Straight Arrow: Consumer FAQ

What's in one of your reports on me?

• ID Information used to make sure that the information in the report is about you.
• A history of where you have lived, how you performed under any leases you may have had, and what previous landlords have reported about you as a resident.
• Places where you have worked.
• A history and current status of your credit accounts, how well you make your payments, and other details. A list of everyone who has reviewed your credit report recently and criminal convictions in your past.

Do your reports contain information about my personal preferences or way of life?

No. Our reports do not contain any information about your lifestyle, religion, national origin, political affiliation, sexual preferences, friends or relatives, medical history or any information about your status as a member of a protected class. All reports are processed in a fair and impartial manner using only information that indicates your ability to perform your end of a lease.

Are there any laws that regulate your business?

The Fair Credit Reporting Act or FCRA is the federal law that regulates our industry. There are also state laws that provide additional regulations. The FCRA gives you the right to challenge the accuracy of information in your report. If you believe that something is inaccurate, you may follow the procedure to have that information re-verified. Any inaccurate information is promptly updated or removed.

How long does accurate negative information remain in my file?

Bankruptcies remain in a credit report for ten years, other information stays for seven years. In the case of successfully completed Chapter 13 bankruptcies, the credit reporting industry maintains the information for only seven years rather than the ten years allowed by law. Information on previous criminal convictions may remain on your report permanently.

How can I correct an error showing up on my report?

You can call us at (877) 542-8966 and we will re-verify the item in question with the source at no cost to you. The law requires that we respond to your request within 30 days.

What about companies that claim they can improve a consumer's credit report for a fee?

The Federal Trade Commission or FTC cautions consumers to be wary of companies that make claims regarding credit repair. Anything a credit clinic can do for you, you can do for yourself. Beware of any organization that offers to create a new identity and/or credit file for you. These actions are illegal. Here are some warning signs that the FTC and others say consumers should look out for to determine if they might be dealing with a credit clinic:

• An organization that guarantees to remove late payments, bankruptcies, or similar information from a credit report.
• An organization that charges a lot of money to repair credit.
• An organization that asks the consumer to write to the credit bureau and repeatedly seek verification of the same credit account information in the file, month after month, even though the information has been determined to be correct.
• An organization that is reluctant to give out their address or one that pushes a consumer to make a decision immediately.
• An organization that wants you to pay for credit services before any services are provided.
• An organization that does not tell you your legal rights and what you can do yourself for free.
• An organization that recommends that you not contact a consumer reporting company directly.
• An organization that suggests that you try to invent a "new" credit report by applying for an Employer Identification Number to use instead of your Social Security number.
• An organization that advises you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.

For a helpful brochure about credit clinics, you can write to the Federal Trade Commission, Sixth and Pennsylvania Avenues, N.W., Washington, D.C. 20004 and request a brochure titled "Credit Repair: Self Help May Be Best." The FTC also provides more information about Credit Repair Scams on their website.

How accurate is the information in my report?

We strive to be as accurate as possible. Our customers stand to lose business if our information is inaccurate, and if they are not happy with the results they receive they won't be our customers for long. So, it is in our best interest to make sure our information is accurate.

Even with all of the effort we put forth in employee training and computer power, an incorrect piece of information will end up on a report eventually. Since we use many other sources of information (such as credit bureaus) the inaccurate information is sometimes in the system of another agency. When these things come up, we work with you to quickly investigate the problem and take the appropriate action. Regardless, we always operate within Federal Law as outlined in The Fair Credit Reporting Act.