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Fair Credit Reporting

The Fair Credit Reporting Act (FCRA) and the recent update to this law called the Fair and Accurate Credit Transactions Act (FACTA) protect consumers against inaccurate information being reported by credit bureaus and the privacy of that information. What does this mean to you?
Your credit report gets viewed by other people besides credit grantors. Potential employers and insurance companies can deny you employment, auto and home owner's insurance based on your credit report. Understand your rights protected by The Fair Credit Reporting Act.
This summary of the Fair Credit Reporting Act will explain what you can legally do if you want to repair your own credit report. No matter what you hear, you can dispute credit information on your credit report if you understand the legal rights you have under this law.
Fact: Over 150 million Americans have credit report with the three major credit reporting agencies. Approximately 50 million of these credit reports contain errors, many of which are inaccurate. Do you know what’s on your credit report?
Under the Fair Credit Reporting Act, you are entitled to ask for, and receive, a free copy of your government credit report once a year. The FCRA serves to promote accurate information, held in privacy, by consumer reporting companies
You should get a free credit report from the three reporting agencies each year. It is your right out of the Fair Debit Collection And Reporting Act to get a free report annually from the three main reporting agencies. These are TransUnion, Equifax and
Make sure you know what your credit report will be before you go house shopping. If there are any mistakes you can get them cleaned up ahead of time.
Thanks to the FACT(Fair and Accurate Credit Transactions) Act, all U.S. residents will be allowed one free credit report annually from each of the three major credit reporting agencies - Equifax, TransUnion, and Experian. This legislation makes it easy for you to keep an eye on your credit profile throughout the year easy as 1-2-3.
Many people may still not be aware of an amendment to the Fair Credit Reporting Act (FCRA) that Congress passed last year. This amendment allows U.S. citizens to receive a copy of their credit report, for free, once per year. The plan is being rolled out slowly in order to avoid swamping the system, but people living in the West and Midwest can receive their credit reports now, and everyone will be able to obtain a free credit report by September of this year. Those seeking a copy of their credit report should watch out, however, as not everyone who promises a “free” credit report is actually delivering one.
Learn why negative marks stay on your credit report for seven years. Learn how to remove negative marks before seven years ticks away and some other helpful information about credit reporting.
What I find missing most often in wealth strategies is reporting. I find it amazing how so many people think they don't need reporting. Some think they will be so successful that they don't need a report to tell them that. Others think that reporting is just for their accountant to do their taxes. And, others think they aren't big enough to need reporting.


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