Credit Challenged

McCullough Metro Motors is in the business of helping people. We understand that bad things happen to good people and whether you have good credit, bad credit, or even a bankruptcy, we are here to help. Through our network of lenders, we are able to get your auto loan application to the right place at the right time, greatly increasing your chances of getting financing and getting a low percentage rate. As always, the application is always free.

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Our network of lenders has the experience to help you get the most competitive rate on a new or pre owned vehicle. You can apply for auto loans online for free with absolutely no obligation.

Your secure application will be instantly forwarded to a member in our dealer network specially qualified in your area. Bad credit? No problem, McCullough Metro has a special network of bad credit auto loan specialists who will work closely with you to get the best results possible

CREDIT SCORE

DID YOU KNOW that your credit score ends up saving you hundreds, or even thousands, of dollars on your new or used vehicle? Lenders use credit scores to help them determine the “credit worthiness” of consumers applying for an auto loans. The credit score will probably be used for figuring out whether you qualify for credit, and if so, what terms and interest rates you will receive.

Credit scores are calculated based on data in your credit reports and, as fluid numbers, change over time, sometimes on a daily basis! That’s why it’s so important to stay on top of your credit reports for changes that could affect your credit scores.

It is good idea to request a copy of your credit report on a yearly basis and check the report for it accuracy. You can obtain a copy of your credit report at:

www.equifax.com www.transunion.com www.experian.com

There are a number of services that can provide you credit monitoring such at www.freecreditreport.com We’re your credit connection. If you or someone you know has had setbacks due to medical bills, divorce slow payments or even bankruptcy, we can help. McCullough Metrospecializes in getting people the credit they need to get back on the road quickly.

CREDIT REPORT

What is a credit report?

Your credit history and other personal information about you, is collected and kept on file with major credit reporting agencies (“CRAs”). CRAs provide your credit report information to businesses that, under the law, have the right to obtain and use your otherwise private credit information when, for example, you apply for credit, insurance, or employment. You have a credit record on file at a CRA if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.

Annually, over 2 billion credit reports are sold to businesses, so most American consumers have had their credit reports looked at many times each year. However, every year only a small percentage of consumers ask for and receive copies of their own credit reports.

What’s in my credit report?

Your credit report contains the following types of information:

• Your name and your spouse’s name.
• Where you live, where you work, and where you used to work
• Social Security number, prior addresses, phone number and birth date.
• If you’ve paid bills on time.
• How much credit you have available.
• If you’ve been late with rent or a mortgage payment.
• Whether and to whom you have made an application for credit or a loan.
• Companies who obtained your credit report and
• Bankruptcies, foreclosures, court judgments, convictions or tax lines.

What is a credit or insurance score?

Credit scores or insurance scores refer to a system used by companies to assist in evaluating a consumer’s relative creditworthiness, insurability, or employability. Businesses use a variety of formulas to translate a consumer’s credit information into a credit or insurance score. Federal law allows companies to use credit information including scores, when deciding whether to issue insurance, extend credit, or hire someone.

Why should I care about possible errors in my credit report?

While a good credit report can help you, errors in your credit report can cost you money. The General Accounting Office of the U.S. Congress has stated that accurate credit reports are critical to the credit process

– for consumers attempting to obtain credit and to lending institutions making decisions about extending credit. Similarly, the Federal Trade Commission has told consumers that, because businesses use credit report information to evaluate consumers’ applications for credit, insurance, employment, and other purposes allowed by the Fair Credit Reporting Ace (FCRA), it’s important that the information in consumer credit reports are complete and accurate. Industry officials and studies indicated that credit report errors could either help of hurt individual consumers depending on the nature of the error and the consumer’s personal circumstances. Although the government concluded that there was insufficient evidence to indicate whether significant errors were common or rare in credit reports, it did conclude that a good way to help ensure the accuracy of credit reports is for consumers themselves to review their own consumer credit reports.

