Consumers Seeing More Personal Debt And Seeking Relief Payment Plans

    Consumers who are seeing more personal debts through either loans or credit cards are often in a position where either budgeting or debt relief payment plans are being explored as a way to help these consumers avoid missed payments, damage to their credit, or generally as a way to help them find more money to spend in other areas, like investing, savings, or even to apply towards major debts like a mortgage. There are those who have continued to rely on credit or simply use credit to spend beyond their means to easily repay despite the fact that financial troubles remain in the lives of many consumers as a result of problems like unemployment or simply because of high rates on credit cards...Read more at Red, White, & Blue Press.

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Disputing

If inaccurate information appears on your credit report, you have the right under the Fair Credit Reporting Act (FCRA) to dispute the information.

What to do:

You should begin the dispute process by contacting the creditor responsible for the inaccuracy. You can find the contact information for each of your creditors at the end of your credit report.

You can also contact an eCreditAdvisor Representative to discuss the inaccuracy. Because eCreditAdvisor is not a credit bureau, we cannot correct the inaccuracy for you; however, we are happy to discuss your credit report and answer any questions you may have.

To dispute inaccurate information directly with the credit reporting agencies, you must explain the inaccuracies in writing. Include copies of documents that support your position. You can also include a copy of your credit report, and mark the items in question.

In your letter, be sure to include:

•    Your full name.
•    Your complete mailing address.
•    Your date of birth.
•    Your Social Security number.
•    The name and account number of the creditor and item in question.
•    The reason for your disagreement with the disputed item-be specific.
•    Your signature.

Special tip:

Send your letter via certified mail and save the receipt. Save copies of your dispute letter and all enclosures. This information should be filed away to document your communication with your creditors and the credit reporting agencies.

Please note:

This letter doesn't guarantee that the changes will be made on your credit report. It just insures that they will reinvestigate your credit report. If changes are made, you will be contacted by the credit reporting agencies within 30 days.

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Posted via email from eCreditAdvisor's Blog by SocialNetGate