When it comes to credit repair, a consumer will usually take into account the FCRA or the Fair Credit Reporting Act. This act is the basis for all credit repair since it gives consumers the right to dispute imprecise or untruthful listings on their reported credit. It also allows a consumer to receive one free credit report every year from each of the three main credit bureaus.
Nearly all people who know about credit and credit practices and repair are familiar with this law. However, there are two added laws that affect you as a consumer and can be useful to you for credit repair and it is judicious to learn about these laws also.
Also, the Fair Credit Reporting Act is the underpinning of all credit repair but the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act are also both vitally important for an useful credit repair plan.
The FCBA or the Fair Credit Billing Act requires creditors to invoice entirely and correctly. It prohibits charges that have the erroneous date or wrong amount, unauthorized charges, charges for goods or services that you did not recognize or were not delivered as decided upon. It prohibits a company from failing to post payments or other credit and failing to send billing notices to your up to date address, provided that any changes of address were received by them 20 days previous to the billing cycle. This law also allows a consumer to request written proof of purchase or requests for explanation.
The FDCPA was designed to protect consumers from unwarranted and unwarranted collection agencies and procedure. It was enacted to safeguard ordinary consumers from some of the appalling practices that collection agencies commonly engaged in the past.
The FDCPA specifies reasonable collection practices. For instance, a collection agency cannot speak to any third party who does not owe the debt. They cannot issue phony coercion of reporting it on your credit or referring your account to an attorney in order to scare you to pay. They are only allowed to call within realistic hours, which are normally between 8:00 am and 9:00 pm unless they have your specific okay to call at another times. They are not allowed to call you at inopportune or unusual times or places if you let them know what is offensive.
The FDCPA is very widespread and it goes on about what is limited and what is acceptable actions from the collection agencies. Just be attentive that they can call you within the hours and restrictions unless you explicitly and preferably in writing request that they stop. If you have questions about the entire boundary of this law you can do an Internet search and read it in its entirety.
Here are the 3 laws that are so critical to you as a credit consumer. You can use any of them as a valuable measure when you need to finish credit repair so it is judicious to be conscious of them and know where to find extra information if required. - 29866
Nearly all people who know about credit and credit practices and repair are familiar with this law. However, there are two added laws that affect you as a consumer and can be useful to you for credit repair and it is judicious to learn about these laws also.
Also, the Fair Credit Reporting Act is the underpinning of all credit repair but the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act are also both vitally important for an useful credit repair plan.
The FCBA or the Fair Credit Billing Act requires creditors to invoice entirely and correctly. It prohibits charges that have the erroneous date or wrong amount, unauthorized charges, charges for goods or services that you did not recognize or were not delivered as decided upon. It prohibits a company from failing to post payments or other credit and failing to send billing notices to your up to date address, provided that any changes of address were received by them 20 days previous to the billing cycle. This law also allows a consumer to request written proof of purchase or requests for explanation.
The FDCPA was designed to protect consumers from unwarranted and unwarranted collection agencies and procedure. It was enacted to safeguard ordinary consumers from some of the appalling practices that collection agencies commonly engaged in the past.
The FDCPA specifies reasonable collection practices. For instance, a collection agency cannot speak to any third party who does not owe the debt. They cannot issue phony coercion of reporting it on your credit or referring your account to an attorney in order to scare you to pay. They are only allowed to call within realistic hours, which are normally between 8:00 am and 9:00 pm unless they have your specific okay to call at another times. They are not allowed to call you at inopportune or unusual times or places if you let them know what is offensive.
The FDCPA is very widespread and it goes on about what is limited and what is acceptable actions from the collection agencies. Just be attentive that they can call you within the hours and restrictions unless you explicitly and preferably in writing request that they stop. If you have questions about the entire boundary of this law you can do an Internet search and read it in its entirety.
Here are the 3 laws that are so critical to you as a credit consumer. You can use any of them as a valuable measure when you need to finish credit repair so it is judicious to be conscious of them and know where to find extra information if required. - 29866
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Whether you like it or not repairing your credit may perhaps become necessary at some point. If you need further information about free credit repair visit http://724Credit.com and don't forget to sign up for a free credit repair course.
