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Credit Reporting Rights: How To Improve Your Credit Score

It’s not uncommon for some people to check their credit report only to discover certain listings that they have no knowledge about at all. Unfortunately, these listings could cause negative impact on the credit score, which eventually leads to being unable to secure a larger loan (mortgage or car loans). If you are positive that error has been made or someone stole your identity and made these purchases without your knowledge, it’s time to know more about the Fair Credit Reporting Act or FCRA.

The good news is, once you are familiar with the FCRA, you will discover just how easy it is to correct these errors or get your identity back and fixing the damage done to your credit score. If say, you got a debt collector phoning you over debts you didn’t know existed, it might take time to clean up your credit report. Below are practical tips to help you set the record straight with a debt collection agency or the original creditor:

Call and Take Notes

First, you need to call the debt collector and talk to them about the debt. Keep note of the offer and have them send a written statement regarding the debt you allegedly owe them. From here, you will get an idea exactly why you incurred a debt without prior knowledge of.

Thoroughly Check The Credit Report

Print out the credit report and start identifying debts you know and debts that you don’t know or were initiated without your knowledge. If you are unsure about certain listing, it is best to call up your creditor and notify them about the listings and have them send over the statements. Don’t forget to note names, numbers and addresses of the creditors as well. If you are sure that you never made any of these transactions, notify your creditor right away and so they can investigate the issue.

Call Your Lawyer

Next step is to call your lawyer or search for a reputable fair credit lawyer who is well versed in the FCRA. If you’ve been a victim of identity theft, then your lawyer can call the major credit reporting bureaus and flag the debts you had investigated. A fair credit lawyer can also help you clean up your credit.

Don’t be forced to pay for debts that are not authorized. Familiarize yourself with the Fair Credit Reporting Act and find out what you can do to set the record straight and clan up your creditor report.

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