Your Credit Report Rights as a Consumer
Before you challenge your credit report, you should be fully aware of your credit report rights as a consumer and the responsibilities of credit reporting agencies. Because the credit agencies deal with millions of consumers throughout the world, they make many mistakes and may even have a backlog of old negative items to remove from reports. If you have an inaccurate credit report, allow the team at Global Credit Repair Services LLC to help remove items and repair your credit score.
Your Credit Report Rights
1 – You have the right to a free credit report.
You can obtain a free credit report once a year, or any time you have been denied credit. Under the federal law titled The Fair Credit Reporting Act (FCRA), you have the right to a free credit report once a year. You can order a free credit report through the website listed in The Fair Credit Reporting Act. In addition, any time you have been denied credit you can order a credit report for free. Under Federal Law you are not required to pay for a credit report under the following circumstances: you are unemployed and intend to apply for employment in the next 60 days, you are a recipient of public welfare assistance, or you have reason to believe that there is inaccurate information in your credit report due to fraud.
2 – As a consumer under Federal Law you have the right to challenge any inaccurate information on your credit report.
Under federal law you can challenge any items on your credit report on your own without the help of any credit counseling service or repair company. You do not have to pay to challenge inaccurate information on your credit reports. This can be done for free by any consumer. However, it is easier and less stressful to allow our team to handle this.
3 – You can cancel a credit repair program at any time.
According to federal law you can cancel any credit repair program at any time you choose. You are not obligated to be in a program for any length of time. A credit repair contract is designed so you know your rights as a consumer and what to expect in the program.
4 – Under the Credit Repair Organization Act (CROA) you are not allowed to be charged up-front fees by a credit repair agency.
This means that when you pay a credit repair company, the work is supposed to be performed before payment is made for services rendered. Here at Global Credit Repair Services LLC, we charge a credit processing fee of $15.00 and then the initial first work fee is charged a few days after the work is performed.
5 – Credit bureaus are required to report accurate information.
Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur, which is why our team helps remove these mistakes in order to repair your credit.
6 – The credit repair industry is governed by the Federal Government.
The Federal Trade Commission regulates credit bureaus and credit repair organizations.
7 – You have the right to add a statement to your credit file with each credit bureau if the challenge is not resolved.
If the credit bureau’s investigation does not resolve the challenge to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of your statement about disputed information with any report it issues about you. If you are enrolled in our credit repair program, we handle this portion of the repair process for you.
8 – A credit repair company is bound by law to offer a contract.
A contract should include: the right to cancel within three business days of signing the contract, a full and detailed description of the services to be performed, any guarantees of performance, an estimate of how long the program will take, the credit repair company contact information including a physical address, the terms and conditions of payment, and a right to cancel statement.
9 – You have a right under Federal Law to hire a credit repair company.
If you feel there are inaccuracies or any information that does not belong on your credit report for any reason, you are entitled under federal law to hire a credit repair company. Any intelligent consumer is going to do due diligence when buying a car, including reading reports on how a car performs and safety data. There is no reason you should not do the same thing when it comes to your credit history. If you are serious about hiring a company to help get your credit rating improved, our team is here to help you and offer a wealth of industry knowledge that is unmatched by any of our competitors. We have extensive industry experience and are Experts in the areas of credit repair, collections, credit bureau reporting, and the laws governing credit reporting.
10 – You have the right to sue all three credit bureaus if they are not able to correct inaccurate information on your credit reports.
The three main credit bureaus are notorious for reporting inaccuracies on millions of consumers’ credit reports. This is why over the past 40 years Congress has enacted laws to protect American consumers from the mistakes made by the credit bureaus. You have a legal right under federal as well as state law to sue Equifax, Experian, and Trans Union for any information not corrected on your credit reports if the information is inaccurate. Some lawsuits filed against the credit bureaus have won huge sums for the consumer.
Get in touch with our team to take advantage of your rights as a credit consumer.