I applied for a loan
and was turned down. It turns out there was a mistake on my credit
report. What can I do?
It is a good idea to check
your credit report periodically to be sure it is accurate. There are
three companies that routinely share credit information on you with
potential lenders. You should check your credit with all three agencies
to be sure it is up to date and contains no mistakes.
If there is a problem,
you should report the problem to all three agencies because correcting
the problem with one will not correct the others.
Federal
law gives you the right to dispute anything in your report.
Write to all three agencies
and provide any proof you have that you are not responsible for the
debt in question. The agency will then have thirty days to review
the dispute and let you know whether they will fix the error.
In Georgia you have
the right to get a copy of your credit report twice a year for no
charge. If you are planning on applying for a loan such as a mortgage,
get a copy of your report well in advance to give yourself time to
have your report corrected. You could have mistakes in your report
and never know it until you try and get a loan.
A good way to prevent problems
is to keep a close guard on your Social Security numbers. Many
times people run into problems caused by someone who has fraudulently
used their number without their knowledge.
To get a copy of your report
contact the three credit reporting companies:
Equifax Information
Service
P.O. Box 740123
Atlanta, GA 30374
Experian Credit Reporting
P.O. Box 2350
Chatsworth, CA
91313
Trans Union
P.O. Box 7000
North Olmstead,
OH 44070
Ellie Crosby is a Managing Attorney for the Georgia Senior Legal
Hotline. Contact information:
Ellie Crosby - Managing
Attorney
Georgia Senior Legal Hotline
2 Peachtree St. 36th Floor
Atlanta, GA 30303
phone: (404) 657-0217
fax: (404) 657-5285
elliecrosby@usa.net
Disclaimer
This site contains general information about Georgia
law and is not intended as legal advice to address any specific situation.
It is being provided as a public service by the Georgia Senior Legal
Hotline. If you have questions about this information, you should
discuss your questions with a lawyer. In Georgia, if you are over
60 you may call the Georgia Senior Legal Hotline (888) 257-9519 to
speak with an attorney at no charge about your question or problem.
Be aware that laws differ from state to state and that laws and regulations
can change through court decisions, the administrative process and
through the legislative process. This information is current as of
February 2000.
