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| When Two Different Credit Reports Merge |
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A file that contains information from both your credit history and another person's
(usually someone with a similar name) becomes what is known as a "mixed file."
Mixed files may be corrected by formally disputing the inaccurate information.
The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC),
is designed to promote accuracy and ensure the privacy of the information used in
consumer reports. Recent amendments to the Act expand your rights and place
additional requirements on credit bureaus.
According to the FCRA, a credit bureau has 30 days to investigate a dispute
raised by a consumer regarding possible inaccuracies on his or her credit report.
The credit bureau must then provide the written results and a free copy of the
credit report if the dispute results in a change. If an item is changed or removed,
the credit bureau cannot put the disputed information back in the file unless the
information provider (the creditor or lender) verifies its accuracy and completeness,
and the credit bureau provides a written notice that includes the name, address,
and phone number of the provider.
For detailed information on how to dispute inaccurate information on a credit report,
check out the Credit Basics area of our web site at http://www.creditmatters.com/dispute.asp. For more information on the FCRA,
you may contact the FTC on the web at http://www.ftc.gov.
Copyright © 2000, CreditMatters.com
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