The Four Laws of Credit Report Repair
- By Stuart Hunter
- Published 01/22/2009
- Credit
- Unrated
Fortunately for today's consumer, half a century ago Congress realized the credit reporting system needed legislation. The practices of the credit bureaus and the agencies using the credit reports they provided were deplorable. American consumers were being taken advantage of by a system they had no way of influencing and no way of keeping in check.
To combat these abuses, Congress created the Fair Credit Reporting Act (FCRA) which with its subsequent revisions has become the cornerstone of your credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what information is recorded on your credit files and to work to correct any inaccurate negative items they contain.
Along with the Fair Credit Reporting Act, there are other consumer protection laws that give consumers certain rights when you are working with the creditors and collections agencies who provide information to the credit reporting agencies. By being aware of and making use of their rights under each of these statutes, consumers have been able to successfully repair their credit score.
Fair Credit Reporting Act
The Fair Credit Reporting Act (FCRA) is what got credit repair started. Because of this act, you have the right to order copies of your credit file and to dispute bad credit directly with the credit reporting agencies.
Fair Debt Collection Practices Act
Along with protecting your against abusive behavior from debt collectors such as contacting you at unusual hours, screaming at you, using vulgar language, lying about their identity, or threatening violence while trying to collect a debt, the Fair Debt Collections Practices Act gives you powerful debt validation tools that give you the right to challenge any debt.
Fair Credit Billing Act
Similar to how the Fair Debt Collection Practices Act governs collections agencies, the Fair Credit Billing Act (FCBA) gives you the right to dispute questionable negative credit listings directly with your original creditors in order to modify how they are reporting your accounts to the credit bureaus.
Credit Repair Organizations Act
With all the laws surrounding credit repair, it can be overwhelming for a newcomer trying to repair their credit rating. Fortunately, there are reputable credit repair firms who help consumers work towards a fair and accurate credit score. These credit repair organizations are regulated by the Credit Repair Organizations Act which helps prevent consumers from becoming a victim of a credit repair scam.
To combat these abuses, Congress created the Fair Credit Reporting Act (FCRA) which with its subsequent revisions has become the cornerstone of your credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what information is recorded on your credit files and to work to correct any inaccurate negative items they contain.
Along with the Fair Credit Reporting Act, there are other consumer protection laws that give consumers certain rights when you are working with the creditors and collections agencies who provide information to the credit reporting agencies. By being aware of and making use of their rights under each of these statutes, consumers have been able to successfully repair their credit score.
Fair Credit Reporting Act
The Fair Credit Reporting Act (FCRA) is what got credit repair started. Because of this act, you have the right to order copies of your credit file and to dispute bad credit directly with the credit reporting agencies.
Fair Debt Collection Practices Act
Along with protecting your against abusive behavior from debt collectors such as contacting you at unusual hours, screaming at you, using vulgar language, lying about their identity, or threatening violence while trying to collect a debt, the Fair Debt Collections Practices Act gives you powerful debt validation tools that give you the right to challenge any debt.
Fair Credit Billing Act
Similar to how the Fair Debt Collection Practices Act governs collections agencies, the Fair Credit Billing Act (FCBA) gives you the right to dispute questionable negative credit listings directly with your original creditors in order to modify how they are reporting your accounts to the credit bureaus.
Credit Repair Organizations Act
With all the laws surrounding credit repair, it can be overwhelming for a newcomer trying to repair their credit rating. Fortunately, there are reputable credit repair firms who help consumers work towards a fair and accurate credit score. These credit repair organizations are regulated by the Credit Repair Organizations Act which helps prevent consumers from becoming a victim of a credit repair scam.