Thomas Morva asked:




The Fair Credit Reporting Act (FCRA) regulates the quality of a credit report and any errors occurring in the report should be corrected immediately so that future financial disasters can be avoided. Under the FCRA, the credit reporting companies as well as the person concerned are responsible for correcting the mistakes in a credit report.

Proactive action is the best method for disputing any of the items in a credit report. A letter should be sent to the consumer reporting company stating the inaccuracies or discrepancies in a credit report. A copy of the documents that prove the inaccuracies in a report should also be attached to the letter. It is important to keep receipts of the certified mail in case it is required as a proof in further investigations.

The consumer reporting company must oblige within a month and correct the inaccuracies present in the report. If there are no inaccuracies then a letter intimating the concerned person ought to be sent. However, if the consumer reporting company does find any mistakes then a written notice must be sent to all three consumer reporting companies stating the exact inaccuracies in a report.

If the disputed items are corrected then the company is legally bound to send a corrected copy of the report to the consumer. This free report does not count as a person?s annual free report. If an item is changed or erased, the consumer reporting company cannot put the disputed information back in the file unless the information provider verifies that it is precise and comprehensive. The consumer reporting company must also send a written notice that includes the name, address, and phone number of the information provider.

If an investigation does not resolve the dispute with the consumer reporting company, then a person can ask that a statement of the dispute be included in the consumer?s file and in future reports. The consumer can also ask the consumer reporting company to provide your statement to any party who received a copy of the report in the recent past.

Matthew

David Patullo asked:




Credit cards are a great solution for purchasing things especially when you don’t have cash. This is even true when you are looking into getting into business but don’t have the capital to do it. And this is where the new business card can help you solve that problem. Business cards are just like normal cards except that they can be used to handle all your business transactions whether it be for office supplies or materials that you need to build your product. However, you need to know how to use these cards properly so that you can be successful not only in business but in your money affairs as well.

o Never mix transactions – There are two kinds of transactions that you will deal with everyday: business and personal. Never mix these two by using the new business credit card solution. You will end up getting really confused which transactions are for your business and which ones are not. You will also find that your accounting will just be a big mess.

o Reports – Credit companies are really great when it comes to new business credit options. At the end of every year, as a business credit card customer you can expect a report at your doorstep that will include all the itemized transactions that you have done in the past year. This is a great substitute to the thousands of receipts you collect over time.

o Build credit – Building your business credit is much like building your personal credit. What you want to do is keep your business credit score in the positive at all times so that you won’t have a hassle trying to get a loan in the future when you want to grow your business further.

o Entertainment – Credit cards will always want to keep their customers happy. They do this by offering rewards programs so that you will always be entertained. Take advantage of plane tickets, office supplies, and even software that is freely given by credit card companies just because you use their new business credit card services.

Connie