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Your Rights Under The Fair Credit Reporting Act

Posted by : Premraj | Posted on : Wednesday, November 26, 2008

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You have rights as a consumer and have laws that protect you. The Fair Credit Reporting Act (F.C.R.A) is one of the keys to restoring your credit profile.

To learn more visit http://www.AttractiveCreditSecrets.com

The Fair Credit Reporting Act, a federal law, is the key to rebuilding your reports. This law was designed primarily to protect you, the consumer, from abuse by the credit bureaus. It’s estimated that over 90% of the reports maintained by the 4 major bureaus, Tran Union, Equifax, Experian and Innovis contain inaccurate information. Information that STOPS good people like yourself from getting the things in life you need and deserve. You may recall Experian was formerly known as TRW… aka The Report’s Wrong! Makes you wonder, doesn’t it?

The F.C.R.A. gives you the right to literally challenge the validity of any information the bureaus maintain in your credit file. For example, let’s say you have repossession on your credit. Under the F.C.R.A you have the legal right to challenge or dispute the accuracy of this information.

The F.C.R.A. states that any information contained in your report must be 100% accurate and verifiable or it must be *deleted*!

Think about that statement for a moment “100% accurate and verifiable.” When you consider the fact that each bureau contains 10′s of millions of reports that are constantly updated, you begin to see just how easy it is for mistakes to occur.

Add in the factor for human error and your report is certain to contain incorrect information. If the incorrect information is negative you can dispute it and get it removed. According to the F.C.R.A., if the bureaus cannot verify an item within 30 days, they must delete it from your file.

All you have to do is take advantage of this inherent flaw in the credit system and you’ll quickly begin to see dramatic improvements in your credit. These improvements will allow you to buy homes, new cars and get new credit.

I’m a fanatic when it comes to testing. Over the years I have diligently tested and refined all of our dispute letters for maximum effect.

What this means for you is that you can restore your credit in the least amount of time and then move forward with your goals.

This is a guest post by Juan at attractivecreditsecrets.blogspot.com.

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