If you didn't know the Fair Credit Reporting Act was enacted in'70 to defend consumers against inaccuracies and inconsistencies on reported credit, it was. This law allows consumers to dispute mistaken and misleading listings on their credit report such as charge-offs, late payments, repossession and more. It also allows consumers to receive their own credit report fully free of charge each year.

Fair Credit Reporting Act may be the most essential when it comes to credit repair but there are two other notable laws that can also concern your credit repair efforts. It is prudent to learn about these laws too.

While the FCRA or the Fair Credit Reporting Act is the basis which makes all credit repair workable, the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act are also significant to a reliable credit repair plan.

The Fair Credit Billing Act or as it is otherwise known by the acronym FCBA requires creditors to invoice appropriately and fully. It prohibits illegal charges, or charges that have the mistaken date or wrong amount, any charges that are for merchandise or services that were not accepted by you or not delivered as settled upon. A company must post payments and other credits and they must send billing notices to your current address if any changes of address were received 20 days prior to the billing cycle. The FCBA also allows a consumer to ask for written proof of purchase or requests for explanation from the company.

The FDCPA or the Fair Debt Collections Practices Act was enacted to defend regular persons from unjust and unwarranted collection agencies and tactics. This law restricts debt collectors from engaging in some of the appalling ways that they were known for in the past.

FDCPA outlines rational collection practices. Some examples include not being able to call a third party who does not owe the debt. A collection agency cannot issue counterfeit threats in order to frighten you into paying. They can only call at realistic hours, normally between 8:00 am and 9:00 pm unless they have your explicit authorization and they are not allowed to call you at places or times that you have let them know is objectionable.

This law, the FDCPA is very wide-ranging and it has a long list of restrictions and customary actions for collection agencies. Just be aware that you must purposely and just to be safe, you should perhaps do it in writing tell them when and where it is improper for them to call you. If you have any questions about the law you can do an Internet search and read it in its entirety.

Here are the three laws that are so essential to you as a credit consumer. You can use any of them as a helpful measure when you need to complete credit repair so it is intelligent to be aware of them and know where to find extra information if needed.

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