Suppose a consumer is turned down for credit. What should he do?
If he was rejected wholly or partly because of information contained in a credit report, the creditor must give him the name and address of the credit bureau involved. Then he can arrange for an interview to review his file. This may be done at the bureau, in person, or by telephone if he first makes a written request. There is no charge if this is done within 60 days of the credit rejection. A trained interviewer will review the file and disclose the contents to him. The bureau will reinvestigate any errors or disputes without charge. Sometimes, though, a person may have a record of prompt pay and still be turned down. In such cases, it’s usually because the consumer hasn’t met other requirements of that firm such as length of residence at one address or time on the job. Remember, each individual credit grantor sets its own requirements and specifications, not the credit bureau.
Related Questions
- What is The Credit Repair Specialists’ definition of "clearing up" a consumers credit report or improving their credit profile?
- What is the Advanced Credit Repair definition of "clearing up" a consumers credit report or improving their credit profile?
- Suppose a consumer is turned down for credit. What should he do?
