Frequently Asked Questions
What type of information is in my credit file?
Your credit file contains your credit history for the past seven
years, including loans and credit cards; any debts placed with
a collection agency; your personal information such as your name,
date of birth, addresses, social security number, and employment,
and public record items such as bankruptcies, judgments, and tax
liens.
Can anyone just check my credit because they want to?
No. Each time your credit report is accessed, the business requesting
the credit report must have a permissible purpose. A few
examples of “permissible purpose” include landlords,
financial institutions, credit card companies, insurance companies,
and auto dealers to whom you have supplied an application for credit.
Each application must disclose that the business will check your
credit, and you must give permission for them to do so.
Can I get a copy of my credit report?
Yes. Every consumer is entitled to one free credit report per
year from each of the credit reporting repositories: Equifax, Experian,
and Transunion. The free reports do not contain your credit score.
You may purchase a report from each company that includes your
score for a fee. To access a copy of your personal credit report,
visit the website www.annualcreditreport.com. Make sure you have
personal records available, as you will have to answer secure,
identifying questions to access you report.
One of the items on my credit file doesn’t
belong to me. What can I do to fix it?
You can file a dispute form with the Equifax, Experian and Transunion.
They will investigate the matter and make any necessary corrections.
You have the right to ask for a free copy of your corrected report.
All of the late payments on my credit report were credit cards. In my divorce decree, they became my spouse’s responsibility. Why are the on my credit file?
A divorce decree is a legal contract between 2 parties; the credit
cards are still a mutual debt.
Can I have something removed from my credit report?
You have the right to file a dispute with the credit reporting
agency that is reporting the information. In accordance with the
Fair Credit Reporting Act, they will investigate your dispute and
notify you of their findings. If the investigation proves the item
is not your debt, the item should be deleted. If the investigation
proves that the debt belonged to you, it can remain on your credit
report. Some creditors will remove items, but they are not required
to if the debt is valid, even if it is paid.
What is the statue of limitations on being able to collect an account?
It varies in each state. In Michigan, it’s six (6) years
from the date of last activity. However, collection accounts can
remain on a credit report for seven years from date of last activity.
When an account in collection is paid, how long will it stay on my credit file?
Seven years from the date of last payment.
Can a collection agency call me at home and place of employment?
Collection agencies can call you at home or work, seven (7) days
a week, but must adhere to the Federal Debt Collections Practices
Act.
I’m getting calls from collection agencies on accounts that my spouse is responsible for per our divorce decree. They say that I’m responsible. Is that true?
Yes, A divorce decree is a legal contract between 2 parties; the
accounts are still a mutual debt.
My spouse has custody of our children. Why are collection agencies calling me to pay the medical bills placed in collection for my children?
Both parents are mutually responsible of the medical bills of
the minor children.
How come a collection agency can’t
demand payment on a collection account for the first thirty days?
The law gives the debtor 30 days to dispute the account. In addition,
if it’s paid in full with in the 30 days, it isn’t reported
to your credit files.
Does an NSF (non sufficient funds) check go on my credit file?
All collection accounts over $25.00 can be reported to the three
national credit reporting repositories.
How do I make use of your service?
Call us at 231-347-2562, email or visit Northern Credit Bureau, 425 Michigan St., Petoskey, Michigan, 49770.
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