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Client QuestionsHow Do I Order My Credit Reports? There are several websites from which you can order your credit report. The most efficient way to get us your reports is to order them online and email them to us as an attachment, preferably as a .PDF, or you can physically mail copies of them to us. If you have difficulty, contact us and we will assist you in getting your reports downloaded and sent to us. Here is a popular website to order your credit report from: www.thecreditreportsource.com. A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months, you can get those reports at www.annualcreditreport.com. You can also order your credit reports from the credit bureaus directly at www.transunion.com, www.experian.com, and www.equifax.com Can I Get A Free Credit Report? A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. The credit bureaus set up a separate website for this purpose, the web address is www.annualcreditreport.com. For qualified consumers, there are some options provided under the Fair Credit Reporting Act that entitle you to receive a free copy of your credit report. You are entitled to a free copy of your credit report if you've been denied credit, insurance or employment and request the report within 60 days of notice, or if you can prove that (a) you're unemployed and plan to look for a job within 60 days, (b) you're on welfare, or (c) your report is inaccurate because of fraud or identity theft. If your application for credit, insurance, or employment is denied because of your credit information, the company to which you applied must give you the name and address of the reporting credit bureau. If you don't qualify under any of those categories, you will need to purchase your credit reports, which are approximately $9.00 - $12.95 each when purchased directly from the credit bureaus. How Do I Send You My Credit Reports? Before you send us your reports, remember to make a copy of them and any other relevant documentation for your records. The most efficient way to get us your reports is to order them online and email them to us as an attachment, preferably as a .PDF. You can also physically mail "COPIES OF THEM" to us. Go to our Contact Us page to get mail and fax information. If you ordered your reports online and experience any difficulty in downloading or forwarding them to us, please contact us and we will walk you through the process. We will inform you upon receipt of your credit report. When I Request My Report, Does It Count As An 'Inquiry'? You may request your report as often as you choose - without effecting your score. You have the right to view your reports as often as you like with no penalty against you. However, 'inquiries' on your credit report from potential creditors, businesses or employers do count as an inquiry and effect your credit score. This is why we have you order your credit reports and send them to us. Our goal is to improve your overall score and eliminate credit report errors. How Long Should I Continue To Use Your Service? During the credit repair process, we will continually work together and keep you informed of the status of your case. We will be forthright with our information and even discourage you from pursuing lengthy disputes if we suspect that your chances of having the credit bureau remove the item in question are improbable. We do not want you spending money needlessly. The timeliness of the credit repair process also depends on the credit bureaus. Their response times are inconsistent and unpredictable, at times quickly investigating and responding and at other times using stall letters, or not even responding. Ultimately, the decision in terms of the time you are willing to pursue disputes is up to you. We are here to provide the best credit repair services available for as long as you choose. How Do I Update My Billing Information? All you need to do is log into our Client Management website and click on the Account Profile tab. There you can update your billing information as well as any other relevant information like new phone numbers, email addresses or physical addresses. Of course, you can call us at anytime and we'll be happy to update your information over the phone. How Do I Submit My Reports And Updates To Box of Credit? Box of Credit makes it as easy as possible for you to submit your credit reports to us. You can fax them to us. You can mail them to us. You can email them to us. If you are in the area, you can drop them off at our office. You can upload them through our client management website. You can also provide user information for the website where you purchased the reports and we'll download them for you. If you can think of another way to get them us, let us know and we'll accommodate you. Our goal is to make the credit report repair process as easy and efficient for you as possible. When Will I Get A Response From The Bureaus? You should expect to receive updates from your creditors and the credit bureaus approximately 45 days from the date the letters are mailed. We'll notify when this happens and send you reminders as well. The updates are generally sent in white envelopes without any identifiable markings on them. Be sure to send your updates to us as soon as you receive them so we can respond accordingly. What Is The Benefit To Having An Assigned Case Advisor? In our experience, there is tremendous benefit to our clients by working with an assigned case advisor. Your communication with our firm is handled primarily by one case advisor. When you call in or email us, that case advisor already knows you and is familiar with your case information. This allows for a greater detail of service and a more personalized experience. Can you imagine how nice it would be to call the phone company about your account and deal with the same person each time? We don't run our business like a call center, but there are plenty out there that do. Instead, we offer premier one-on-one personalized services for our clients. What Is An Initial Fraud Alert? An initial alert stays on your credit report for at least 90 days. You may ask that an initial fraud alert be placed on your credit report if you suspect you have been, or are about to be, a victim of identity theft. An initial alert is appropriate if your wallet has been stolen or if you've been taken in by a "phishing" scam. When you place an initial fraud alert on your credit report, you're entitled to one free credit report from each of the three nationwide consumer reporting companies. What Is An Extended Fraud Alert? An extended alert stays on your credit report for up to seven years. You can have an extended alert placed on your credit report if you've been a victim of identity theft and you provide the consumer reporting company with an "identity theft report." When you place an extended alert on your credit report, you're entitled to two free credit reports within twelve months from each of the three nationwide consumer reporting companies. In addition, the consumer reporting companies will remove your name from