Consumer Credit File Rights under State and Federal Law
You have rights to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any credit repair company on credit repair organization has the rights to have accurate, current and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your credit report only if it is over seven years old and stop bankruptcy information can be reported for 10 years.
You have rights to a dinner copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You’re entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you’re a splinter of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.
You have rights to sue a credit repair organization that violates the credit repair organizations act. This law prohibits deceptive practices by credit repair organizations.
You have the right to cancel the contract with any credit repair organization for any reason within three business days from the date you signed it.
Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.
You may, on your own, but if I credit bureau in writing that he disputes the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not charge any fee for the service. Any pertinent information and copies of documents you have concerning an error should be given to the credit bureau.
If the credit bureaus reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of his statement about the speed of information with any report it issues about you.
The Federal Trade Commission regulates credit bureaus and credit repair organizations. For more information contact:
The Public Reference Branch
Federal Trade Commission
Washington, DC 20580