Identity Theft
Identity Theft
1. If you find errors on your credit report, what steps would you take to correct them?
If errors are found on my credit report I would right away contact the reporting company and in writing provide the information that I believe is inaccurate. That way the reporting company can investigate and also alert the organization that provided the information. Along with I would contact the business or organization myself and provide in writing that I disputed the charges to avoid the business from reporting to the credit bureau again. Once the information is confirmed that the charges are inaccurate make sure that all three credit bureaus can correct the information on file. Then I would be inquiring for my free copy of my report and written results to confirm that the negative note was changed or corrected on my credit report.
2. There are many organizations that claim they will repair your credit for a fee. From your readings, should someone use a credit repair service? Why or why not? What are some actions these organizations can take that should be a red flag?
Many organizations claim they will repair your credit with a fee, from the information that I have read no one should be using the credit repair services they are deceptive and a sham just to take your money. The reason why the repair services should not be used is because negative information will not be removed from a credit report unless it is 7 years old or 10 years if going through bankruptcy. If there is inaccurate information it can be investigated within 30 days and one can actually contact the reporting company to investigate on their own without a charge. Some actions that these organizations can take that should be a red flag is that they ask customers that they can use an employer identification number instead of their social security. These so called credit repair services will charge you in advance and organizations should not charge unless the work is complete.
1. If you find errors on your credit report, what steps would you take to correct them?
If errors are found on my credit report I would right away contact the reporting company and in writing provide the information that I believe is inaccurate. That way the reporting company can investigate and also alert the organization that provided the information. Along with I would contact the business or organization myself and provide in writing that I disputed the charges to avoid the business from reporting to the credit bureau again. Once the information is confirmed that the charges are inaccurate make sure that all three credit bureaus can correct the information on file. Then I would be inquiring for my free copy of my report and written results to confirm that the negative note was changed or corrected on my credit report.
2. There are many organizations that claim they will repair your credit for a fee. From your readings, should someone use a credit repair service? Why or why not? What are some actions these organizations can take that should be a red flag?
Many organizations claim they will repair your credit with a fee, from the information that I have read no one should be using the credit repair services they are deceptive and a sham just to take your money. The reason why the repair services should not be used is because negative information will not be removed from a credit report unless it is 7 years old or 10 years if going through bankruptcy. If there is inaccurate information it can be investigated within 30 days and one can actually contact the reporting company to investigate on their own without a charge. Some actions that these organizations can take that should be a red flag is that they ask customers that they can use an employer identification number instead of their social security. These so called credit repair services will charge you in advance and organizations should not charge unless the work is complete.