Alaska Notice of Increase in Charge for Credit or Insurance Based on Information Received From Consumer Reporting Agency

State:
Multi-State
Control #:
US-01410BG
Format:
Word; 
Rich Text
Instant download

Description

Under the Fair Credit Reporting Act, whenever credit or insurance for personal, family, or household purposes, or employment involving a consumer is denied, or the charge for such credit or insurance is increased, either wholly or partly because of information contained in a consumer report from a consumer reporting agency, the user of the consumer report must:


notify the consumer of the adverse action,


identify the consumer reporting agency making the report, and


notify the consumer of the consumer's right to obtain a free copy of a consumer report on the consumer from the consumer reporting agency and to dispute with the reporting agency the accuracy or completeness of any information in the consumer report furnished by the agency.

How to fill out Notice Of Increase In Charge For Credit Or Insurance Based On Information Received From Consumer Reporting Agency?

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FAQ

Most insurance companies using credit information will include it as a factor in determining your rate. For example, someone with a relatively high credit score may pay a lower premium than someone with a relatively low credit score.

Notice of Cancellation The insurer shall maintain proof of mailing of the notice to the first named insured's last known address. B. All notices of cancellation of insurance shall be mailed or delivered at least thirty (30) days prior to the effective date of cancellation during the first sixty (60) days of coverage.

Insurance companies cannot cancel a policy that has been in force for more than 60 days except when: You fail to pay the premium. You have committed fraud or made serious misrepresentations on your application. Your drivers license has been revoked or suspended.

Which provinces allow credit checks? If you live in Ontario or Newfoundland and Labrador, you can breathe easy. It's against the law for auto insurance companies to use your credit score. That's already the situation in Nova Scotia, though you can't be denied insurance if you refuse.

An extraordinary life circumstances exception is when an insurance company takes into account the fact that an unusual event has taken place which could potentially throw off a person's credit score.

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Alaska Notice of Increase in Charge for Credit or Insurance Based on Information Received From Consumer Reporting Agency