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Ok, so far we know what the average American citizen knows; credit bureaus determine our credit score by using their beacon scoring point system, but the "eye opening" information your about to receive won't only surprise you, it'll Startle You.
(Plan on adding this page to your favorites).
The FCRA (Fair Credit Reporting Act) lets you sue a credit bureau
for negligent or willful noncompliance with the law
within two years after the bureau’s harmful behavior
first occurred. You can sue for actual damages, such
as court costs, attorneys’ fees, lost wages and, if
applicable, intentional infliction of emotional distress.
In the case of truly outrageous behavior, you
can recover punitive damages—damages meant to
punish for malicious or willful conduct.
In many states, you should also complain to the
state agency that regulates credit bureaus’ illegal or
unethical conduct. If you were seriously harmed by the credit bureau
—for example, it continued to give out false information
after you requested corrections— you may want to sue. After all, the false information that the credit bureaus failed to edit could result in higher interest rates which could then lead to higher payments. Do you see the chain reaction of negative effects that could potentially damage ones financial and personal future. All the while the credit bureau could've made a few necassary revisions and all this could have been avoided.
All states have laws governing credit reporting agencies. Only some of those laws, however, impose more limitations on creditors and credit bureaus and provide more protections to consumers
than does the Fair Credit Reporting Act.
Only you decide when its time to fight back, wether you choose to fight alone or fight with profession, choose to fight before your financial credibility diminishes. For more information or to request professional help, contact Community Debt Service toll free or online.
(Fair Credit Reporting Act)
The FCRA was passed to address consumers’ concerns
about the proliferation of credit bureaus and
the information in credit files. The law is designed
to bar inaccurate or obsolete information from
credit files, and it requires that credit bureaus adopt
reasonable procedures for gathering, maintaining and
disseminating information.
To learn how Community Debt Service can get you out of debt in a fraction of the time at a fraction of the cost, don't wait another second pick up the telephone and call us, or inquire online and we'll call you!
We value your interest in our service and look forward to assisting you.
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