Peggy Palms Attorney at Law (c) 2018 All Rights Reserved.
An important Federal Law, the Fair Credit Reporting Act, (FCRA) ensures the accuracy, fairness, and privacy of the information about you in the consumer reporting bureau agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies, such as agencies that collect and sell information about your medical records, check writing history, and rental history. The FCRA protects you from violations in all these areas.
The Fair Credit Reporting Act (FCRA) is law that's there for YOU, the consumer.
This gives you rights related to the collection and use of your credit history.
Here are some of your rights under the FCRA:
1. Consumer reporting agencies (CRA) may not report outdated negative information. Thus, negative information more than seven years old or bankruptcies more than 10 years old may not be reported by CRAs. This can be a huge thing for your credit score if we can get these violations corrected.
2. CRAs can't share your credit information with just anyone. They can only release your credit report to a verified business, usually for consideration of a credit application for getting a mortgage, applying for a rental, or when required by an employer.
3. If you apply for employment where a credit report is required, you must give consent in writing for reports to be provided to the employer during the application process.
4. You have the right to limit receipt of any “prescreened” offers of credit and insurance. Unsolicited “prescreened” offers for credit and insurance must include a toll-free phone number so you can remove your name and address from theirsolicitaiton lists.
5. If any company violates the FCRA, you have the right to be compensated for your damages for willful and negligent violations of the FCRA, as long as you can show "concrete" or "real" harm as a result of their actions.
6. Identity theft victims and active duty military personnel have additional rights under the FCRA. Identity theft victims may place fraud alerts on their credit file to counteract identity theft. Active duty military personnel serving at a location away from their regular duty station may place "active duty" alerts in their credit file.
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