FAQ

Listed below are the most-frequently asked questions related to how credit works.

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How do I obtain a FREE copy of my credit report?
Can you provide information about opting out of pre-screen offers?
How do I contact the credit bureau?
Is there Fraud Victim Assistance available?
Where do I go to dispute an item on my credit report?
How do I correct information submitted to the credit bureau by Heights Finance?
Is there a way to place a freeze on my credit report?
How long does credit information remain on a credit report?
What affects my credit score?


How do I obtain a FREE copy of my credit report?

It is very important for you to monitor your credit report. Each credit bureau provides the opportunity to obtain a free copy of your credit report annually.

Free online credit reports are available at: www.annualcreditreport.com


Can you provide information about opting out of pre-screen offers?

You can contact any creditor directly to be placed on their Do Not Advertise list. However, to remove your name from all pre-screen offers, you can call toll-free 1-888-567-8688 or visit www.OptOutPrescreen.com.


How do I contact the credit bureau?

Visit the credit bureau website for contact information.

TransUnion: Visit www.transunion.com

Equifax: Visit www.equifax.com

Experian: Visit www.experian.com


Is there Fraud Victim Assistance available?

All the major bureaus provide fraud victim assistance. You can contact them directly or visit them online - simply select your credit bureau to access the information.

Equifax

TransUnion

Experian


Where do I go to dispute an item on my credit report?

You have the right to dispute any items reported on your credit report. You can contact the major credit bureaus directly or visit them online for assistance. Simply select your credit bureau to access the information.

Equifax

TransUnion

Experian


How do I correct information submitted to the credit bureau by Heights Finance?

Due to privacy issues, Heights Finance is unable to provide any information or make any corrections by phone or email. Listed below are the instructions on how to file for your credit bureau dispute.

Please notify us if you believe that we may have reported any inaccurate information about your accounts to consumer reporting agencies. Such notices are to be in writing and should include your complete name, current address, social security number, telephone number, account number, specific item of dispute and why you believe the information reported is in error. Send your notice to Heights Finance Corporation, Attn: Branch Support Services, 7707 N. Knoxville Ave. Suite 201, Peoria, IL 61614.


Is there a way to place a freeze on my credit report?

A security freeze is a way for you to control access to your credit. If you have reason to believe that you are a victim of fraud or identity theft or if you are very concerned about the potential of becoming a victim, you may wish to explore the option of placing a freeze on your credit file. Each credit bureau provides online assistance to report fraud, identity theft and procedures for putting a freeze on your file.

Simply select your credit bureau to access the information.

Equifax

TransUnion

Experian


How long does credit information remain on a credit report?

Each credit bureau may vary slightly on how long information is maintained on your file. Here are the standard timetables:

Bankruptcy - Chapter 7, 11, and 13 bankruptcies remain on a credit report for 10 years after filing. Chapter 13 bankruptcy records are sometimes taken off after 7 years, depending on the credit reporting agency policy.

Charge-off accounts - If a delinquent account is charged-off it appears on a credit report for 7 years.

Closed accounts - Delinquent accounts remain on a credit reports for 7 years. Positive closed accounts (without late payments or other delinquencies) may appear for more than 7 years.

Collection accounts - Accounts sent to collections can be listed on a credit report for up to 7 years.

Inquiries - When a creditor or lender checks your credit, you'll see a "hard inquiry" on your credit report. These stay on a report for as long as two years.

Judgments - Most credit report judgments remain on a credit reports for 7 years from the date they were filed.

Late payments - If a late payment is made, the 30-180 day delinquency could appear on a credit report for up to 7 years.

Tax Liens - City, county, state and federal tax liens could stay on a report indefinitely. After the lien is paid, the record of it stays on a credit reports for 7 years from the payment date.


What affects my credit score?

According to myFICO (the consumer division of FICO), FICO Scores are calculated from many different pieces of credit data in your credit report. myFICO groups this data into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your FICO Scores are calculated.

For more information on what affects your credit score, visit myFICO.


Employees of Heights Finance are not licensed counselors or certified investment advisors. Information provided to you is for informational and educational purposes only. No information made available to you is intended or should be construed as any advice, recommendation or endorsement from Heights Finance as to any legal, tax, investment or other matter. Heights Finance is not responsible for the actions you take based on the information provided. You should consider whether the information is appropriate in light of your particular circumstances and Heights Finance encourages you to seek out qualified professional assistance before making major financial decisions.


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