Federal Credit Bureau - How Does it Protect Your Credit Record?
Many people mistakenly believe that the four major credit bureaus are under the jurisdiction of the federal government.
No federal credit bureau.
Companies that maintain a register of the credit files of consumers are for-profit companies owned by non- government, but by the shareholders of the company.
Companies like this do not receive government funding or help in any way.
However, federal law governing the actions of the four consumer credit reporting companies nationwide.
Are which the credit reporting companies? The three main actors are Trans Union, Equifax and Experian.
The fourth table is called Innovis, but lags behind the others in use, being a relatively new organization.
Each local credit bureau in the United States is affiliated with one of these three large companies.
It is important for consumers to understand that it is very important to request a copy of your credit file from each of the three main offices.
Why is this? A little known fact is that these offices may each have different information about you in their files.
Since reporting of credit is a competitive business, not sharing information among them on a regular basis.
Federal law which regulates all credit bureaus in the United States is called the Fair Credit Reporting Act The main content of the law is the accurate registration and record keeping, and privacy and consumer protection and their personal credit information.
It is the law you must be informed if any of the information in your file has been used against him when he refused a job because of bad credit.
Generally, this information comes to you in the form of a letter in the mail.
If you want to know what information is in your credit file, all you have to do is ask, and you can get a free report once a year from each major credit bureau.
Once you discover that there is no federal credit bureau and contact one of the three major credit reporting agencies for a free copy of your file, review your credit report closely.
If you see any inaccuracy in all up to you to contact the agency to have corrected the discrepancy.
They must, by law, to investigate the false information by checking all the evidence surrounding it.
Then you should contact the information source that provided them with misinformation.
This source also must review the information and then inform the credit reporting agency.
Then, the CRA sent to you by mail a written research report detailing everything that was done to see this error in the file.
You will receive another copy of your file once the error has been corrected.
In addition, any person, whether a potential employer or that the local department store in which they are trying to get a credit card so you can buy a condominium for you kitty cats, will be informed by mail that is has been a change in your credit record with damaging information removed.
No federal credit bureau.
Companies that maintain a register of the credit files of consumers are for-profit companies owned by non- government, but by the shareholders of the company.
Companies like this do not receive government funding or help in any way.
However, federal law governing the actions of the four consumer credit reporting companies nationwide.
Are which the credit reporting companies? The three main actors are Trans Union, Equifax and Experian.
The fourth table is called Innovis, but lags behind the others in use, being a relatively new organization.
Each local credit bureau in the United States is affiliated with one of these three large companies.
It is important for consumers to understand that it is very important to request a copy of your credit file from each of the three main offices.
Why is this? A little known fact is that these offices may each have different information about you in their files.
Since reporting of credit is a competitive business, not sharing information among them on a regular basis.
Federal law which regulates all credit bureaus in the United States is called the Fair Credit Reporting Act The main content of the law is the accurate registration and record keeping, and privacy and consumer protection and their personal credit information.
It is the law you must be informed if any of the information in your file has been used against him when he refused a job because of bad credit.
Generally, this information comes to you in the form of a letter in the mail.
If you want to know what information is in your credit file, all you have to do is ask, and you can get a free report once a year from each major credit bureau.
Once you discover that there is no federal credit bureau and contact one of the three major credit reporting agencies for a free copy of your file, review your credit report closely.
If you see any inaccuracy in all up to you to contact the agency to have corrected the discrepancy.
They must, by law, to investigate the false information by checking all the evidence surrounding it.
Then you should contact the information source that provided them with misinformation.
This source also must review the information and then inform the credit reporting agency.
Then, the CRA sent to you by mail a written research report detailing everything that was done to see this error in the file.
You will receive another copy of your file once the error has been corrected.
In addition, any person, whether a potential employer or that the local department store in which they are trying to get a credit card so you can buy a condominium for you kitty cats, will be informed by mail that is has been a change in your credit record with damaging information removed.