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Tag: credit report disputes

Why You Should Check Your Credit Regularly During the Coronavirus Pandemic

Why You Should Check Your Credit Regularly During the Coronavirus Pandemic

If the coronavirus (COVID-19) outbreak has hurt you financially, working out a deal with a creditor or lender to skip payments or pay less than the required minimum amount could impact your credit even though, in most cases, it shouldn’t. So, you need to be proactive in reviewing and protecting your credit during this national emergency. Credit Protections Under the CARES Act Under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, if you make an agreement with a…

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CFPB Won’t Enforce Credit Reporting Dispute Deadlines During Coronavirus Crisis

CFPB Won’t Enforce Credit Reporting Dispute Deadlines During Coronavirus Crisis

Your credit report is a record of all open credit accounts you have, as well as your payment history with each of them. The three national credit reporting agencies—Equifax, Experian, and TransUnion—keep these records, and federal law gives you the right, under the Fair Credit Reporting Act (FCRA), to dispute errors and inaccuracies in your reports. Federal law also requires the agencies to respond to disputes within specific time limits. Generally, the FCRA requires that credit reporting agencies and furnishers,…

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