If you did not realize the Fair Credit Reporting Act was enacted in'70 to defend consumers against inaccuracies and inconsistencies on reported credit, it was. This law allows consumers to dispute inaccurate and untruthful listings on their credit report such as charge-offs, late payments, repossession and more. It also allows consumers to receive their own credit report absolutely free of charge each year.
This is an imperative law when it comes to credit repair and most people who are familiar with credit know about this law. However there are two more laws involving to credit that influence you as a consumer and a helpful knowledge of all three of these laws is chief to your credit repair efforts.
The FCRA or Fair Credit Reporting Act is the basis for all credit repairs as it gives the consumer the right to dispute unfair credit. However, the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act is also essential to a good repair plan.
The Fair Credit Billing Act or as it is otherwise known by the acronym FCBA requires creditors to bill correctly and fully. It prohibits illegal charges, or charges that have the incorrect date or incorrect amount, any charges that are for commodities or services that were not accepted by you or not delivered as agreed upon. A company must post payments and other credits and they must send billing notices to your current address if any changes of address were received 20 days prior to the billing cycle. The FCBA also allows a consumer to request written proof of purchase or requests for clarification from the company.
The Fair Debt Collections Practices Act was enacted to protect ordinary consumers from unreasonable and unfair collection agency tactics. Many collection agencies engaged in despicable practices in the past in order to collect a debt.
The FDCPA specifies reasonable collection practices. For instance, a collection agency cannot make contact with any third party who does not owe the debt. They cannot give out bogus coercion of reporting it on your credit or referring your account to an attorney in order to coerce you to pay. They are only allowed to call within realistic hours, which are normally between 8:00 am and 9:00 pm unless they have your explicit authorization to call at another times. They are not allowed to call you at troublesome or abnormal times or places if you let them know what is undesirable.
The FDCPA is very widespread and it goes on about what is restricted and what is tolerable behavior from the collection agencies. Just be aware that they can call you within the hours and restrictions unless you specifically and preferably in writing appeal that they stop. If you have questions about the complete coverage of this law you can do an Internet search and read it in its entirety.
All 3 of these laws are critical to you as a credit consumer. Each of them can be useful if you need to complete any repairs on your credit so it is astute to be responsive of them and search out the fine points if it becomes required. - 29971
This is an imperative law when it comes to credit repair and most people who are familiar with credit know about this law. However there are two more laws involving to credit that influence you as a consumer and a helpful knowledge of all three of these laws is chief to your credit repair efforts.
The FCRA or Fair Credit Reporting Act is the basis for all credit repairs as it gives the consumer the right to dispute unfair credit. However, the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act is also essential to a good repair plan.
The Fair Credit Billing Act or as it is otherwise known by the acronym FCBA requires creditors to bill correctly and fully. It prohibits illegal charges, or charges that have the incorrect date or incorrect amount, any charges that are for commodities or services that were not accepted by you or not delivered as agreed upon. A company must post payments and other credits and they must send billing notices to your current address if any changes of address were received 20 days prior to the billing cycle. The FCBA also allows a consumer to request written proof of purchase or requests for clarification from the company.
The Fair Debt Collections Practices Act was enacted to protect ordinary consumers from unreasonable and unfair collection agency tactics. Many collection agencies engaged in despicable practices in the past in order to collect a debt.
The FDCPA specifies reasonable collection practices. For instance, a collection agency cannot make contact with any third party who does not owe the debt. They cannot give out bogus coercion of reporting it on your credit or referring your account to an attorney in order to coerce you to pay. They are only allowed to call within realistic hours, which are normally between 8:00 am and 9:00 pm unless they have your explicit authorization to call at another times. They are not allowed to call you at troublesome or abnormal times or places if you let them know what is undesirable.
The FDCPA is very widespread and it goes on about what is restricted and what is tolerable behavior from the collection agencies. Just be aware that they can call you within the hours and restrictions unless you specifically and preferably in writing appeal that they stop. If you have questions about the complete coverage of this law you can do an Internet search and read it in its entirety.
All 3 of these laws are critical to you as a credit consumer. Each of them can be useful if you need to complete any repairs on your credit so it is astute to be responsive of them and search out the fine points if it becomes required. - 29971
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Whether you like it or not repairing your credit may perhaps become necessary at some point. If you need further information about quick credit repair visit http://724Credit.com and don't forget to sign up for a free credit repair course.
