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The Four Laws of Legal Credit Repair
- By Stuart Hunter
- Published 01/20/2009
- Credit Score
- Unrated
Stuart Hunter
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
Fortunately for today's consumer, half a century ago Congress recognized that the credit reporting system needed revision. The practices of the credit reporting agencies and the agencies using the credit reports they provided were deplorable. American consumers were being taken advantage of by a system they had no way of influencing and no way of keeping in check.
To combat these abuses, Congress passed the Fair Credit Reporting Act (FCRA) which with its subsequent revisions has become the keystone for constructing your credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what is being reported on your credit files and to work to correct any inaccurate negative items they contain.
Along with the Fair Credit Reporting Act, there are a few other consumer protection laws that give consumers certain rights when you are working with the creditors and collections agencies who provide information to the credit reporting agencies. By being aware of and making use of their rights under each of these statutes, consumers have been able to successfully fix their credit score.
Fair Credit Reporting Act
The Fair Credit Reporting Act is what got
credit repair started. Because of this act, you have the right to order copies of your credit file and to dispute bad credit listings directly with the credit reporting agencies.
Fair Debt Collection Practices Act
Along with protecting your against inappropriate actions from debt collectors such as calling you at unusual hours, screaming at you, using vulgar language, lying about their identity, or using 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 directly with your original creditors in an effort to get them to modify how they are reporting your account to the credit bureaus.
Credit Repair Organizations Act
With all the legislation surrounding credit repair, it can be overwhelming for a newcomer working to fix their credit rating. Fortunately, there are reputable credit repair firms who help consumers work towards a fair and accurate credit score. These credit repair organizations are regulated by the Credit Repair Organizations Act which helps prevent consumers from being sucked in by a credit repair scam.
To combat these abuses, Congress passed the Fair Credit Reporting Act (FCRA) which with its subsequent revisions has become the keystone for constructing your credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what is being reported on your credit files and to work to correct any inaccurate negative items they contain.
Along with the Fair Credit Reporting Act, there are a few other consumer protection laws that give consumers certain rights when you are working with the creditors and collections agencies who provide information to the credit reporting agencies. By being aware of and making use of their rights under each of these statutes, consumers have been able to successfully fix their credit score.
Fair Credit Reporting Act
The Fair Credit Reporting Act is what got
Fair Debt Collection Practices Act
Along with protecting your against inappropriate actions from debt collectors such as calling you at unusual hours, screaming at you, using vulgar language, lying about their identity, or using 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 directly with your original creditors in an effort to get them to modify how they are reporting your account to the credit bureaus.
Credit Repair Organizations Act
With all the legislation surrounding credit repair, it can be overwhelming for a newcomer working to fix their credit rating. Fortunately, there are reputable credit repair firms who help consumers work towards a fair and accurate credit score. These credit repair organizations are regulated by the Credit Repair Organizations Act which helps prevent consumers from being sucked in by a credit repair scam.
