4 Laws Making Fixing Your Credit Possible

Fortunately for you, half a century ago Congress recognized that the credit reporting system needed legislation. The practices of the credit bureaus and the agencies using the reports they provided were deplorable. American consumers were being abused by a system they had no way of influencing and no way of keeping in check.

To counter these abuses, Congress created the Fair Credit Reporting Act which with its subsequent revisions has become the cornerstone of your consumer credit rights. It is because of the Fair Credit Reporting Act that you have the right to see what information is recorded on your credit reports and to dispute any questionable negative items they contain.

Along with the FCRA, there are other consumer protection laws that give you certain rights when it comes to 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 reports.

Fair Credit Reporting Act
The Fair Credit Reporting Act is what got credit repair started. Because of this act, you have the right to see your credit reports and to dispute questionable credit listings directly with the credit reporting agencies.

Fair Debt Collection Practices Act
Along with protecting your against abusive behavior from collectors such as contacting you in the middle of the night, screaming at you, cursing, misrepresenting their identity, or threatening physical violence while trying to collect a debt, the Fair Debt Collections Practices Act (FDCPA) 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 gives you the right to dispute inaccurate negative credit directly with your original creditors in order to modify the way 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 considering repairing their credit . 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 becoming a victim of a credit repair scam.

By: Stuart Hunter

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You have certain rights regarding your credit including the right to legally fix your credit by disputing the questionable negative items in your credit reports. You can work to repair your credit on your own or with the help of a reputable credit repair firm.