Fair Credit Reporting Act: What You Should Know About It?
The Federal Fair Credit Reporting Act (FCRA) is designated to promote accuracy, fairness, and privacy of information in the files of every "consumer reporting agency" (CRA) or Credit Bureau. Learn what the law says and repair your credit today!
Most CRA are credit bureaus that gather and sell information about you, such as if you pay your bills on time or have filed bankruptcy.
They sell this information to creditors, employers, landlords and other businesses; and that's why you should be sure that the information they have on you is accurate and correct.
You can find the complete text of the FCRA 15 U.S.C. 16-81-1681u, at the Federal Trade Commission's website (www.ftc.gov) but here you can find the summary of your rights.
1. You must be told if information in your file has been used against you
2. You can find out what is in your file
3. You can dispute inaccurate information with the CRA
4. Inaccurate information must be corrected or deleted
5. You can dispute inaccurate items with the source of the information
6. Outdated information may not be reported
7. Access to your file is limited
8. Your consent is required for reports that are provided to employers, or reports that contain medical information
9. You may choose to exclude your name from CRA lists for unsolicited and insurance offers.
10. You may seek damages from violators.
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Carmen Shearer is the President and CEO of S&S Financial Solutions. She has worked in the finance arena for over 10 years and holds two engineering degrees and an MBA from a branch of Harvard Business School. S&S Financial Solutions offers you credit repair tools and information with a lifetime guarantee. For more credit related information go to: http://www.excellentcreditnow.com
MORE RESOURCES:
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 The Associated Press | US will work with partners on credit crisis: Bush CBC.ca, Canada - It was the 21st time in 26 days that the president has spoken publicly about the credit crisis gripping financial markets and dragging down stock markets. ... Meeting G7, Bush Vows World Economic Fix |
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 BBC News | IMF endorses G7 plan to fight global credit crisis CTV.ca, Canada - The International Monetary Fund is backing a plan by Canada and the other G7 countries to fight the worldwide credit crisis, which continues to play havoc ... Video: IMF: Timing right for G7 Credit CRISIS ALERT Press demands some G7 credit crunch punch |
 Boston Globe | Transcript: President Bush's Radio Address FOXNews - The Fed has joined with central banks around the world to coordinate a cut in interest rates — a step that should help free up credit. ... Text of Bush's remarks Friday on the economy Comprehensive strategy to tame crisis: Bush Bush says financial rescue plan big enough to work |
DTCC Addresses Misconceptions About the Credit Default Swap Market MarketWatch - Since that time, the vast majority of credit default swaps traded have been registered in the Warehouse. In addition, all of the major global credit default ... |
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