Experian (formerly TRW)
P.O. Box 949
Allen, Texas 75013-0949
(800) 682-7654

Equifax Information Service Center
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111

Trans Union Consumer Disclosure Center
P.O. Box 390
Springfield, PA 19064-0390
(610) 690-4909

     There are a number of ways to request a copy of your credit report from one of the above. You can:
     1) Send the credit bureau a request letter. Enclose a copy of a billing statement from a major national bank card, a utility bill, or your driver's license for security purposes. Also, be sure to include specific information, such as your full name, date of birth, Social Security number, current and former addresses, current employer, spouse's name, day and evening phone numbers, etc.
     2) Order by phone using the credit bureau's automated credit-report-request system and pay for your report with your bank card.
     3) Order an online copy of your credit report, if you have access to the Internet (not all credit bureaus offer this option).
     In most states, getting your open credit report costs $8. It's a good idea to check with each agency for updated fee and procedural information.
     Also, call the consumer-protection division of your state attorney general's office to see if your state has mandated any special prices for credit reports.
     3. Can some student loans be discharged in bankruptcy?
     There are two ways to get student loans discharged in bankruptcy:
     1) Section 523(a)(8)(A) of the U.S. Bankruptcy Code allows for the discharge of student loans if the first payment became due more than seven years before the filing of the bankruptcy, exclusive of any suspension of the repayment period.
     In other words, count back the years since the date the note first became due, then subtract the amount of time that you were not required to make payments.
     If the total is more than seven years, then the student loan debt is dischargeable. If not, it's not.
     However, it's a good idea to double check with your attorney as to your specific situation.
     2) Section 523(a)(8)(B) of the bankruptcy code allows the discharge of student loans that have been due and owing for less than seven years, if repayment "will impose undue hardship on the debtor and the debtor's dependents."
     While this may sound like an easy way out, most bankruptcy judges are hard-pressed to allow a hardship discharge of student loans.
     As one of my associate attorneys says, "You have to be practically dead to convince the court to discharge a student loan for reasons of hardship."
     4. It's my understanding that all references to my bankruptcy must be removed from my credit history after 10 years. Is that from the time I filed or from the discharge date?
     My belief is that the credit bureaus interpret language in the U.S. Fair Credit Reporting Act as forbidding the reporting of any bankruptcy 10 years after the date of discharge.
     Interestingly, it is the written policy of Associated Credit Bureaus that a completed Chapter 13 should be reported no more than seven years from the date filed.
     If you have completed a Chapter 13 plan and it is showing up on your credit report after seven years, it may help to advise the credit reporting agency in writing that they are acting against the ACB's policy (as stated in ACB's pamphlet "How to Comply with the Fair Credit Reporting Act").
     If you wish, you can also contact the Consumer Relations Department of the ACB at (202) 371-0910. They are a good resource to go to with any questions you may have concerning credit agencies and applicable laws.
     5. My wife and I gross more than $50,000 a year between us. However, because of our spending habits, we had racked up more than $15,000 in credit-card debt. It was hard to keep up with all the minimum payments, and our credit reflects "slow pays," but we never defaulted. We have now paid off almost half of our credit card debt, but I'm worried about the slow pays on our record. How do we repair the damage of our prior ways?
     Negative information like "slow pays" will fall off of your credit report after seven years, pursuant to the U.S. Fair Credit Reporting Act.
     Until then, you can take the time to explain to the people you want credit from that you had problems in the past, but that your situation has improved.
     You are entitled to file a 100-word statement to explain what difficulties you had in the past, and how and why your situation has improved.
     The credit bureau is supposed to provide the statement to creditors who ask for copies of your credit report, but there is no guarantee that the credit grantor will take it into consideration.
     It is always going to be much easier to ask for credit from people in your local community than from national credit grantors.
     It's easier to sit across a desk from someone and give them the details of what happened, and have the opportunity to convince them that you're worthy of new credit.
     By the way, if you have problems creating the 100-word statement, the law says that the credit bureau must assist you in preparing it.
     6. I have a son who currently lives with his mother out of state. She has been attending college and taking out large student loans. I believe her loans probably total $80,000 or more. She is now running up a credit card at more than $1,500, and probably has other creditors who are owed money. I pay child support, and she has not been able to find a job (I don't believe she is going back to college this fall). Assuming she gets a low-paying job, should she declare bankruptcy at that point?
     Don't presume necessarily that she will get a low-paying job. It appears that she has some education.
     But if she in fact does find a low-paying job and it is unreasonable to think that she will be able to pay the $80,000 student loan (plus any other debts that she has acquired) then bankruptcy could be a solution.
