Did You Know That The Average American Household Has 13 Payment Cards — Including Credit Cards, Debit Cards, And Store Cards? Plus, There Are 1.3 Billion Payment Cards In Circulation In The United States Right Now. And, On Average, Americans Carry About $5,800 In Credit Card Debt Month To Month. If One Were To Make Only The Minimum Payment On That Debt Each Month, It Would Take 30 Years To Pay Off — Including An Additional $15,000 In Interest. Welcome To DebtConsolidationSite.com. We'll Provide You With Articles, Tips, And Tools That Will Help You Regain Control Of Your Credit. As
you explore this site, you'll discover...
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What Your Banker Won't Tell You About Debt Consolidation
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Hot: Which Is Better -- Consolidation Or Bankruptcy?
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How To Consolidate Without Damaging Your Credit Score
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Can You Really Get Credit After Using A Debt Service?
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Errors on Your Credit Report: What You Should Do
Author: Tim Gorman
There are times when you may be turned down for credit and you do not understand why. According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. You may also receive a copy of your credit report for a small fee at any time in which you want to review the information contain therein.
If you dispute any of the information on your credit report, there are steps that you, the credit reporting agency and the information provider must take to have the information corrected or deleted form your report.
1. You should contact the credit reporting agency and request that the inaccurate information be taken off. To do this you will need to send a letter of request and enclose a copy of the report with the incorrect information highlighted. Send your request certified mail and indicate that a return receipt is requested.
2. The Credit reporting agency will forward the request to the information provider at which time they will review and investigate the request. If the information cannot be verified, then they must remove it. They can either correct or deny the request to change the information. They will then send their findings to the credit reporting agency.
3. If the information provider finds that their was an error they will provide written proof of the change and send a copy of the report to you, the credit reporting agency and anyone who has requested a copy of your credit report in the last six months.
4. If the information provider finds that there was no error, you can request that the credit reporting agency send a copy of the disputes with any report that is requested by creditors. You can also provide an explanation of a negative report in 100 words or less that will be included in any reports to creditors. Another alternative is to pay the debt, which would require the creditor to report the debt paid.
You should also be aware that negative reports will remain on your credit for up to seven years at which time they will be deleted in most cases. There are some exceptions, these include, bankruptcy, which can be reported for up to 10 years, and loans or life insurance policies which are in excess of $150,000.00, or criminal convictions, which can be reported at all times.
About the Author
Timothy Gorman is a successful webmaster and publisher of Debt-Relief-Solutions.com. He provides more debt relief, consolidation and free debt consolidation information that you can research in your pajamas on his website.
Article Keywords:
'Debt Consolidation'
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Recently, an interesting
email came across my desk. I'll paste it below.
Check it out...
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Dear Anthony-
HELP I am in over my head
and I obviously need help. I owe just over $12,000 on two credit
cards. I know in
the past you recommend debt consolidation. But, I have read about
of the SCAM artists out there. Is
there someone I can talk to that you recommend? -Dan, New York
There are a lot of things to watch out for when it comes to debt consolidation. I
have a company I wholeheartedly recommend to others in need of help. I
find them fair, easy, and they don’t use “high-pressure” tactics.
Press the link below to check them out now.
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