Credit Score Management

One of the single most vital things that you can do to help your credit is to pull a copy of your credit report so that you can see what is reporting and how things are reporting. You might be surprised at some of what you see, especially if you find accounts or inquiries that are not yours. It is vital to know your credit rights so that you can accurately fight any terrible charges or accounts and so that you can keep as clean of a credit history as possible. In the times of credit fraud and scam artists, knowing your credit rights has never been more vital.

Many collection agencies try to scare consumers into paying them by using illegal tactics and methods. One of the first things you need to know is that if you don’t want to be contacted by someone, you have the right to tell them, in writing, to stop all communications with you. This means that they are violating the law and can be reported if they do not stop calling or writing. Also, you have the right to not be harassed by collection managers and agencies on the phone or on your property. They cannot make derogatory remarks or threats. If they do, then you need to file a report with the Federal Government via the Honest Credit Reporting Act.

You also have the right to an accurate credit report and profile. This means that if something is on your account that does not belong, you can file a dispute to have it removed. This process can take time to accomplish, but if they account on your report is found to be in error, then it must be removed. Also, each type of account has a statute of limitations in which it must be removed. For example, most collections cannot remain longer than 7 years, even if they are unpaid. This means that if it is removed and then reported again, that this is a violation and the law has been broken.

Most of these agencies will try to trick you into thinking you will be sued or lose all of your property if you don’t pay. This is not the case and threats like these are illegal and incorrect. You have the right to due process, regardless of what the person on the phone says. You also have the right to dispute a file with the collection company before it is reported to the credit bureau. Many people don’t reckon they have options, but this simply isn’t the case.

It is a sad fact that many people get taken advantage of by debt collectors and end up paying debt that they don’t have to or that isn’t theirs. Collections are a very unethical industry and they will usually stop at nothing to collect. Since they get a part of the money collected, they are benefitted by your payment and therefore will ring your phone off the hook. Remember, you have rights and you can report violations. Look up the Honest Credit Reporting Act for more information on your credit rights.