Your Credit Report And Rights As A Consumer
Under the Federal Fair Credit Reporting Act, you have certain rights and
you need to know what they are in order to clean up your credit record.
Good credit is a necessity in today's world where it's required for everything
from buying a car to renting an apartment to buying a house or even getting
a credit card.
Here is a summary of your rights with regard to your credit report.
- May obtain a credit report from the credit bureau for a reasonable
fee ($8 to $15).
- May obtain a credit report from the credit bureau at no charge within
30 days of being rejected for credit. You must send a copy of the rejection
letter to the credit bureau.
- May be represented by anyone of your choice at the credit bureau.
- May dispute any information on the credit report that you feel is
listed incorrectly. The credit bureau must re-investigate the information
and within a reasonable time, verify the information. A reasonable
time has been construed to be 20 working days by some credit bureaus.
- May have derogatory information such as late payments and judgments
taken off the credit report within 7 years. Bankruptcies will come
off in 10 years.
- May place a 100-word consumer statement in your file to tell your
side of any derogatory information.
- May have the credit bureau notify those you name (at no cost to you)
who have previously received incorrect or incomplete information on
you and provide them with the corrected credit report.
- May have your credit report withheld from anyone, who under the law,
does not have a legitimate need for the report.
- May sue the credit bureau if it willfully or negligently violates
the law.
An expanded report on this subject and other important information you
need to solve past credit issues and repair your good credit is available
here:
Get
the Credit Repair Tool Kit >> 
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