The Fair Credit Reporting Act (FCRA) regulates what personal credit information can be collected, stored and distributed to an individual.

When you apply for a credit card, car loan or mortgage, the lender will review your credit report and score to make a determination about your account.

If the information included in your report is incorrect, then you could be declined – through no fault of your own.

The credit reporting agencies, creditors, and debt collectors are required to furnish correct information about your accounts, and to remove items that are not correct or verifiable.

Credit reports contain information that can impact you positively or negatively; the positives should be left alone.

  • Negative points can include
  • Late or missed payments
  • Judgments
  • Defaulted accounts and,
  • Accounts placed by debt collectors

Under the FCRA, you have the right to ask for validation of any debt, and to dispute items that are not correct.

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