It's a good idea when you get your credit report online free to carefully check it for errors
to prevent any future credit problems. Because when the consumer group, USPIRG, did a survey
of credit reports, it found that 70% of them had at least one error. But it's also important to
properly deal with common credit situations so they don't turn into credit-damaging problems. And
when you know how to handle common credit problems, any mistakes you find when getting your
credit report online free, won't be yours.
One source of credit problems is billing errors. The Fair Credit Billing Act(FCBA) requires
billing errors to be corrected by the creditors promptly. The law also provides the guidelines
you need to follow to avoid having negative items show up when you get your credit report online
free. So what is considered an error? The FCBA says that a billing error is a:
- charge for something you didn't buy or that was an unauthorized purchase made by someone
else;
- charge that isn't correctly listed on your bill such as the wrong amount or date;
- charge for a purchase that wasn't delivered properly according to the sales agreement or
was refused on delivery;
- miscalculated figure;
- failure to show payment or proper credit for an account;
- bill sent to a prior address after you gave 20 days notice of your new address;
- or any item on the bill for which you need further information.
To protect your rights and keep your credit report online free from negative entries, you
should do the following if there is an error on your bill:
- write the creditor about the error within 60 days of the bill's mailing;
- pay any parts of the bill that aren't being contested(this is necessary to avoid finance
charges or penalties);
- and make sure the creditor responds to your letter within 30 and either corrects or explains
the validity of the bill within 90 days.
If the creditor agrees that an error was made, then there can't be any finance charges on that
item. If the creditor finds no error, then you must be given an explanation and
a statement of any money still owed. When there isn't an error, you may be required to pay any
finance charges that occurred while the bill was in dispute.
To get your credit report online free and 30 days of credit monitoring free, please go to
free instant credit reports.
