how to increase scores

Discussion in 'Credit Talk' started by brokeagain, Apr 22, 2004.

  1. brokeagain

    brokeagain Member

    just changing from ch 7 to 13 - noy discharged yet.
    What do I have to do to get free credit reports
    (supposedly you get one free from each CRA?) and how do I start increasing my scores?
     
  2. jam237

    jam237 Well-Known Member

    The FACTA 'free credit report' from all national CRAs (not just the big 3), doesn't take effect until December 1, 2004.

    It should work similar to the opt-out system, where you make one toll-free phone call, work through the prompts, and all of the national CRAs send out your copy of your credit report with their agency.

    Until then, you can receive a free copy of your credit report only if you meet the pre-FACTA requirements.

    * Unemployed, seeking employment.
    * Welfare Recipient.
    * Adverse Reaction. (Only from the CRA which was used for the adverse reaction)
    * Fraud.
    * You live in a state which already requires a free credit report every year, or prohibits a fee for obtaining your credit report.

    There may be others, but those are the major ones which I can think of.

    If you believe that you are the victim of identity theft/fraud in any way, shape, or form, that option is available, but it does have drawbacks you need to be aware of.

    * 2-YEAR PRM BLOCK (no PRM/promotional inquiries)
    * Fraud Alert statement which appears on your credit report for anywhere from 90 DAYS-1 YEAR depending on the credit reporting agency. -- Instant credit applications will possibly be denied (pending authorization from you), or additional credit reports will be pulled.
     

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