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FRISCO FORECLOSURE
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The Federal Trade Commission Credit Fix
Do-It-Yourself Credit Check-Up and Dispute
If
during your credit check you should find erroneous entries on your report, it
may be necessary to resolve these issues
before filling out the final loan application.
Before beginning your home
search, it is advisable to do a self check of your credit to insure there
have been no false entries on your report. You can obtain a free copy of
your credit report once each year through
https://www.annualcreditreport.com
. It can take several week for
corrections to be implemented so the sooner you know, the quicker any issues
can be resolved.
The dispute letter below can assist
you with disputes should there be any open issues.
Sample Dispute Letter
Date
Your Name
Your Address
Your City, State, Zip Code
Complaint Department
Name of Credit Company (there are three, Experian,
Equifax, and TransUnion)
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the
following information in my file. The items I dispute also are encircled
on the attached copy of the report I received.
This item (identify item(s)
disputed by name of source, such as creditors or tax court, and identify
type of item, such as credit account, judgment, etc.) is (inaccurate or
incomplete) because (describe what is inaccurate or incomplete and why). I
am requesting that the item be deleted (or request another specific
change) to correct the information.
Enclosed are copies of (use
this sentence if applicable and describe any enclosed documentation, such
as payment records, court documents) supporting my position. Please
investigate this (these) matter(s) and (delete or correct) the disputed
item(s) as soon as possible.
Sincerely,
(Your name)
Enclosures: (List what you
are enclosing)
What information should be provided
when requesting a report or disputing an item on a report?
It's a good idea to include all of the above
information
whenever you correspond with the credit bureaus, and remember to sign
your request.
You should provide:
full name
birth date
Social Security number
current address
former addresses in last 5 years
photocopy of driving license, showing current
address
If you have a letter denying you credit,
employment, or insurance within the last 30 days, a copy of the letter
should be provided, since this will allow to obtain a free copy.
If you ordered your credit report, within 10 to 30
days you should receive a copy of your credit report from each of the
agencies.
Addresses
for Disputes on Credit Reports:
Experian
NCAC
PO Box 9556
Allen TX 75013
Equifax
Information Services
P O BOX 740256
Atlanta, GA 30374
TransUnion
Customer Disclosure Center
Trans Union Consumer Relations
PO Box 2000
Chester, PA 19022-2000
The FTC works for
the consumer to prevent fraudulent, deceptive and unfair business practices
in the marketplace and to provide information to help consumers spot, stop,
and avoid them. To file a complaint or to get
free information on
consumer
issues, visit
www.ftc.gov
or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The
FTC enters Internet, telemarketing, identity theft, and other fraud-related
complaints into Consumer Sentinel, a secure online database available to
hundreds of civil and criminal law enforcement agencies in the U.S. and
abroad.
Even if you don’t have a poor
credit history, some financial advisors and consumer advocates suggest you
review your credit report periodically. Why?
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Because the information it
contains affects whether you can get a loan or insurance and how much
you will have to pay for it.
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To make sure the
information is accurate, complete, and up-to-date before you apply for a
loan for a major purchase like a house or car, buy insurance, or apply
for a job.
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To help guard against
identity theft. That’s when someone uses your personal information like
your name, your Social Security number, or your credit card number to
commit fraud. Identity thieves may use your information to open a new
credit card account in your name, then when they don’t pay the bills,
the delinquent account is reported on your credit report. Inaccurate
information like that could affect your ability to get a loan,
insurance, or even a job.
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