Fair Credit Reporting Act (FCRA)
What is the Fair Credit Reporting Act
(FCRA)? The Fair Credit Reporting Act (FCRA) details how creditors can collect
information and access debtor’s credit reports. It ensures fairness, accuracy,
and privacy of the debtor’s information detailed in credit reports. The
complete act can be found in the United States Code Title 15, Section 1681.
Fair Credit Reporting Act
Some permissible purposes for obtaining
a consumer’s credit report include 1) The review of a borrower’s credit profile
for a credit application; 2) The release of a credit report for a background
check and; 3) The request of a credit report by the consumer. An order from the
court, business dealings and child support considerations are other reasons one
can access a credit report.
The FCRA also details what information should be included on a credit report and the length of time they can remain on a credit report. Most negative information stays on a credit report for seven years. Bankruptcy can remain on a credit report for ten years.
Debtors are permitted access to their file and a free credit report once a year.
The FCRA also details what information should be included on a credit report and the length of time they can remain on a credit report. Most negative information stays on a credit report for seven years. Bankruptcy can remain on a credit report for ten years.
Debtors are permitted access to their file and a free credit report once a year.
Looking for a
personal injury lawyer in Orange Park, Florida? Contact Law Office of Tony
Turner. We have a team of experienced lawyers to help you settle your personal
injury claim and get back to living your life. https://tonyturnerlaw.com
Comments
Post a Comment