What Are My Rights?

Who Has The Right To View My Credit Report?

Anyone with what would be considered a "legitimate business need" can gain access to your credit history, including:

1. Those considering granting you credit
2. Landlords
3. Insurance companies
4. Employers and potential employers (but only with your consent)
5. Companies with which you have a credit account for account monitoring purposes
6. Those considering your application for a government license or benefit if the agency is required to consider your financial status
7. A state or local child support enforcement agency
8. Any government agency (limited usually to your name, address, former addresses, current and former employers)
9. Debt collectors

As a general rule, only an employer or prospective employer needs your written consent to get a copy of your report. The state of Vermont is an exception, any user needs your oral or written consent. Most potential creditors ask for your permission to review your report. Your permission is not required when inquiries are made in connection with a pre-approved credit offer.

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How does an investigative consumer report differ from a credit report?

Some credit reporting agencies and investigation companies compile what is known as "investigative consumer reports." Such reports are defined under the FCRA as a "consumer report or portion thereof in which information on a consumer's character, general reputation, personal characteristics, or mode of living is obtained through personal interviews with neighbors, friends, or associates.". An investigative consumer report is normally used in limited circumstances including employment background checks, insurance, and rental housing decisions. An investigative consumer report does not contain information about your credit record that is obtained directly from a creditor or from you. For example, an investigative consumer report should not contain information about a late payment. This type of report cannot be used to grant credit. Because the information in these reports is so detailed and may be sensitive, the FCRA imposes stricter regulations on credit reporting agencies that compile investigative reports (federal FCRA, 15 USC 1681d sections 604, 606, and 614).

The only way you can know for certain if someone has wrongfully accessed your credit report is to order a copy of your credit report and check for that information along with any other discrepancies. If you suspect a company or individual that does not fall into one of the categories above has violated your rights by looking at your credit report, contact us or call 1-877-735-8600 and speak to one of our attorneys.

*Much of the content on this site was provided by the Federal Trade Commission

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Don’t Fall For Credit Repair Scams

Credit Repair: Be an Educated Consumer

You’ve seen or heard the advertisements on radio and TV, in newspapers and on the Internet. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims:

• "Credit problems? No problem!"
• "We can erase your bad credit-100% guaranteed."
• "Create a new credit identity-legally."
• "We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!"

Do yourself a favor and save some money, too. Don't believe these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.

The Scam

Everyday, companies nationwide appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they can't deliver. After you pay them hundreds or thousands of dollars in up-front fees, these companies do nothing to improve your credit report; many simply vanish with your money.

The Warning Signs

If you decide to respond to a credit repair offer, beware of companies that:

• Want you to pay for credit repair services before any services are provided.
• Do not tell you your legal rights and what you can do-yourself-for free.
• Recommend that you not contact a credit bureau directly.
• Suggest that you try to invent a "new" credit report by applying for an Employer Identification Number to use instead of your Social Security Number.
• Advise you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity or obtaining a new social security number. If you follow illegal advice and commit fraud, you may be subject to prosecution.

You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. It's a federal crime to make false statements on a loan or credit application, to misrepresent your Social Security Number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the promised services.

The Truth

No one can legally remove accurate and timely negative information from a credit report. But the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. According to the Fair Credit Reporting Act:

• You are entitled to a free copy of your credit report if you've been denied credit, insurance or employment within the last 60 days. If your application for credit, insurance, or employment is denied because of information supplied by a credit bureau, the company you applied to must provide you with that credit bureau's name, address, and telephone number.
• You can dispute mistakes or outdated items for free. Ask the credit reporting agency for a dispute form or submit your dispute in writing, along with any supporting documentation. Do not send them original documents.
• Clearly identify each item in your report that you dispute, explain why you dispute the information, and request a reinvestigation. If the new investigation reveals an error, you may ask that a corrected version of the report be sent to anyone who received your report within the past six months. Job applicants can have corrected reports sent to anyone who received a report for employment purposes during the past two years.

When the reinvestigation is complete, the credit bureau must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the credit bureau cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the credit bureau gives you a written notice that includes the name, address, and phone number of the provider.

You also should tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider then reports the item to any credit bureau, it must include a notice of your dispute. In addition, if you are correct-that is, if the information is inaccurate-the information provider may not use it again.

If the reinvestigation does not resolve your dispute, have the credit bureau include your version of the dispute in your file and in future reports. Remember, there is no charge for a reinvestigation.

Reporting Negative Information

Accurate negative information generally can be reported for seven years, but there are exceptions:

• Bankruptcy information can be reported for 10 years.
• Information reported because of an application for a job with a salary of more than $75,000 has no time limitation.
• Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limitation.
• Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.
• Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.

The Credit Repair Organizations Act

By law, credit repair organizations must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. They also must give you a written contract that spells out your rights and obligations. Read these documents before signing the contract. The law contains specific protections for you. For example, a credit repair company cannot:

• make false claims about their services
• charge you until they have completed the promised services
• perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, you can cancel the contract without paying any fees

Your contract must specify:

• the payment terms for services, including their total cost
• detailed description of the services to be performed
• how long it will take to achieve the results
• any guarantees they offer
• the company's name and business address

Have You Been Victimized?

Many states have laws strictly regulating credit repair companies. States may be helpful if you've lost money to credit repair scams.

If you've had a problem with a credit repair company, contact us at 1-800 FAIR CREdit or submit your information now.(link to contact us page)

Do-It-Yourself Check-Up

Even if you don't have a poor credit history, it's a good idea to conduct your own credit check-up, especially if you're planning a major purchase, such as a home or car. Checking in advance on the accuracy of the information in your credit report could speed the credit-granting process.

You're entitled to one free report a year if you can prove that (1) you're unemployed and plan to look for a job with 60 days, (2) you're on welfare, or (3) your report is inaccurate because of fraud. Otherwise, a credit bureau may charge you up to $9.00 for a copy of your report.

Credit bureaus usually are listed in the yellow pages of your telephone book under "credit reporting agencies." Three large national credit bureaus supply most credit reports: Equifax, Experian and Trans Union. You may want to contact each of them for a copy of your report.

Equifax
1-800-685-1111
www.equifax.com

Experian
1-888-EXPERIAN (397-3742)
www.experian.com

Trans Union
1-800-916-8800
www.transunion.com

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