Consumer Rights
...... will become a permanent part of your credit record explaining your side of any dispute that cannot be resolved with a credit bureau. (You may ask that the credit reporting agency share your written statement with certain businesses. The agency must do so without charge if you make your request within 30 days of being denied credit.)
The right to have negative credit-related information deleted from your credit record after seven years.
Credit LettersLetter No. 1 Date Your Name Your Address Your Social Security ..... The right to have a bankruptcy deleted after ten years.
The right to sue a credit bureau for damages if it willfully and negligently violates the law. (if you are successful in your lawsuit, you may collect attorney fees and court costs as well.)
The right to be notified by a company that it has requested an investigative report on you.
Women And Credit IITo avoid credit problems, it is imperative that all women educate themselves about credit and money management and establish and maintain their own .....
The right to request from a company pursuing an investigative report more information about the nature and the scope of the investigation.
The right to know the nature and the substance of the investigative report but not the sources.
The FCRA does not require that:
A credit bureau provide you with a copy of your credit file. (Some bureaus will do so, however, if you request it.)
A business or individual do business with you.
Any federal agency intervene on your behalf.
A credit bureau add information on accounts not already in your file. (Some credit bureaus will do this for a fee .)
Also, the FCRA does not apply to applications for commercial credit or business insurance.
NOTE: Credit bureaus may report bankruptcies for longer than ten years and other negative credit-related information for longer than seven years in the case of loans for more than $50,000, insurance policies greater than $50,000 and jobs paying more than $20,000/year. Also, information concerning a lawsuit or judgment against a consumer can be reported for seven years or until the statute of limitations runs out, whichever is longer.
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