TIME IS MONEY, ARLINGTON, TEXAS!
If you care to take time to review your credit report, this saying can literally be true.
When was the last time you went to www.annualcreditreport.com and reviewed one of your three credit reports?
You should do this at least once a year, if not three separate times. Seriously, the benefits are extraordinary, even if you keep close track of your credit score, which is not the same thing.
If you find an error on your report, you could be due for:
Monetary Damages
An improved credit score
In this blog, we’ll be talking time and money with regards to Credit Pulls, the section toward the end of your report. But if you find anything fishy at all, call me for a free consultation.
THE 2 KINDS OF CREDIT PULLS
- The “Soft” Pull - OK
Anybody from Honda of Weatherford to Chase Bank can purchase a soft pull of your credit, which leads to the endless mailers advertising Pre-Approval and such. The good news is, these can’t affect your credit score. - The “Hard” Pull - IMPACTFUL
Hard credit pulls must be done with your consent, so if you see something you don’t remember applying to, an alarm should go off. Hard credit pulls WILL change your credit score, and may damage it.
SO WHAT’S THE BIG DEAL?
Hard credit pulls can frequently be fraudulent.
You’ll know very quickly whether or not this is the case, due to the fact that there shouldn’t be a high number of listed pulls, and you should recognize all of them.
Unlike the soft credit pulls that you don’t recognize, you yourself are the only person who can initiate a hard pull. So if you didn’t permit it, that’s a red flag.
REVIEW THOSE CREDIT PULLS, ARLINGTON TX:
Hard pulls will be present if you’ve applied for a new credit card, changed utility companies, or moved apartments, amongst many other things.
These hard pulls may not impact your credit score/report at all, since they’re common practices.
But if you see a hard credit pull for a low-fee credit card, that could spell trouble for both your financial security and your credit score.
Like many others across Texas, especially in Weatherford, Mineral Wells, and Decatur, you may have been hit by an illegitimate hard pull. This is against the law, but the companies violating the law don’t care.
You have rights, and I will fight for them.
LARGE COMPANIES FREQUENTLY BREAK THE LAW
The major companies and banks have repeatedly broken the law, especially in the past two decades, in an effort to hoard profits, avoid legislation, and so on. They’ve done it before and they’ll do it again, because the consumer protections are only known to consumers.
THE FAIR CREDIT REPORTING ACT (FCRA) IS IN YOUR HANDS
If you find an error, your credit report will provide a schedule of process for disputing a credit pull. I’m happy to do this for the price of postage.
Thanks to the FCRA, you’re able to recover damages if your credit is pulled without your authorization, and you can be owed up to a thousand dollars, in addition to repayment of attorney fees.
If everyone in our country took the time to hold businesses and credit reporting agencies accountable, we’d all be a lot safer and a lot richer. Until then, it’s up to you to stand up to them. And soon, maybe more will join us.
I will act in the best interest of North Texans, from Arlington to Irving, and Grand Prairie to Grapevine.