Your Credit Reports

Fortunately for you, decades ago Congress realized the credit reporting system needed an overhaul. The practices of the credit bureaus and the creditors using the reports they provided were appalling. 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 enacted the Fair Credit Reporting Act (FCRA) which with its subsequent revisions has become the cornerstone of your credit rights. It is because of this legislation that you have the right to see what information is recorded on your credit files and to work to correct the questionable negative items they contain.

Along with the FCRA, there are other consumer protection laws that give you 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 taking advantage of their rights under each of these statutes, consumers have been able to successfully repair their credit.

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 inappropriate actions from collectors such as calling you at unusual hours, screaming at you, using profanity, lying about who they are, or using violence in an effort 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 inaccurate negative credit listings directly with your original creditors in an effort to get them to change the way they are reporting your account to the credit reporting agencies.

Credit Repair Organizations Act
With all the regulations surrounding credit correction, it can be overwhelming for a newcomer trying to repair their credit reports. Fortunately, there are licensed credit repair firms who help consumers work towards a fair and accurate credit score. These credit repair companies are regulated by the Credit Repair Organizations Act which helps prevent consumers from being sucked in by a credit repair scam.

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