     However, the best time to file bankruptcy would be when she is sure that the student loans could be discharged. (refer to Question No. 3 above as to the rules about discharging student loans in bankruptcy.)
     She would have to wait until seven years after the student loans first became due. If her situation has still not improved, she can then file bankruptcy and get the $80,000 wiped out.
     While she is waiting for her situation to improve or for the seven years to run, she should contact the creditor to whom she owes the student loan, explain the situation, and work out an interim arrangement to pay.
     In most hardship situations, creditors will allow for temporary small payments until they see if the person is going to get on their feet again.
     The problem with student loans is that there is no statute of limitations for them. This means that unlike other debts, which could be non-collectable after a certain period of time, a student loan is owed until you pay it, discharge it in bankruptcy, or die.
     7. I am currently going through a divorce and expect my credit to be pretty well ruined by the time it is over. What should I do to protect my credit now as well as rebuild it after my divorce is over?
     1) Make sure you have good credit in your own name. If you don't, delay your divorce if possible until you can get some individual credit and open a bank account in your own name.
     2) Know the status of the accounts you and your spouse are currently using. Are they "joint," "authorized user," or "individual"? Is each account current? If you already have either joint or individual accounts, obtain a copy of your credit report from each of the "Big Three" credit agencies (see Question No. 2 above) and address any problems you may find in them.
     3) If some of the accounts in your credit record are joint accounts with negative histories, and if the adverse information is the fault of your soon-to-be former spouse or the result of circumstances beyond your control, prepare a written explanation of the reasons for the negative information, and ask the credit bureau to make this explanation a permanent part of your credit history.
     4) Pay all bills and credit card debts you share with your spouse from your joint funds. Then, send a letter to each creditor canceling the cards. If you leave the accounts open, you risk being liable for the balances on the accounts. You can then reopen new accounts separately, in your own name.
     Note that even if your divorce agreement says that your spouse will be 100 percent responsible for an account, from a creditor's perspective, you continue to be legally liable as long as your name appears on the account.
     8. I was divorced in 1995. One week before the final hearing my now ex-wife declared bankruptcy. Beside being handed thousands of dollars of her credit-card debt, a bankruptcy is listed in my credit file. What can I do to get her bankruptcy off my credit file? I have paid all of my bills (and hers) on time since the divorce.
     It is important that you know about the Equal Credit Opportunity Act (ECOA), enacted in 1974 to help ensure that -- among other things -- women are not denied access to credit simply because of their sex.
     The ECOA requires creditors to report account-payment data in the names of both spouses on any accounts that a married couple both use or are both liable for. This means that there should already be separate credit files for you and your ex-wife.
     Therefore, obtain copies of your credit reports from each of the "Big Three" credit bureaus. If the bankruptcy does in fact appear on your own reports, take the following steps to try to correct the problem:
     1) Dispute the incorrect information in your credit file by either writing a letter to the three main credit bureaus, or by completing the special-investigation-request form that should have come with your report.
     2) The Fair Credit Reporting Act says that a credit bureau must respond to you after you have contacted it about a problem in your credit record within 30 days of receiving your investigation request form. If you haven't heard from the credit bureau within this time frame, call it. If the credit bureau cannot verify the accuracy of the information within 30 days, they must by law to delete it from their files.
     3) If the credit bureau refuses to correct the error, then your next option is to contact the U.S. Federal Trade Commission or the consumer-protection division of your state attorney general's office. The FTC address is:

Federal Trade Commission
Credit Practices Division
Washington, D.C. 20580

     4) If this still doesn't correct the problem, you can sue the credit bureau for actual and punitive damages. To find an attorney who will file a suit like this for you, contact your local bar association's referral service.
     However, be aware that it is very tough to prove intent in these cases, and that credit bureaus usually win.
     9. Why can't credit bureaus be sued for spreading false information when they get it wrong? It seems that these anonymous institutions -- which wield so much power -- should at least be forced to submit to some form of arbitration. Also, how do you break through and contact these czarist organizations directly? They don't answer phones, never respond to letters, and when they do, they never correct anything on the credit records.
     The credit bureaus absolutely can be sued for negligent and willful non-compliance with the Fair Credit Reporting Act. Take the steps described above to get copies of your credit report and to resolve any disputes.
     You should also know that a new law, the Credit Reform Act, goes into effect in October, offering some additional protections for consumers. Space prevents me from listing all of the additional protections for consumers, but you can get a copy of the Credit Reform Act from:

Associated Credit Bureaus
1090 Vermont Avenue NW
Suite 200
Washington, D.C. 20005-4905