GuardMyCreditFile: - What do I do when my credit application is rejected?

First, you are to be notified why you were rejected and where the credit report was obtained from. Ask the creditor if it was due to your credit score. Ask what your score was. Ask what your score needs to be to get credit.

Second, you are elligible for a free credit report. It can take two to three weeks to get it.

Third, you can dispute anything that is incorrect. The CRA has 30 days to verify the information or remove it from your report.

Comments

Bev - none

|From:96.251.42.xxx |2009-04-23 23:37:56

My daughter has 2 vehicle repossessions in 2004 and 2005 on her credit report. These creditors continue to update her credit report yearly as if they just happened. Is this legal?

jmalmberg

|2009-04-24 15:25:54

The repossessions will remain on her credit report for seven years and her creditors do have the right to report them. That being said, they have to use correct dates. They can't legally change the date of the repossesions to 2009.

Bev - none

|From:96.251.42.xxx |2009-04-24 16:44:01

Thank you for your prompt reply. One more question.

What action can she take to get these dates rectified?

cat101 - RE: Repossession

|2009-04-24 17:31:13

She should first dispute the dates with the CRA (TransUnion, or Experian, etc). Send any supporting documents with the dispute. They have 30 days to verify. After verified, they will send you a corrected credit report. You should of received a "How to Dispute" with your credit report.

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