Phil's Personal Finance Tip of the Day:
Credit History Botched? Here's How To Complain And Get Results
By John Wasik | Forbes – Thu, Oct 25, 2012 11:08 AM EDTGot a beef about a credit reporting company? Trying to get a credit file corrected? Until recently, you were left to the mercy of individual credit reporting bureaus. Now, you can approach and file a complaint with a watchdog agency in the guise of the Consumer Financial Protection Bureau (CFPB) to obtain satisfaction.
The stakes are high if you need credit; it's important that your credit report reflects accurate information. It's sent to creditors and loan rates are based on information from your file. You could be paying too much in finance charges based on faulty reporting. So now's the time to fix the bad information.
More On Forbes: Ten Top Credit Card Choices From College To Retirement
"The largest credit reporting companies issue more than 3 billion consumer reports a year and maintain files on more than 200 million Americans," the CFPB reports. "The consequences of errors in a consumer report can be catastrophic for a consumer, shutting him or her out of credit markets, jeopardizing employment prospects, or significantly increasing the cost of housing."
Here's how to go about fixing your credit record:
To find out how and to read the entire article from John Wasik | Forbes:
http://finance.yahoo.com/news/credit-history-botched-heres-complain-203920585.html
Inspirational Quotes@Inspire_Us from Twitter:
I always like to look on the optimistic side of life, but I am realistic enough to know that life is a complex matter. - Walt Disney
No comments:
Post a Comment