If there are mistakes in your credit report costing you money, only you are in the best position to discover them and do something about it. You may think you have great credit and don’t need to worry about it, but you may be surprised at what is in your actual credit report. Your report may show late payments that were actually made on time. Or it may fail to show positive information about your credit, such as accounts that you have always paid on time. On the other hand, your report may be completely accurate. Unless you check it yourself, you may not know.

What is identity theft?

Criminals can use consumers’ information for their own benefit. By stealing a person’s private financial information, thieves can pose as that person and run up thousands of dollars in debt in the victim’s name. The Federal Trade Commission estimates that more than 27 million Americans have been victims of identity theft in the last 5 years, including 9.9 million Americans in the last year alone.

The sooner you realize you’re a victim of identity theft, the less damage can be done People whose identities have been stolen can spend months or years, and their hard-earned money, cleaning up the mess thieves have made of their good name and credit record. In the meantime, victims may lose job opportunities; may be refused loans, education, housing or cars; or even get arrested for crimes they didn’t commit. The risk of identity theft is another reason why looking at your own credit report regularly is so important. In fact, the FBI recommends that everyone check their own credit report twice a year.

Can I see what is in my credit report?

Yes. If you contact any of the major credit reporting agencies, they must give you the information they keep on file about you. There are three major credit reporting agencies in the country that probably have a credit file on you. They are Trans Union, 1-800-916-8800, www.transunion.com; Equifax, 1-800-685-1111, www.equifax.com; and Experian, 1-888-397-3742, www.experian.com. There is more information on the back about how to get a copy of your credit report.

What do I need to know about free credit reports?

There’s no charge for a credit report if a company takes adverse action against you, such as denying your application for credit, insurance or employment, and you request your report within 60 days of receiving the notice of action. The notice will give you the name, address, and phone number of the credit reporting agency. Recent changes to the law now entitle everyone to request one free credit report per year from the major credit reporting agencies.

To order your free annual report go to www.annualcreditreport.com where you can order your report directly or download the Annual Credit Report Request form to mail in your request. You can also call 1-877-322-8228. Otherwise, a credit reporting agency may currently charge you up to $9.50 for a copy of your report. You are not entitled to a credit score with your annual free report.

A credit score generally costs $5.95. The free credit report with a credit score included in this class action settlement is in addition to any other free report you might request. Experts agree that you should review your credit report more than once per year. Since information in credit reports changes frequently, the FBI advises consumers to check their credit reports twice a year. Even if you have not been denied credit or insurance, you may want to see the information in your credit report. You may sometimes see offers for “free credit reports,” but read the fine print carefully. They are usually selling you a credit-monitoring service for a fee that you automatically register for when you order your “free credit report.”

What is the Fair Credit Reporting Act?

In 1970, Congress passed the Fair Credit Reporting Act (FCRA). The FCRA limits, among other things, the occasions on which a company may receive a copy of your credit report. It also requires the company, if it takes adverse action against you based in whole or in part on information in your credit report, to tell you of its decision. The company must also tell you the name of the credit reporting agency that provided your credit report to it, and information on how to contact that credit reporting agency. The company must also advise you of your right to obtain a free copy of your credit report that was used to take adverse action against you.

How can I fix errors in my credit reports?

Additional information about these topics is available at the website www.ftc.gov In general, you may notify a credit reporting agency that there are errors in your credit report, and provide any documents you have to support your position. Under the law, the agency must conduct an investigation into the accuracy of the information. This includes contacting the source of the information that you believe is incorrect and obtaining verification. Generally, the agency has 30 days to investigate. After the agency completes its investigation, it has 5 days to report back to you. If the agency can’t verify the negative information, it has to delete it. If the negative information stays in your file, you have the right to have it marked as disputed information.

No one can legally remove accurate negative information from your credit report. The Federal Trade Commission suggests that you be wary of companies that promise “quick fixes” or “repairs” to your credit.

Where can I get more information about my rights concerning my credit report?

You can find helpful information at the following locations:

http://www.ftc.gov (the Federal Trade Commission website);
http;//www.naca.net (the website for the National Association of Consumer Advocates); or
http://www.nclc.org (the website for the National Consumer Law Center).