FTC recommends self help
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Posted On :
Nov-14-2011
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Article Word Count :
429
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Bad credit not only looks bad, but it makes it difficult in the future to fair credit and interest received may lessen your ability to buy a house if you want to influence.
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The Federal Trade Commission to protect the American consumer claims, recommends the, instead of using a credit repair agency, such as those that send out flyers advertising quick fixes to help repair your credit problems yourself. These companies are often scams. While their methods may work for some people, they are not accessible to everyone. For this reason, the FTC recommends that even first aid. They offer a list of steps to follow. They are summarized below.
Step One
If you receive a report from a consumer reporting agency that you believe is inaccurate, tell them you think it is inaccurate. Often mistakes are made easy. It is important that they understand that you know that something is wrong and that you pay attention to what they send to you.
If you send them a letter, inaccuracies, you have to send off copies of documents to support your position. Not under any circumstances, the original documents. If your originals are gone, so is every evidence that you support your side.
After your report is submitted, the reporting agency usually has 30 days to report to your rule. If they consider your dispute frivolous view, they can dismiss it immediately.
Step two
Tell the creditor or other information collector that you dispute an item. This group must include a copy of the documents to support your position. You will need your dispute in writing, not over the phone, and will likely request an address aswell. If your dispute is shared with a consumer reporting agency, the creditor a copy of the dispute. If the information in dispute is found to be inaccurate, the information provider may not report it again.
This two-step process seems simple enough, but if there is problems with the future of interest rates for loans that affect your entire financial life, it is important that you make these things right. The credit is flawed to some degree.
In addition to these two steps, the FTC also recommends that people not to buy in the quick-fix groups. These groups are often under fraud. The biggest clue that they are running a scam is that they ask for money before they provide any help. Another big sign that the company is not your best interest in mind may be the company that does not say you are your legal rights. The third biggest idea, and the ones recommended in direct contradiction to everything else, the FTC, the company that tells you not to contact the credit reporting on your own.
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Article Source :
http://www.articleseen.com/Article_FTC recommends self help_104162.aspx
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Author Resource :
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Keywords :
cash, finance,
Category :
Finance
:
Finance
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