FREQUENTLY ASKED QUESTIONS

Can I See My Credit Report?
Most credit grantors are not allowed by the credit reporting companies to show you your own credit report. But you can purchase your credit report from the credit reporting companies for a fee. Once you receive your credit report, you may find that you cannot read it because the information is listed in an unfamiliar code. Trans Union and Equifax credit reports are very difficult to interpret and understand. Experian credit reports, however, are relatively easy for most people to read.

Who Looks at My Credit Report?
Prospective creditors will always review at least one of your credit reports before granting you credit. Today it is increasing common for insurance companies to review your credit before extending auto or health insurance. Many employers now check credit before they consider you for a position. If you rent, you may have already been through a credit check to determine your worthiness as a renter.

How Much Bad Credit Does it Take to be Denied Credit?
As you may have already experienced, even one late pay listing may result in credit denials. Any negative credit whatsoever can become a substantial credit obstacle.

What is a Charge Off?
When you become very delinquent on an account, the creditor will probably charge it off. This means that they have written the debt off as a loss for tax purposes. This does not mean that they have given up collecting on the debt. The creditor is now likely to either sell the debt or send it to collections. Charge offs are very negative listings, but they can often be settled through debt settlement for much less than you owe.

How Long Will it Take?
Each case varies, and the credit reporting company’s response to each dispute varies. If credit reports are received promptly, you should see significant progress within the first 60 days. After that, progress should be steady. The speed of your progress will depend on your participation, the nature of your case, and the level of credit reporting company’s cooperation.

How Do You Do this Legally?
According to the Fair Credit Reporting Act, disputing your credit report is your right. Credit restoration is as legal as pleading “not guilty” in a court of law.

What if Deleted Items Reappear on My Credit Report?
On occasion, a negative listing that was recently deleted will be eventually verified by the creditor. The new Fair Credit Reporting act requires that the credit reporting company inform you before they re-report a previously deleted listing. The FCRA also makes it more difficult for credit reporting company to re-report listings. Because of these factors, it is fairly rare for listings to come back on once they’ve been deleted. If an item is re-reported, it is simply a matter of challenging the listing again at a future date to press for permanent deletion.

Why Do I Need to Pay My Bills?
When Streamline Financial, Inc. causes the credit reporting company to delete a negative credit report listing, the actual debt behind the listing remains the same. You still owe the same money that you owed in the first place. If you don’t pay the debt, the creditor or collection agency could always re-report the item. So removing the listing without addressing the debt is only a temporary solution.

Does Paying Off My Bills Correct My Credit?
Unfortunately, the credit reporting system doesn’t work that way. When you pay an old debt, the negative credit listing doesn’t disappear. In fact, it re-ages your accounts with that negative listing. In most cases a paid, current negative listing is not any better than an unpaid negative listing.

How Will I Get Updates?
Credit reports will arrive first at your home and then you will forward them to us. When we accomplish deletions and improvements on your behalf, you will see them first on your credit report.

Can I Correct My Own Credit?
Given the proper background and experience, you could do yourself most of what our staff does. It is much like your right as a citizen to represent yourself in court. Most people choose our process because it has been developed based on enforcement of the FCRA and years of experience. But, should you wish, you could represent yourself.