If There Is Incorrect Information in Your Credit File

question 11

Multiple Choice

If there is incorrect information in your credit file:

• A) you should sue the credit bureau.
• B) the credit bureau has no power to change it.
• C) the credit bureau must reinvestigate and modify or remove inaccurate data.
• D) you must wait at least six months prior to launching an investigation.
• E) you have no means of correcting it.

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Definitions:

Accrued Interest

The interest that has accumulated on a financial obligation over a period of time but has not yet been paid.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.

Accrued Interest

Interest that has been incurred but not yet paid.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.