The Credit and Credit Repair Laws that affect you
most are outlined below. Clicking on the laws and acts themselves will
lead to you to the full texts of these important laws.
The
Fair Debt Collections
Practices Act outlines the rights of consumers and
responsible practices of debt collectors.
The
Fair Credit Reporting
Act promotes accurate
reporting from the credit bureaus and
seeks to protect consumer privacy rights. This Act is especially
important for credit repair purposes.
The
Consumer Leasing Act
is an amendment made in 1976 to the Truth in Lending Act and was
intended to protect consumers from misleading and inaccurate
information.
The
Credit Repair Organizations Act
was enacted to provide guidelines and regulations for how credit repair
companies operate. This Act is very important for the government
agencies that seek to protect consumers from
credit repair scams and fraud.
The
Equal Credit Opportunity Act
is designed with the intent to ensure that individuals have equal
opportunities to access credit, regardless of race, religion, sex, etc.
FCRA Rights & Duties
contain three notices of amendments that became effective on September
30, 1997 that enhance the Fair Credit Reporting Act.
The
Fair Credit Billing Act
outlines dispute resolution procedures that must be followed when
addressing unfair billing practices by creditors.
The
Identity Theft and
Assumption Deterrence Act defines identity theft and seeks to
address this growing type of credit fraud.
The
Truth in Lending Act
was designed to protect consumers before, during and after they make
borrowing decisions.
These credit laws are extremely important for those wishing to
repair bad credit histories. Because
they are difficult for most people to understand, many individuals
choose to seek out professional credit repair services to let the
experts, familiar with these laws, address their credit concerns. Learn
more about credit repair services
and how they can help you address poor
credit scores.