Your credit affects your ability to buy a home, obtain employment, and even get insurance. And you have a right to ensure that the credit reporting agencies report accurate information about you and protect your privacy. The federal Fair Credit Reporting Act (FCRA) was enacted to protect those rights.
Credit reporting agencies are regulated under the FCRA and have a responsibility to insure that information reported about you is accurate and is only disclosed to you or creditors, insurers and employers to determine:
• Eligibility for credit or insurance
• Eligibility for employment actions (hiring, firing, promotions, etc.)
• Eligibility for rental leases, mortgages, refinancing, and equity loans
• Ability to pay child support
• Eligibility for government licenses and public benefits
• Credit risk associated with a current credit obligation
If information contained in your file was used against you by law you must be informed. When a person or a company uses credit report information to deny you credit, insurance, employment or housing that person or business must inform you and give you the name and contact information of the agency that provided the information. And under the FCRA you have the right to:
• Full disclosure of your credit file
• Request your credit score
• Dispute incomplete and inaccurate information
• Have incorrect, incomplete, unverified or outdated information corrected or purged from your file
• Opt-out from unsolicited offers of credit and insurance
• A free credit report every 12 months or when denied credit and other circumstances .
Protecting your rights and privacy
If a credit or other reporting agency has violated the FCRA and it has resulted in damaging your reputation or credit or other rights, you should consult an experienced Texas bankruptcy attorney about the legal remedies available to you. Contact us online or call 972-772-3083 to discuss your credit reporting issue today.
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