Fair Credit Reporting Act
The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs furnish
correct and complete information to businesses to use when evaluating your application.
Your rights under the Fair Credit Reporting Act:
- You have the right to receive a copy of your credit report. The copy of
your report must contain all of the information in your file at the time of
your request.
- You have the right to know the name of anyone who received your credit
report in the last year for most purposes or in the last two years for employment
purposes.
- Any company that denies your application must supply the name and address
of the CRA they contacted, provided the denial was based on information given
by the CRA.
- You have the right to a free copy of your credit report when your application
is denied because of information supplied by the CRA. Your request must be
made within 60 days of receiving your denial notice.
- If you contest the completeness or accuracy of information in your report,
you should file a dispute with the CRA and with the company that furnished
the information to the CRA. Both the CRA and the furnisher of information
are legally obligated to reinvestigate your dispute.
- You have a right to add a summary explanation to your credit report if
your dispute is not resolved to your satisfaction.
