Fair Credit Reporting Act

All negative accounts on your credit must meet 3 standards or it must be removed. Even if you didn’t pay the account, it has to be removed. That’s law!

Is it accurate?

According to the United States Public Interest Research Group, 79% of all credit reports have errors. The credit reporting agencies and creditors are notorious for keeping inaccurate records, so check your report. Review the account numbers, dates, loan amounts and your personal information like date of birth, social security number and address. Be sure that each bureau is reporting the same information for each account. If it’s not correct, it has to be updated or removed. But if you take no action and procrastinate, nothing will happen.

Is it complete?

Look for any missing data, like account numbers, balances or date of last activity. Missing information is a common error you’ll see on most credit reports. These are errors that will work on your favor.

Is it verifiable

By law, creditors are required to have all of the documentation for the account you have on your credit. Proof of the account must be provided to you upon request. If proper validation and proof isn’t provided then the account must be completely removed. Based on my experience , most creditors don’t have proper debt validation.

Tip: Your name and the account number on the creditors company letterhead is not proper proof, so don’t accept that.

Do you have questions about credit or credit repair? Post it below or message me directly. www.leafcreditrepair.com. 1.856.452.0347.