How to Dispute Credit Report ErrorsWritten by Omar M. Omar
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When reinvestigation is complete, CRA must give you written results and a free copy of your report if dispute results in a change. If an item is changed or removed, CRA cannot put disputed information back in your file unless information provider verifies its accuracy and completeness, and CRA gives you a written notice that includes name, address, and phone number of provider. Also, if you request, CRA must send notices of corrections to anyone who received your report in past six months. Job applicants can have a corrected copy of their report sent to anyone who received a copy during past two years for employment purposes. If a reinvestigation does not resolve your dispute, ask CRA to include your statement of dispute in your file and in future reports. Second, in addition to writing to CRA, tell creditor or other information provider in writing that you dispute an item. Again, include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If provider then reports item to any CRA, it must include a notice of your dispute. In addition, if you are correct-that is, if disputed information is not accurate-the information provider may not use it again. Accurate Negative Information When negative information in your report is accurate, only passage of time can assure its removal. Accurate negative information can generally stay on your report for 7 years. There are certain exceptions: ·Information about criminal convictions may be reported without any time limitation. ·Bankruptcy information may be reported for 10 years. ·Credit information reported in response to an application for a job with a salary of more than $75,000 has no time limit. ·Credit information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit. ·Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until statute of limitations runs out, whichever is longer. Criminal convictions can be reported without any time limit. Adding Accounts to Your File Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to CRAs: Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't. If you've been told you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that don't appear in your credit file, ask CRA to add this information to future reports. Although they are not required to do so, many CRAs will add verifiable accounts for a fee. You should, however, understand that if these creditors do not report to CRA on a regular basis, these added items will not be updated in your file. Sample Dispute LetterDate Your Name Your Address Your City, State, Zip Code Complaint Department Name of Credit Reporting Agency Address City, State, Zip Code Dear Sir or Madam: I am writing to dispute following information in my file. The items I dispute are also encircled on attached copy of report I received. (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.) This item is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that item be deleted (or request another specific change) to correct 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 reinvestigate this (these) matter(s) and (delete or correct) disputed item(s) as soon as possible. Sincerely, Your name Enclosures: (List what you are enclosing) © Copyright - www.deleteuglyredit.co
Omar M. Omar is the owner of http://www.deleteuglycredit.com and - Author of "The Credit Repair Bible" book. The website is dedicated to providing credit consumers free advice on how to repair credit. It also provides credit consumers numerous information about their credit report, credit laws, and their rights as a consumer.
| | Buying Property in ScotlandWritten by David Miles
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Of course, at this stage, there is no guarantee that your offer will be accepted, and so it is not uncommon to end up having to pay for surveys on more than one property. This is, unfortunately, one of disadvantages of Scottish system. In England and Wales, where you can make your offer and then pull out before contracts are exchanged, buyers normally only have to pay for one survey. Making an offer After seller's solicitor has received notification of interest from two or more buyers, he will announce a closing date by which all of offers must be received. Because a sealed bids system is used, no-one knows what anyone else has bid. Also, each buyer can only bid once, so it is important to think very carefully about what size offer to make and get it right first time. Your solicitor will make offer on your behalf and will also advise a "date of entry". This is date when you will be given keys to your new home, and is equivalent of completion date used in England and Wales. Once closing date for offers comes, vendor will accept highest bid and from this point on both parties are committed. There are no deposits involved unless you are buying a new property, but if either buyer or seller pulls out from here on, they are liable for any losses other party may have incurred. Concluding missives After offer is accepted, buyer's solicitor will "conclude missives". This is similar to exchanging contracts under English system. Once all details of sale have been agreed via this procedure, you as buyer are responsible for structure of building and need to make sure you have adequate buildings insurance in place. Settlement All funds to buy property, together with all fees, need to be ready for forwarding to your solicitor about two weeks before date of entry. These monies will be transferred to your solicitor day before your date of entry, and you will then need to sign title deed to property. Finally, vendor's solicitor will hand over keys and "disposition document" which legally transfers ownership of property to you. If you have any questions or concerns about house buying process in Scotland (or anywhere else) or if you need advice on finding a suitable mortgage, you should visit Scottish Mortgages for expert professional mortgage advice. ------ Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.
David Miles is the editor of a number of UK finance and property websites, including: www.scotland-mortgages.co.uk www.mortgages-remortgages.net
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