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Fair Credit Reporting Act

Your credit score is important. It can affect you in many ways. Most importantly, you need good credit to get a loan to buy a house or car. Even if you can get credit, a poor or false credit report can cost you thousands of dollars in increased interest rates. Sometimes, bad credit will lead to increased costs for insurance or even denial of insurance. Bad credit can even be used against you in your search for employment. So it is vitally important for you to keep up to date with your credit report.

The three most important credit reporting agencies are:

  • Experian
  • Trans Union
  • Equifax

There are others as well, but if you check your reports with them, you have a fighting chance of keeping your credit report accurate.

You have the right to obtain a free credit report at least once a year. You can get that report by visiting this link:

Don’t use any of the services which claim to offer you free credit reports. They are not free and you will end up paying for a costly and needless subscription service.

Here are your important rights under the Fair Credit Reporting Act:

  • Anyone who uses information in your credit reporting file against you must tell you so. That person must give you the name, address and phone number of the agency that provided the adverse information
  • You have the right to know what’s in your file. You’ll have to identify yourself with your social security number and other personal information to the reporting agency’s satisfaction.
  • You can get a free credit report in many cases:
    • Adverse action has been taken against you
    • You have suffered identity theft
    • You are a victim of fraud
    • You are on public assistance
    • You are unemployed but expect to apply for employment within 60 days
  • You have the right to ask for your credit score but you may have to pay for this.
  • You have the right to dispute inaccurate or incomplete information
  • Credit reporting agencies must correct or delete incorrect, incomplete or unverifiable information within 30 days
  • Credit reporting agencies can’t report outdated negative information
    • Your bankruptcy can reported for no more than 10 years
    • Most other information can’t be reported for more than 7 years.
  • You can sue those who violate the FCRA and recover damages

Lakelaw takes your credit seriously. Get your credit report. It’s free. Let us take a look at it with you. Let us see whether there are any inaccurate, outdated, or otherwise improper reports. We can help you fix this. You pay nothing until we do. And if need be, we will sue the creditors and credit reporting agencies who have harmed you under the Fair Credit Reporting Act. You pay nothing until we win.