Month: August 2011

Credit Bureaus and Frivolous Claims

Recovering from bad credit takes time and consistent effort. Reviewing your credit report and disputing false information is a great place to start. However, resorting to unethical practices during this process can create more hindrance than help. Rather than disputing specific information, most unethical “credit repair mills” simply dispute all negative items, whether the bad credit items were reported fairly or not. The Fair Credit Reporting Act (FCRA) gives credit bureaus the right to ignore “frivolous and irrelevant” claims at their discretion. Once they have decided your claim has no merit, the only way to correct your bad credit is in a courtroom. Before adapting the tactics of credit mills, consider the following points. They can help you file the most effective (and honest) verification or dispute claims.

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Applying for Credit without Embarrassment

For some, applying for credit is a simple and stress-free process. For others, the very thought of credit rejection is an ever-present and anxiety-ridden task. If you belong to the latter group, there are ways to strengthen your credit score and increase your chances of obtaining new credit. Read on to discover clean credit tips and how to utilize them.

  • Review your credit report. While you may think your credit is under control, your credit report may be telling a completely different story. Take time to obtain and review a copy of your credit report. Verify your name, address, and all other basic information. Go through your credit items line by line, making sure to note any examples of unfair credit reporting, outright inaccuracies, or possible instances of identity theft. If you do spot inaccuracies, disputing them is the next step. Clean credit depends on a fair and accurate credit report, and it’s up to you maintain its validity.
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A History of Consumer Rights and Improvements

Before the 1960’s, consumer rights were practically nonexistent. Consumers had little access to legal protection or tools to defend themselves against deceptive business practices or faulty products. Further, the process of credit repair was illusory at best. Fortunately, the rapid nature of consumerism created a wave of legislation and policy. Read on to discover the evolution of consumer rights and how they have impacted the U.S. marketplace.

In 1962, President Kennedy spoke to the U.S. Congress about the need for a new consumer movement, a call to action that resulted in the Consumer Bill of Rights. The bill included four basic points:

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