|
Consumer
credit reporting agencies (CRAs) collect credit information on you
from banks, department stores, credit card companies, and other
types of financial institutions that may extend you credit.
CRAs
make money selling the information they have in their databank,
including information about your credit profile. Because of this,
it is only prudent that you exercise your legal rights as a
consumer, know what is in your credit file, make sure they are
accurate and challenge it and have it corrected when necessary.
CRAs
are required by the Fair Credit Reporting Act to tell you the
contents of your file. There are several ways to contact a CRA:
IF
DECLINED FOR A LOAN, call the lender who is required by the FCRA
to give you the name, address and phone number of the CRA it used
in evaluating your loan application. IF YOU'RE JUST CURIOUS,
you can find out the contents of your file by calling the CRA
nearest you. They are usually listed in the phonebook under Credit
Reporting Agencies.
If your
report contains inaccurate information, you may challenge the
inclusion of it in your file. One option: If a lender has made an
error, point it out to the lender and request that corrected
information be sent to the CRA.
- Author Unknown -
|
