Fair Credit Reporting Act

Until recently, consumers were not allowed to view their own credit reports. However, according to Fair Credit Reporting Act, consumers have the right to review their credit report and to have the information on the report corrected if necessary. It promotes the accuracy and privacy of information in reports and requires reporting agencies to maintain correct and complete files.

Under the Fair Credit Reporting Act:

• You have the right to a free report if you can certify that you are unemployed and plan to look for a job within 60 days, You are on welfare, or Your report is inaccurate due to fraud.
• You may request that agencies do not distribute your name for unsolicited offers.
• When denied credit, you have 30 days to request a free copy of your credit report.
• Credit bureaus are responsible for investigating and changing incorrect data on reports and they should re-issue corrected reports to lenders and employers.
• Only those with legitimate business reasons can access a credit report.

You have the right to sue consumer reporting agencies for violation of this act.