Tell the consumer reporting company in writing what information on your report you think is inaccurate. Use this sample letter. Check in advance if they will accept a letter written in Spanish, otherwise, use the model in English. Attach copies (NOT originals) of all documents that support your position. In addition to including your full name and address, in your letter you should identify each of the items in your report that you intend to dispute, state the facts and reasons for your challenge, and request that they be corrected or removed. If you wish, you can also include a copy of your credit report by circling the questioned items. Send your letter by certified mail with “return receipt requested” to document that the consumer reporting company received your correspondence. Keep copies of your dispute letter and attached documents.

Are you having trouble paying your bills? Are you receiving persistent collection notices from your creditors? Are Your Creditors Referring Your Accounts To Debt Collection Companies? Are you worried about losing your home or car? You are not the only one, many people face a financial crisis at some point in their life. Whether your problem is due to a personal or family illness, because you lost a job, or simply because you have spent too much, it can seem like a stressful situation, but it can often be overcome. Your financial situation doesn’t have to go from bad to worse.

If you are refinancing your mortgage or applying for an installment home equity loan, you may be covered by the Home Ownership Protection and Mortgage Amortization Act (HOEPA). This law addresses certain deceptive and unfair home equity loan practices and sets requirements for certain loans with high rates and fees. This type of loan is also called “Section 32 Mortgages” since that is the name and number of the section of the law that establishes the corresponding regulations.

If you decide to finance the purchase of your car, know that the financing offered by the dealer may not be the most convenient, even when the dealer contacts the lender on your behalf. Establish direct contact with the lenders. Compare the financing offered by lenders with the financing offered by the dealer. Since loan offers vary, do a search for the best terms, compare the annual percentage rate (APR) and the length of the loan. When you are negotiating car financing, don’t just focus on the amount of the monthly payment. The total amount that you will end up paying will depend on the price you can negotiate for the car, the APR rate and the duration of the loan.

Contact a credit counselor or advisor. Reputable credit counseling organizations offer advice on managing money, bills, and debts, and help people develop a budget, and usually offer free information and workshops on these topics. Advisors or counselors should discuss your overall financial situation with you and help you develop a personalized plan for getting out of debt.
There is a new law that requires credit card issuers to include a toll-free phone number on their account statements so that credit card holders can find information on how to find non-profit credit counseling organizations.