Trusted Ways To Repair Your Credit. Written by www.creditandyou.com
Even if you think you have a perfect credit report, be vigilant of error factor. Just as you receive mail with your name and address misspelled, your credit report can have errors just like anything else. Whether it’s human being error, outdated data or even id theft, mistakes occur more easily than we’d all like to think.
According to law, both CRA’s and company that provided information to credit reporting agency have obligations for correcting mistaken or incomplete data in your credit report.
So, if you notice an error on your credit report, without hesitation notify credit reporting agency in writing at once:
1. Tell CRA what information you believe is wrong on your credit report. Include copies, never originals of documents that support your position.
2. In addition to providing your whole name and address, your correspondence should of course define each item in your credit report that you dispute. State facts and why you are disputing information. Enclosing a copy of your credit report with things in dispute circled can be beneficial.
3. Though you may take for granted your reason for writing is obvious, be sure to request that mistake be corrected.
4. Mail your letter by certified mail, return receipt requested so you can take note when credit reporting agency received your correspondence. Make certain your correspondence is dated, and be sure to keep copies of everything you send.
Personal Bankruptcy – If it’s Unavoidable, File NowWritten by Charles Essmeier
The Bankruptcy Abuse and Consumer Protection Act, signed into law by President Bush last April, promises changes to Federal bankruptcy law that have been long sought by lending industry. The bill promises sweeping changes to Federal law, and will make it much harder for average consumer in financial trouble to have their debts wiped out by filing for bankruptcy. Recent trends suggest that those considering a bankruptcy filing should do so now, as line to do so is already getting rather long.
The bill will make it harder for average consumer to file under Chapter 7 of Federal code, which allows courts to wipe away consumer debt and give debtor a fresh start. Filings after October 15 deadline will be subject to a means test and those that pass a rather generous income gauge will have to file under more strenuous Chapter 13, which requires a repayment plan and assistance of an attorney. Indications are that with deadline looming, bankruptcy filings are not only higher than they were last year, but they are also higher than anticipated. Nationwide, filings are 20-25% higher than last year, and some bankruptcy attorneys say that their business has nearly doubled.
Complicating matters is another law, passed in 2003,