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 Outdated information may not be reported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.

Copyright © 2005 Excellentcreditnow.com - All Rights Reserved

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

---

Credit Repair Scams

"Erase Bad Debt !""Remove Negative Items From Your Credit Report"You've... Read More

Credit Repair Services vs. Do-It-Yourself Credit Repair

Millions of Americans suffer because of bad credit these days,... Read More

What Is A FICO Score?

A credit score is most commonly known as a FICO... Read More

Secured Credit Cards- Consumer Tips

Whether you have no credit or damaged credit, secured credit... Read More

Update Your Computer System With Bad Credit Computer Financing

The moment I placed myself in front of the computer... Read More

Beware of Bogus Credit Repair Companies!

So-called "credit repair" companies claim they can remove negative information... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

The Next Person With Credit Problems Got Their First Credit Card Today!

One of the focus areas of my information is the... Read More

Credit Cards: What is the Universal Default Clause?

Most people who carry major credit cards are well aware... Read More

New Credit Scoring Model Could Help Millions

Mark and Beth, a young married couple in their twenties,... Read More

Credit Cards, Merchant Accounts, and Your Bottomline

Q: I'm opening a gift shop and want to be... Read More

Identity Theft ? How Can You Prevent It Happening to You?

The nightmare of identity theft strikes an estimated 750,000 people... Read More

My Student Credit Card Adventure

And some practical advice too!My first credit card?I remember my... Read More

How Businesss Mess Up Their Credit Policies

In "Become the Squeaky Wheel" a book recently published, Michelle... Read More

Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing... Read More

Practical Suggestions for Protecting Yourself From Identity Theft

It's no surprise that thousands of Americans are victimized by... Read More

What Are The Most Common Credit Card Mistakes?

Now in a world with so many easy to get... Read More

What You Need to Know about Debt Negotiation on Credit Cards

Debt negotiation on credit cards is often referred to as... Read More

New Credit Advice: Dont Pay off Those Credit Cards!

Credit needed for real estate mortgage financing differs from credit... Read More

How Your Credit Rating Affects You, and How to Check It

You might not know it, but every time you take... Read More

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

Secured Credit Card is similar to a prepaid credit card... Read More

10 Signs You May Need Credit Counseling

Debt management programs can be of real help for people... Read More

Fight Credit Card Fraud with Common Sense

By now, you have undoubtedly heard of credit card fraud,... Read More

Good Credit is King, When Qualifying for Mortgage Programs

If you want to purchase a new home or refinance... Read More

Dont Trade Your Future for Todays DooDads

"Easy Low Down Monthly Payment," "Buy Now Pay Later," "You... Read More

How did a Thief get my Name? Don?t be a Victim of Identity Theft

How do these people get my name? If you have... Read More

How to Deal with Hire Purchase Debt

WHAT IS HIRE PURCHASE/CONDITIONAL SALE?Although people often talk about "buying... Read More

Understanding Credit Card Penalties

Because most of us have one or two credit cards... Read More

Getting Your Credit Report and Understanding Whats On It

If you intend to apply for a loan, you need... Read More

Do You Know The Top Five Credit Card Mistakes?

When you're dealing with credit cards, you're playing with fire.... Read More

How To Choose Your Credit Card Application

The articles and tips provided on this site are intended... Read More

Your Credit Rating and How To Check It

There is a lot of confusion surrounding UK credit ratings,... Read More

Tips for Credit Card Surfers

Moving money from credit card to credit card to take... Read More