marketing lists for pre-screened credit offers for five years unless you ask them to put your name back on the list before then. To place either of these alerts on your credit report or to have them removed, you will be required to provide appropriate proof of your identity: that may include your Social Security number, name, address and other personal information requested by the consumer reporting company. When a business sees the alert on your credit report, they must verify your identity before issuing you credit. As part of this verification process, the business may try to contact you directly. This may cause some delays if you're trying to obtain credit. To compensate for possible delays, you may wish to include a cell phone number, where you can be reached easily, in your alert. Remember to keep all contact information in your alert current. How Do I Initiate A Fraud Alert? Fraud alerts can help prevent an identity thief from opening any more accounts in your name. Contact the toll-free fraud number of any of the three consumer reporting companies below to place a fraud alert on your credit report. You only need to contact one of the three firms to put on an alert. The firm you call is required to contact the other two, which will place an alert on their versions of your report, too. Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374-0241 Once you place the fraud alert in your file, you're entitled to order free copies of your credit reports, and, if you ask, only the last four digits of your Social Security number will appear on your credit reports. Once you receive your credit reports, review them carefully. Look for inquiries from companies you haven't contacted, accounts you didn't open, and debts on your accounts that you can't explain. Check that information, like your Social Security number, address(es), name or initials, and employers are correct. If you find fraudulent or inaccurate information, get it removed. Continue to check your credit reports periodically, especially for the first year after you discover the identity theft, to make confirm there has not been any further unlawful activity. Should I Employ A Credit Monitoring Service? Some companies offer insurance or similar products that claim to give you protection against the costs associated with resolving an identity theft case. Be aware that most creditors will only deal with you to resolve problems, so the insurance company in most cases will not be able to reduce that burden. As with any product or service, make sure you understand what you're getting before you buy. If you decide to buy an identity theft insurance product, check out the company with your local Better Business Bureau, consumer protection agency and state Attorney General to see if they have any complaints on file. What Is A Debt Management Plan? If your financial problems stem from too much debt or your inability to repay your debts, a credit counseling agency may recommend that you enroll in a debt management plan (DMP). A DMP alone is not credit counseling, and DMPs are not for everyone. You should sign up for one of these plans only after a certified credit counselor has spent time thoroughly reviewing your financial situation, and has offered you customized advice on managing your money. Even if a DMP is appropriate for you, a reputable credit counseling organization still can help you create a budget and teach you money management skills. In a DMP, you deposit money each month with the credit counseling organization, which uses your deposits to pay your unsecured debts, like your credit card bills, student loans, and medical bills, according to a payment schedule the counselor develops with you and your creditors. Your creditors may agree to lower your interest rates or waive certain fees, but check with all your creditors to be sure they offer the concessions that a credit counseling organization describes to you. A successful DMP requires you to make regular, timely payments, and could take 48 months or more to complete. Ask the credit counselor to estimate how long it will take for you to complete the plan. You may have to agree not to apply for - or use - any additional credit while you're participating in the plan. What Is The VantageScore System? On March 14, 2006 the nation's three main credit bureaus sent out a press release announcing that they have adopted a new credit scoring system. This new scoring system is not a whole lot different then the old FICO scoring system, but there are differences. The FICO scoring system had a different algorithm to compute the credit score for each bureau. The FICO scoring system also had a different range of scores for each bureau. This was what the credit bureaus were looking to standardize with the new VantageScore system. The VantageScore uses the exact same algorithm to compute the score for all three credit bureaus. Also, the score scale is exactly the same for all three bureaus. Here is a brief explanation of the VantageScore system. The VantageScore system will be on a scale ranging from 501-990 (the lower the score the higher the risk to potential lenders). The VantageScore also has adopted the classical academic scale to make it easier for consumers and lenders alike to understand where they rank with their score. This academic scale is grouped by the following: A- 901-990 The VantageScore just like the FICO score will be based off the information that is reported on the credit report. It will reflect how often a consumer borrows money, how responsible borrowers are at paying back their debt on time, as well as other file content. Unfortunately the credit bureaus did not divulge how these factors would be weighted in the new VantageScore. The new VantageScore will also be more accurate when rating a consumer who has a limited credit history. This is one area in which the FICO scoring system was not very accurate. The FICO scoring system will not be done away with; in fact it will still be used by many borrowers to evaluate those who are looking to get a line of credit. It will be up to the credit industry and the individual lenders to decide which score they use. What Is An Active Duty Military Alert? If you are a member of the military and away from your usual duty station, you may place an active duty alert on your credit reports to help minimize the risk of identity theft while you are deployed. Active duty alerts are in effect on your report for one year. If your deployment lasts longer, you can place another alert on your credit report. When you place an active duty alert, you'll be removed from the credit reporting companies' marketing list for pre-screened credit card offers for two years unless you ask to go back on the list before then. The process for getting and removing an alert, and a business's response to your alert, are the same as that for an initial alert. You may use a personal representative to place or remove an alert.
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Box of Credit81 Broadway Elmwood Park, Nj 07407T. (973) 881 70 62 F. (973) 807 16 34 E. info@boxofcredit.com |