HOLLYWOOD VIDEO LATE CHARGES ON YOUR CREDIT REPORT CAN KEEP YOU FROM GETTING CREDIT

Its been over a year since Hollywood Video closed its last store, but that’s not keeping the company from trying to collect on over $200 million in alleged late fees.  Hollywood Video has made a deal with National Credit Solutions, a debt collection agency, and is dunning consumers with collection letters and reporting late fees and collection accounts to credit reporting agencies such as Equifax, Experian and Trans Union.

According to numerous news reports, consumers have been unable to dispute the debts to Hollywood Video or its debt collector.  As a result, inaccurate information is finding its way into consumers’ credit files.  Collection accounts can keep consumers from obtaining credit, insurance or a job.  Derogatory information in a credit file can also lead to higher interest rates – meaning credit will cost more over the life of a loan!

The only way to know if Hollywood Video or a debt collector is reporting negative information about you is to request your free credit report from all three bureaus.  The best way to do this is to download the Free Annual Disclosure Request Form and mail your request.

Have you discovered incorrect information on your credit report?  Contact attorney Micah Adkins at 1-800-263-9091 24/7 for a free information about disputing credit report errors.

[contact-form] [contact-field label=”Name” type=”name” required=”true” /] [contact-field label=”Email” type=”email” required=”true” /] [contact-field label=”Telephone Number” type=”text” required=”true” /] [contact-field label=”How can we help you?” type=”textarea” required=”true” /] [/contact-form]