31 Oct Credit Report Problems in Minnesota
If you are having trouble getting credit in Minnesota the first step is determine why your credit is bad. You are able to pull a free credit report from www.annualcreditreport.com. Once you pull this report you must review the report to make sure all the information on the report is accurate. The trick is that there are many credit reporting agencies, but three major agencies (Transunion, Equifax and Experian).
You must look at all three agencies to determine what is wrong with your credit and why you are not getting good rates on loans. Once you figure out why your score is bad, then you must dispute inaccurate information with these three agencies. The trick is when you dispute the information it should be an actual letter and that letter should be sent via certified mail with return receipt requested. This will provide you verification that the dispute was received by the agency. The agency then must get back to you and either fix the inaccurate information, report the account as disputed, or keep the information as originally reported. If you know the information is incorrect and they do not fix the information, you would need to contact an attorney to sue the creditor for a violation of the Fair Credit Reporting Act.
Having your credit report reflect inaccurate information can cost you a great deal of money in the form of higher rates on loans. This can add up to tens of thousands of dollars over the course of a loan. In some cased the credit reporting agency will just not correct the information in your credit file, forcing you to litigate and figure out how much this false information is costing you in additional credit costs. If you need more information visit our website at www.bolinskelaw.com.