Four Laws Helping You Repair Your Credit
To combat these abuses, Congress enacted the Fair Credit Reporting Act which with its subsequent revisions has become the keystone for constructing your consumer credit rights. It is because of this legislation that you have the right to see what is being reported on your credit files and to work to correct the questionable negative items they contain.
In addition to the Fair Credit Reporting Act, there are other consumer protection laws that give you certain rights when it comes to working with the creditors and collections agencies who provide information to the credit bureaus. By making use of their rights under each of these statutes, consumers have been able to successfully fix bad 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 see your credit file and to dispute questionable 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 in the middle of the night, screaming at you, cursing, lying about who they are, 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 inaccurate negative credit listings directly with your original creditors in an effort to get them to change how they are reporting your account to the credit bureaus.
Credit Repair Organizations Act
With all the laws surrounding credit report repair,credit reporting, it can be overwhelming for a newcomer working to fix their credit . Fortunately, there are legitimate credit correction organizations 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.
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.View all articles by Stuart Hunter
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