CREDIT INFORMATION To obtain a free copy of your credit report,
visit www.annualcreditreport.com OR
visit any of the three credit bureau websites to obtain more information
on how to retrieve and dispute your credit. |
Equifax |
Experian |
TransUnion PO Box 390 Springfield, PA 19064 (800) 888-4213 www.transunion.com |
DISPUTES: If you have an item that you believe is
on your report incorrectly, you will need to contact each bureau separately
by either writing a letter or on-line. - Letters must
contain account numbers, what is incorrect, who it was charged by and should be sent by overnight mail, return receipt requested. - Once a dispute is received, the credit repository has 5 days to contact the credit grantor about the disputed item. The credit grantor then has 30 days to respond to the inquiry. - Within 5 days
after the completion of the investigation, the repository must send a written report to the borrower with the findings. These can be: o There is an error and the credit data is modified to reflect the accurate information. o There is no error, so the credit file stands.
o The credit
grantor(s) did not respond in the allotted time, so the disputed item(s)
is deleted from the file. HOW
CREDIT IS DEDUCTED: - Past payment history – approx. 35% of weight - Outstanding Debt Utilization - 30% of weight - History of Credit Establishment – 15% of weight - Type of Credit Being Used - 10% of weight
- Pursuit
of New Credit – 10% of weight WHAT
THIS MEANS: Keep only a small number of cards open, make SURE to make your payments ON TIME and keep balances at or below 30% of the limit.
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