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This article brought to you courtesy of Veta The Realtor, News-Times Insider Real Estate Expert.

Veta Holscher

You've found the perfect home or would like to remodel the one you have but when you apply for a loan it is declined due to a low credit score. How do you clean up your report so you can qualify next time?

According to National Credit Care (NCC), a credit repair company helping Americans to with credit inaccuracies, "The FTC believes that there are up to 40 million errors on credit reports, other government studies show 1 in 20 have errors impacting their scores."

The Fair Credit Reporting Act states that items need to be "complete and accurate." What if your report is not?

Step 1: You have the right to have accurate information on your credit reports. Get a copy of your credit report free from the Federal Trade Commission at annualcreditreport.com or call 1-877-322-8228. This site is the only authorized website for free credit reports. Check your report carefully to make sure there are no errors or inaccuracies. If you find mistakes, move to step 2.

Step 2: As a consumer, you have the right to dispute and validate the information on your report. But how does a consumer go about this? The same Fair Credit Reporting Act allows NCC to contact the credit bureaus "…to ensure that the content of a credit report is not inaccurate, misleading, incomplete, or unverifiable in any way," according to their website.

This article will be continued next month with steps 3 and 4.

Veta Th eRealtor

503-887-3095

www.TheresOnlyOne Veta.com

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