In today’s world, your credit rating is everything. A good credit score creates employment opportunities, helps you start a business, lowers the cost of your debt, and guarantees access to credit during difficult times. Bad credit scores can destroy a person’s livelihood, create discord in their relationships, and prevent you from getting a job. Because of a credit score’s importance, it is vital that the information in your credit report is accurate, complete and only disclosed to those with a legitimate need for the information.
Congress understood the importance of ensuring the accuracy and privacy of consumer credit information when it passed the Fair Credit Reporting Act. That law regulates the use and dissemination of credit reports by credit reporting agencies, furnishers, and users. It also provides mechanisms for correcting errors in credit reports.
If a bank, credit card company, or credit bureau fails to comply with the law, it can be liable to a consumer for damages. If you discover information in your credit report that is not accurate, call us to discuss how we can help fix it.