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The Fair Credit Reporting Act (FCRA)

Below is a summary of the FCRA. The full Act can be obtained directly from the Federal Trade Commission's web site here.

Fair Credit Reporting Act (Summary)

Public Law 91-508

The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of "completeness and accuracy." If, after a reinvestigation by the credit bureau, the disputed information "is found to be inaccurate or can no longer be verified, the [credit bureau] shall promptly delete such information."

The credit bureaus are required to complete the investigation within a "reasonable period of time." This period has been set at thirty days.

The credit bureaus can ignore the consumer dispute if they have reason to believe that the dispute is "frivolous or irrelevant." The FTC commentary on the FCRA cites, as an example of a frivolous dispute, a dispute wherein the consumer challenges all negative items on his credit report without providing any allegations regarding specific items in the credit file. However, "A [credit bureau] must assume a consumer's dispute is bona fide, unless there is clear and convincing evidence to the contrary."

When a consumer challenges a negative credit listing on the basis of extenuating circumstances, such as health problems, divorce, job loss, etc., the credit bureaus are entitled to ignore that dispute.

When a consumer submits a dispute which is neither frivolous nor irrelevant by credit bureau standards, the credit bureau must "at a minimum... check with the original sources or other reliable sources of the disputed information and inform them of the nature of the consumer's dispute." In some cases of consumer dispute, "Reinvestigation and verification may require more than asking the original source of the disputed information the same question and receiving the same answer."

In other words, when a consumer files or re-files a valid dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor's own computer record. If, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing.

In theory and law, the process is deceptively simple, thus leading many people to think that they can easily handle this themselves "for the price of a few postage stamps." Most quickly discover that the credit bureaus have made it much more difficult than one would imagine. For help in this, we recommend using Lexington Law a professional credit report repair company.

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The Fair Credit Reporting Act gives you the right to have inaccurate, untimely, misleading, or unverified information deleted from your credit report!

While you have the legal right to work out your credit disputes with the credit agencies, you may want to consider utilizing a trained staff of lawyers, paralegals and legal assistants, all using state of the art technology. Raising your credit score can save you thousands of dollars over the course of your mortgage. You should start by obtaining your free credit report & scores today.

In the city, you can find a diverse selection of legal services and legal service professionals. Land-use attorneys and real estate lawyers can help you settle disputes over zoning and other property-related laws and regulations. Accident and injury attorneys can ensure that you get rightful compensation in the event of an accident-related injury. Tax attorneys and finance lawyers can help you with questions regarding your legal rights when it comes to bankruptcies, liens against personal property, debt consolidation, credit problems, and banking and securities law. Criminal attorneys can help in cases involving fraud, theft, and violence and ensure that your civil and legal rights are adhered to. Attorneys skilled in family law can help with prenuptial agreements, legal separations, visitation privileges, alimony, child custody, and child support issues. There are also attorneys that specialize in DUI, DWI, and other traffic law offences that might be able to help with violations you received while operating a motor vehicle. Proper legal representation is not only a wise choice; it’s also your right as a U.S. citizen. So whatever your legal need, you are likely to find whatever assistance you need right here in the city.

Arizona is home to the Grand Canyon, one of the seven wonders of the world, and is situated in the beautiful Sonoran Desert. Arizona provides a rich history and culture, breath-taking scenery, arts, entertainment, sports, and a climate that is varied enough to accommodate any type of outdoor recreation, no matter what the season. With over 300 days of sunshine a year, it’s no wonder people travel here from all over the world to enjoy the perfect weather. Whether it’s hiking the Grand Canyon, rafting down the Colorado River, skiing the slopes of the White Mountains, or just relaxing by the pool, there is something to do here all year long. And with venues such as Phoenix Sky Harbor International Airport, Tucson International Airport, and Scottsdale Municipal Airport, experiencing all that Arizona has to offer is quick and easy. The rich, Native American culture, and history of famous Arizonans such as renowned architect, Frank Lloyd Wright, makes for an entertaining, yet educational experience. Southern Arizona offers a rich history of the “Old West,” with its western towns, guest ranches, and stunning sights such as Karchner Caverns. Sports fans will delight in watching a live game of the 2001 World Champion Arizona Diamondbacks, or the NBA Phoenix Suns. Central Arizona offers a wide variety of entertainment options such as five-star resorts and spas, casual indoor and outdoor shopping malls, up-scale shops such as the Arizona Biltmore, quaint restaurants, golf courses, art galleries, museums, antique stores and more. So whether you are looking to surround yourself in a little western history, or just want to relax and have some fun, Arizona is the place to go.

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