The Laws That Make Fixing Your Credit Possible
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Lexington Law
Providing credit repair services since 1991, Lexington Law has helped over 500,000 clients legally take on their credit. Last year alone, Lexington Law helped clients remove over 600,000 negative items from their credit reports. Visit http://www.lexingtonlaw.com for more information. By Lexington Law
Published on 01/20/2009
There are a handful of consumer protection laws created to protect you from unfair practices of the creditors and credit bureaus. It is these consumer protection laws that define what sort of information can be listed on your <a href="http://www.lexingtonlaw.com/credit-reports/">credit reports</a>, how long it can be listed, and how you can dispute inaccurate and unfair negative credit listings.
The Laws Making Fixing Your Credit Possible
Fortunately for you, decades ago Congress recognized that the system of credit reporting needed an overhaul. The practices of the credit bureaus and the creditors using the reports they provided were shocking. American consumers were being abused by a system they had no way of influencing and no way of keeping in check.
To counter this, Congress enacted the Fair Credit Reporting Act which with its subsequent revisions has become the cornerstone of your consumer credit rights. It is because of the FCRA that you have the right to see what information is recorded on your credit reports and to dispute the questionable negative items they contain.
In addition to the FCRA, there are other consumer protection acts that give you certain rights when it comes to working with creditors or collections companies who report to the credit bureaus. By taking advantage of their rights under each of these consumer protection laws, consumers have been able to successfully repair bad credit.
Fair Credit Reporting Act
The Fair Credit Reporting Act is what got credit repair started. Because of this act, you have the right to see your credit reports and to dispute questionable credit directly with the credit bureaus.
Fair Debt Collection Practices Act
Along with protecting your against inappropriate actions from collectors such as contacting you in the middle of the night, screaming at you, using profanity, misrepresenting who they are, or threatening physical violence in an effort to collect a debt, the Fair Debt Collections Practices Act (FDCPA) 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 affords you the right to dispute questionable negative credit listings directly with your original creditors in order to change the way they are reporting your accounts to the credit reporting agencies.
Credit Repair Organizations Act
With all the regulations surrounding credit report repair,credit reporting, it can be overwhelming for a newcomer to try repairing their credit reports. Fortunately, there are legitimate credit correction companies 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 becoming a victim of a credit repair scam.
To counter this, Congress enacted the Fair Credit Reporting Act which with its subsequent revisions has become the cornerstone of your consumer credit rights. It is because of the FCRA that you have the right to see what information is recorded on your credit reports and to dispute the questionable negative items they contain.
In addition to the FCRA, there are other consumer protection acts that give you certain rights when it comes to working with creditors or collections companies who report to the credit bureaus. By taking advantage of their rights under each of these consumer protection laws, consumers have been able to successfully repair bad credit.
Fair Credit Reporting Act
The Fair Credit Reporting Act is what got credit repair started. Because of this act, you have the right to see your credit reports and to dispute questionable credit directly with the credit bureaus.
Fair Debt Collection Practices Act
Along with protecting your against inappropriate actions from collectors such as contacting you in the middle of the night, screaming at you, using profanity, misrepresenting who they are, or threatening physical violence in an effort to collect a debt, the Fair Debt Collections Practices Act (FDCPA) 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 affords you the right to dispute questionable negative credit listings directly with your original creditors in order to change the way they are reporting your accounts to the credit reporting agencies.
Credit Repair Organizations Act
With all the regulations surrounding credit report repair,credit reporting, it can be overwhelming for a newcomer to try repairing their credit reports. Fortunately, there are legitimate credit correction companies 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 becoming a victim of a credit repair scam.