The Fair Credit Reporting Act (FCRA) & Your Rights (Pt. 3)

May 6, 2014

Concluding our three-part blog The Fair Credit Reporting Act (FCRA) & Your Rights, here we will spotlight some additional borrowers’ rights provided by the FCRA. If you feel that your rights as a borrower were violated by a credit reporting bureau, you are encouraged to contact the Federal Trade Commission.

Here are some more borrowers’ rights from the FCRA. If you are ready to clean up some of the debt on your credit report, contact Colorado Bankruptcy Attorney Jon B. Clarke.

Here are some more borrowers’ rights from the FCRA. If you are ready to clean up some of the debt on your credit report, contact Colorado Bankruptcy Attorney Jon B. Clarke.

If, however, you are ready to clean up some of the debt listed on your credit report and achieve a financial fresh start, don’t hesitate to contact Colorado Bankruptcy Lawyer Jon B. Clarke.

Some additional borrowers’ rights that have been granted by the Fair Credit Reporting Act include the right to:

  • Expect prompt correction of errors on their credit reports – When it is found that borrowers’ credit reports contain mistakes or wrong information, the FCRA stipulates that borrowers have the right to have this information corrected within 30 days of it being identified as erroneous.

    Common misinformation on credit reports can include inaccuracies with a borrower’s contact information, marital status and/or debt obligations. Once such erroneous information has been corrected by a credit reporting bureau, borrowers can receive an updated copy of their corrected credit reports (to verify that the appropriate corrections were made)

  • Determine when employers may see their credit reports – Borrowers have the right to allow or prevent employers (including potential employers) from seeing their credit report. Specifically, borrowers have to provide explicit written consent for such parties to view their credit reports (except if the borrower is a truck driver and the potential employer is a trucking company).
  • Assurance that their credit report will only be accessible to the appropriate parties – The FRCA dictates that borrowers have the right to assume that their sensitive credit-related information will be protected and that only they themselves and entities with a valid need will be able to access this report.

    Parties who may be considered to have a valid need (but may still need explicit written consent) to access borrowers’ credit reports may include (but are not limited to):

    • Employers or potential employers
    • Landlords
    • Creditors or lending institutions
    • Insurance companies
    • Other businesses.

Colorado Bankruptcy Lawyers at the Law Office of Jon B. Clarke, P.C.

If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C. For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for both individuals and businesses alike. Our experienced legal professionals are committed to providing each of our Clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our Clients’ cases are resolved as favorably and efficiently as possible.

For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950 or email us some details about your situation by clicking here.

Categories: Blog, Credit, Fair Credit Reporting Act