The Fair Credit Reporting Act is a Federal law passed to regulate the use of your personal credit information as it relates to the Credit Bureaus and creditors. You have several rights under this law that allow us to be aggressive in pursuing the Credit Bureaus on your behalf.
Click here to download a PDF directly from the Federal Trade Commission’s (FTC) website.
Fair and Accurate Credit Transactions Act (FACTA)
The Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA, Pub.L. 108-159) is a United States federal law, passed by the United States Congress on November 22, 2003, and signed by President George W. Bush on December 4, 2003, as an amendment to the Fair Credit Reporting Act. The act allows consumers to request and obtain a free credit report once every twelve months from each of the three nationwide consumer credit reporting companies (Equifax, Experian and TransUnion). In cooperation with the Federal Trade Commission, the three major credit reporting agencies set up the website, annualcreditreport.com, to provide free access to annual credit reports.
The act also contains provisions to help reduce identity theft, such as the ability for individuals to place alerts on their credit histories if identity theft is suspected, or if deploying overseas in the military, thereby making fraudulent applications for credit more difficult. Further, it requires secure disposal of consumer information.
Fair Credit Billing Act
The Fair Credit Billing Act is a federal law (amending the Truth in Lending Act) that protects consumers from unfair billing practices and to provide a way or remedy to address billing errors with credit or charge card accounts.
The Equal Credit Opportunity Act, which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance. Creditors may ask you for most of this information in certain situations, but they may not use it when deciding whether to give you credit or when setting the terms of your credit. Not everyone who applies for credit gets it or gets the same terms: Factors like income, expenses, debts, and credit history are among the considerations lenders use to determine your creditworthiness.
The Credit Repair Organizations Act as it is, copy-and-paste, from the Federal Trade Commission’s website is below. We operate within this law which governs how credit repair organizations can operate. Many of our “competitors” would not do this, but we are not afraid by teaching you EVERYTHING you need to know so that you can make an informed decision.
The Fair Debt Collection Practices Act is a statute added in 1978 as Title VIII of the Consumer Credit Protection Act.
“Its purposes are to eliminate abusive practices in the collection of consumer debts, to promote fair debt collection and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information’s accuracy. The Act creates guidelines under which debt collectors may conduct business, defines rights of consumers involved with debt collectors, and prescribes penalties and remedies for violations of the Act. It is sometimes used in conjunction with the Fair Credit Reporting Act.” This is from an article found on Wikipedia titled: ”Fair Debt Collection Practices Act“.