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Fair Credit Reporting Act (FCRA)

The Fair Credit Reporting Act (FCRA) is a federal law that allows anyone access to his individual credit history. It can achieve the following:

• Allows a consumer to see what information credit reporting agencies may be giving to those who have requested it
• Allows an individual to contact a credit-reporting agency and inform it of any incorrect or outdated information
• In cases of identity theft, the Act allows a person to see if someone other than the individual, using stolen identity information, has opened any accounts
• The access to one’s credit history gives an individual the right to dispute any entry that he or she may feel is causing a company or organization to consider them as having less-than-perfect credit

The Fair Credit Reporting Act, then, allows one to keep a close check on his or her own credit history, ensuring that the information disclosed is as complete and accurate as possible. If you feel that the information on your credit history is wrong, and you are having difficulties in getting the situation corrected, please contact us today.