creditreportingscores0001.pdf Welcome to 2008!!! I truly believe that credit reports are important, not only for protection against identity theft, but as an important component of the ability to build wealth through real estate. You must be in a position to finance & purchase if you intend to add real estate (whether primary or investment real estate) to your financial portfolio! Even in today’s mortgage climate, many creative loans are available to those with decent credit scores. I attended a class this week on credit reporting and the complexities of the making of a credit score. I am including the article below, as well as an attachment on what affects your credit scoring.
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Correcting Credit Report Errors
If your credit ratings are suffering because of mistakes on a credit report, it is your right to have them corrected at no cost. Credit bureaus are legally required to investigate disputed information by contacting the creditor that originally supplied them with the information. Keep in mind that the three major credit bureaus — Experian, Equifax and Trans Union — usually have the same information for each consumer file, but not always. You need only contact the bureau that actually shows an error. Factual information cannot be removed from a credit report, and the credit bureaus will not automatically remove information from your reports just because you dispute it. You do have to prove that the information is wrong with supporting documentation before a credit bureau will correct a report. However, under the Fair Credit Reporting Act (FCRA), a credit bureau must within 30 days remove or modify a disputed item if it is found to be inaccurate, incomplete or cannot be verified after a reasonable investigation. Contact information for the three major U.S. credit bureaus: |
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Janeese Jackson
Bill Norris
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