|
How
do I locate a credit reporting agency that has access to my
records?
Contact the CRA's listed in the Yellow Pages under
"credit" or "credit rating and reporting."
Since more than one CRA may have a file on you, call each until
you locate the agencies maintaining your file. If your
application was denied because of information supplied by a CRA,
the company you applied to must give you the agency's name and
address.
Do
I have the right to know what is in my credit report?
Yes, if you ask for it. The CRA must tell you everything in the
report, and in most cases, the sources of the information.
Although the CRA is not required to give you a copy of the
report, many do. You also have the right to know who received
your report in the past six months. If your inquiry concerns a
job application, you can get the names of those who received
your report during the past two years. Medical data is exempt
from this rule, but your doctor may be able to get it for you.
Is
there a charge for my report?
Not if your application was denied because of information
supplied by the CRA, and not if you request your report within
30 days of receiving the denial notice. If these requirements
are not met, the CRA may charge a reasonable fee.
What can I do about inaccurate
or incomplete information?
Contact the CRA. They're required to reinvestigate the items in
question. If the new investigation reveals an error, you may ask
that a corrected report be sent to anyone who received your
report in the past six months. Job applicants can have corrected
reports sent to anyone who received a copy during the past two
years.
What can I do if the credit reporting agency will not modify
my report?
The reinvestigation may not resolve your dispute with the CRA.
If so, have the CRA include your version or a summary statement
of the dispute in your file and in future reports. At your
request, the CRA also will provide your version to anyone who
recently received a copy of the old report. There's no charge
for this service if you request it within 30 days after you
receive your denial notice. After that, there may be a
reasonable charge.
Do I need to request the information in person?
No, you can ask that the information be provided to you over the
phone or by mail. However, to verify your identity, the CRA can
ask you to submit your request in writing. If you want to visit
the CRA, you'll need to make an appointment.
Are
reports prepared for insurance and job applications different?
If a report is prepared in response to an insurance or job
application, it may be an investigative consumer report. These
are much more detailed than regular consumer reports. They often
involve interviews with acquaintances about your lifestyle,
character, and reputation. Unlike regular consumer reports,
you'll be notified in writing when a company orders an
investigative report. This notice also will explain your right
to ask for additional information about the report from the
company you applied to. If your application is rejected, you may
prefer to obtain a complete disclosure by contacting the CRA.
Note that the CRA does not have to reveal the sources of the
investigative information.
How
long can negative information remain in my file?
Generally seven years, with certain exceptions: bankruptcy
information can be reported for 10 years; information reported
because of an application for a job with a salary of more than
$20,000 has no time limit; information reported because of an
application for more than $50,000 worth of credit or life
insurance has no time limit; information concerning a lawsuit or
a judgment against you can be reported for seven years or until
the statute of limitations runs out, whichever is longer.
Can
anyone get a copy of my report?
No. Only people with a legitimate business need can get your
report.
Are
there other laws I should be aware of?
If your credit application was denied, the Equal Credit
Opportunity Act (ECOA) requires creditors to tell you the
specific reasons for your denial. For example, the creditor must
tell you whether the denial was because you have "no credit
file" with a CRA or because the CRA says you have
"delinquent obligations." The ECOA also requires
creditors to consider, upon request, additional information you
might supply about your credit history. You may want to find out
the creditor's reason for the denial before you contact the
credit bureau.
Where
should I report violations of the law?
Although the FTC can't act as your lawyer in private disputes,
information about your experiences and concerns is vital to the
enforcement of the Fair Credit Reporting Act. Send your
questions or complaints to: Correspondence Branch, Federal Trade
Commission, Washington, D.C. 20580.
Next Section -
Kimberly Credit Counseling Services ...
|
