. That's why we are here to help since we have the experience and knowledge to get you the positive results.
CREDIT PROCESS
Everyone's credit situation is completely different, so how long it takes for you to achieve your expected results depends on the number of derogatory credit items on your reports, your participation in getting credit reports to us, and the level of credit bureau cooperation. We will do our part, the auditing and creating dispute letters based on your reports, usually within 48 hours from the date we receive them. Most of the wait-time after is usually spent waiting for the credit bureaus or creditors to respond.
Many of our clients have seen an increase of 100 points or more*; however, the actual amount will vary per customer. There are many factors that affect a credit score besides derogatory items. For example, the ability to pay down revolving debt, the type of credit you have, your length of credit history, even the number of inquiries on your credit file. It is especially important that no current accounts fall into a negative status.
* Results may vary by individual.
Yes, you can. You can also represent yourself in a court of law, and do your own oil changes on your vehicles. We are a service company. Just as you are probably better at what you do than we would be, we are probably better at credit restoration than you would be. We offer experienced, professional help at very affordable rates for your convenience and benefit.
Yes. If the listing is inaccurate, incomplete, misleading or unverifiable, it can be removed. The severity of bankruptcies, foreclosure, liens, etc. does not factor into their removal as much as you would believe. There are a number of elements, unrelated to severity, upon which such items can be successfully removed.
The credit bureaus are required by law to respond to all correspondence. It is not uncommon for credit agencies to send letters stating they want more information, or that they will not re-verify an account. These types of responses are very common and customers should not be alarmed if they receive them. Customers must continue to send all correspondence they receive from the agencies to the processing center.
You will receive updated credit reports from all three credit bureaus after 30 to 45 days. At that time you will see what was deleted and will need to mail the originals to us so that we can continue working on the remaining items. You will actually know what was deleted before we do, which is why it is so important that you forward all credit bureau correspondence within a few days of receiving it. If the credit agency does not respond to your dispute letter, do not be alarmed, a new dispute letter will be generated when your file is reviewed by the processing center every 60 days.
Absolutely, any additional information that the customer would like to provide will help expedite the credit restoration process. Simply write on the dispute letter any changes or additional information you may have regarding any specific account, and forward it to the processing center. The processing center will make the necessary corrections on the dispute letter and forward the customer a revised copy to sign and send to the credit agencies. Remember, this is a partnership.
Every 60 days, your file will be reviewed. Based on the documentation received from you, (credit report updates and letters from creditors) a new dispute will be generated and forwarded to you to review and sign. Along with the new dispute document, you will receive a status update report showing the progress and deletion of accounts to date. You can also access our Web site at www.united-credit.org for an up-to-date account status.
Yes, contact your sales agent. Due to the increased number of identity fraud cases reported annually, it is recommended that you continue your service to monitor and review your credit reports on a quarterly basis. This will ensure your reports remain accurate and that no new information is added without your knowledge.
At first glance, it may seem like a good idea to close old credit accounts or open a host of new ones. But it’s not. More accounts can hurt, not help. Financial experts agree that you should not open multiple new accounts just to show a credit history. If you have had little credit in the past, build your credit history slowly. Open no more than one or two accounts initially. Also, don’t close your old accounts. A long credit history has a positive impact on your credit score. Having a large number of accounts in good standing with zero balances is a plus, not a negative.
Paying your bills on time should do nothing but help your credit score. Good payment histories will help clients who are trying to buy a home, refinance a home, or qualify for new credit. We often tell people that while we work on the past, you should be working on the future.
You should be in a much more favorable position as long as you meet several requirements of the credit grantor, such as a good credit history over the past 6-12 months, length of employment, debt ratio, length of time at current residence, and have amount of down payment, etc.
Customer Service representatives will handle all of your service needs. If you need to make contact, you will be provided with a member service number, a special e-mail address and a fax number that goes directly to member services.
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