Aggressive Advocates For Your Rights

What are your rights under the Fair Credit Reporting Act?

The Fair Credit Reporting Act, enacted in 1970, is an example of complex federal legislation. Its main function, however, is to regulate the way the consumer reporting agencies use information about you.

The FCRA gives you certain rights as a consumer. You can obtain your own information from the consumer reporting agencies, for example, or give your consent before an agency provides your personal information to other parties.

Limiting access

FCRA rules limit access to your credit information. Let us say you are interviewing for a new job and the company’s human resources department wants to take a look at your credit report. You may view this as an intrusion into your private life, but if a review of your credit standing does not bother you, HR will need to have your written consent in order to access the report.

Correcting information

If you find that one of the consumer reporting agencies has included inaccurate information on your credit report, the agency must investigate your complaint with the source of the information. If there is verification of the error, the agency must either correct or delete the inaccurate information from your record.

Fulfilling your requests

The FRCA rules state that, upon your request, the consumer reporting agencies must allow you to see your credit files and your current credit score. You can also request that all three national reporting agencies remove your name from any marketing lists.

Helping you move forward

You have many rights under the FCRA, including the right to know if about information on your credit report used against you — in your job hunt, for example. In our modern age, matters pertaining to credit reports have become increasingly important, not only in terms of seeking employment but also in trying to obtain a mortgage or a personal loan. An attorney experienced with FCRA regulations will tell you that knowledge is power, something that is very useful when you are dealing with credit reporting issues in order to move confidently toward the various objectives in your life.




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