The FCRA or Fair Credit Reporting Act is the basis for what we are entitled to see and the rights that we have as consumers with the credit reporting bureaus. Keep in mind that these credit bureaus are private businesses that need to "make a profit." Therefore we have a right to know what their respective reports are saying about us.
Your credit reports will contain alot of information about your financial history. While much of the information is probably accurate, while some may be a surprise to you. In fact, the reports may have completely false or information that should have been removed.
In a nutshell, the FCRA says that the only "negative information" that can remain on your credit reports is only that which can be proved as true. This is the reason the FTC (Federal Trade Commission) says that we can fix our credit ourselves and don't need to seek an "overnight credit fix" from some less than reputable agency.
When you do the comparison and review of your reports, if negative information is true, "it has to stay." Mark the entries you plan to dispute. Then you will make a case for removal.
Document all data available to demonstrate that an entry is false and this is proof of an erroneous entry. You will send this to the credit bureaus. They must respond and it is their responsibility to prove all the information is true.
Only you can decide if you will be able to carry out this process on your own behalf. If not, you may consider "Credit Counseling." This also needs to be done very carefully. Avoid those agencies that promise to change your credit almost overnight. It's probably too good to be true. In addition, you may be asked to pay an "upfront" fee and monthly fee. These are also agencies that need to make money. They could be SCAMS.
There are people who can probably give you referrals for honest companies or people who can assist you. People are available who are reputable and will take care of your needs.
With unprecedented challenges in the credit markets its more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
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