“Equifax, Experian and TransUnion (the credit bureaus) are under fire for reporting inaccuracies and obsolete information! Take advantage! This is a GREAT time of the year to remove your collections, inquiries, liens, student loans, bankruptcy and late payments! DOESN’T MATTER IF YOU OWE THE DEBT!! CORRECT YOUR REPORT NOW
I know you guys have seen this posted all over social media, right? Well here’s the truth..
- First of all the credit bureaus are NOT on fire for reporting inaccurate and obsolete information so there is no direct advantage of signing up unless you were already considering credit repair. The Fair Credit Reporting Act has been protecting consumers since the 1970’s. It’s your obligation as a consumer to ensure that they’re not reporting any inaccurate and obsolete information by actively monitoring your credit reports. You get one FREE copy of your TransUnion, Experian & Equifax reports every 12 months at www.annualcreditreport.com or by calling 877-FACTACT.
- If any items are removed from your credit report, it is simply because the information is (a) verified as inaccurate (b) verified as incomplete (c) verified as not yours (d) could not be confirmed as accurate within the allotted investigation timeframe. It doesn’t matter what type of account ie: collection, inquiry, student loan, bankruptcy, late payment or any other.
- Nope! It doesn’t matter if you owe the debt. Anything can be removed from your credit report but please remember that does not necessarily mean that you are not responsible for the debt.
You have to be careful of the information that you consume from the internet. If you are uncertain as to facts vs. fiction, the best advice that I can give is to speak with a licensed professional for credit counseling. Click HERE to request a consultation.