|
About Your Personal Credit and Fair Credit Reporting Act (FCRA )
The Fair Credit Reporting Act FCRA is one of the most relevant laws that protects your identity and personal credit information. The FCRA was devised to incite accuracy, privacy and fairness in the information collected and maintained by credit reporting agencies. The FCRA provides specific rights regarding personal credit reports:
1) You must be informed if anything that appears on your credit report is used against you in obtaining credit.
2) When you are denied credit, insurance, or employment, the denying party must provide the name and contact information of the credit reporting agency used to support the denial.
3) Your personal credit file should be accessible to you.
4) Upon request, of your credit score, a credit-reporting agency must give you the information a list of all inquiries of your personal credit within a certain time span.
5) If you have been denied credit, insurance or employment, because of items in your personal credit file within the last 60 days, the fee for requesting your report is free.
6) If you are on welfare, unemployed or have proof that your report is inaccurate, you are entitled to one free report every 12 months.
7) You can dispute errors, mistakes and inaccurate information on your credit report. A credit reporting agency is required to investigate items that you report as inaccurate.
8) By law, credit reporting agencies are required to remove, correct or delete inaccurate information from personal credit reports, if requested.
9) Access to your credit report file is limited to institutions recognized by the FCRA (government agencies, insurers, creditors, employers, and landlords).
10) You may request the removal of your name from credit reporting agency lists used for solicitation of credit or insurance offers.
Learn more about consumer rights and debt management, contact us.
|
