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Repair Your Credit: Credit Reporting Rights

If you’re ready to repair your credit, a good place to start is to understand your credit reporting rights. Your credit score, which is based upon the data contained in your credit report, can have a dramatic impact on your everyday life. It can determine whether or not you are able to obtain a mortgage, a credit card, a job, or insurance. Even if your credit report doesn’t prevent you from getting a loan or a credit card, your credit score can mean the difference between paying a low interest rate or a high interest rate. In other words, if your credit score takes a nosedive, you’ll be paying through the nose.

The federal Fair Credit Reporting Act (FCRA) outlines your credit reporting rights, and is an important component of repairing your credit. The FCRA was designed to protect you from harm by ensuring that the information contained in your credit report is accurate, that you’re kept in the loop about the information contained in your credit report, and that your financial information remains private. It places certain requirements on the big three consumer reporting agencies (Experian, Equifax, TransUnion), as well as consumer reporting agencies you’ve probably never heard about. The FCRA also has credit reporting rights provisions that govern what information suppliers (like your creditors and debt collection agencies) can and cannot do.

If you’ve been hounded by debt collectors and are trying to repair your credit, there’s a good chance that the debt collection agency has been messing around with your credit report. All too often, debt collectors report inaccurate information about accounts, do not investigate disputed information, or do not report when an overdue debt has been paid. When this happens, the FCRA and other federal and state credit reporting rights laws give you the power to obtain justice.

Find out more about your credit reporting rights and how they impact attempts to repair your credit:

What’s in Your Credit Report?
Getting Your Credit Reports
Checking Your Credit Reports
Debt Collectors & Credit Reports
Credit Report Notification Requirements
Disputing an Item on Your Credit Report
When You’re Hurt by Credit Report Errors
Credit Fraud, Identity Theft & Credit Reports
Legal Use of Your Credit Report
Misuse of Your Credit Report
Credit Reports and Employment

We hope that you find this information useful, and urge you to contact us at 203-529-5100 if you’re trying to repair your credit or if you believe that your credit reporting rights have been violated.