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Credit Repair Laws

 

There is more to credit than the Fair Credit Reporting Act.

Most people believe that credit repair begins and ends with the Fair Credit Reporting Act. In fact, there are thick pamphlets and even whole books directed toward consumers whose entire contents dwell upon that singular Federal statute. Amazingly, in many cases, authors simply reprint the entire text of the law verbatim, presumably just to fill half their pages.

And, for that, you pay money.

Despite the author's best efforts, there are those who don't want a master's degree in consumer credit repair laws. They don't desire to expand their intellectual horizons today. They're just seeking an extra hundred FICO points so that mortgage brokers, car dealers, and credit card companies won't pillage their financial accounts. If that's your position as well, then consider telephoning the professionals at RMCN Credit Services, Inc. 888.4.MY.REPAIR or visiting our site at www.RepairMyCreditNow.com.  RMCN is one of the largest credit services organizations devoted to helping consumers with credit report issues in the Nation.

Unfortunately, the credit landscape is littered with lawless debris. Such tactics include booklets and consultants who may suggest identifying someone near your age who died as a child and attempting to establish credit in their name. Others advise simply making up a Social Security number in accordance with some geographically-based numbering scheme, and applying for credit with that. Still others teach how to acquire an IRS Taxpayer Information Number (TIN), which looks like a Social Security Number, and using that. Needless to say, every one of these methods risk loss of freedom, income, and community standing. Anytime you see a seductive advertisement on the net or elsewhere for "NEW CREDIT FILE OVERNIGHT," steer clear.

Fortunately, you won't find that type of credit repair espoused in this document. Instead, Federal statutes should be leveraged in the service of improving your credit standing. Laws must be chased and embraced rather than shunned and avoided.

The truth is that truly legal credit repair is a gradual process that takes time to complete.

The fact is that any solid credit repair campaign should pay tribute to many, rather than just one, Federal statutes. In addition to the oft-chewed but rarely digested Fair Credit Reporting Act (FCRA), one must also consider the Fair Credit Billing Act (FCBA) as well as the Fair Debt Collections Practices Act (FDCPA), Fair and Accurate Transaction Act (FACTA), and the Health Insurance Portability and Accountability Act (HIPPA).

Together, these consumer protection statutes define your civil rights as a consumer. Understanding -- and even better, exercising and enforcing -- those federally guaranteed protections is the absolute best way to transform a poor credit score into a really good one.

Now, make no mistake. Any solid credit repair campaign should begin with the FCRA. However, despite the prevalent groupthink found practically everywhere on the internet and in bookstores, it needn't end there.

Visitors who read this page also viewed these pages:

• Equal Credit Opportunity Act (ECOA) - How this act helps you get and maintain your good credit.
• Fair Credit Reporting Act (FRCA) - Rules of the road for credit reporting agencies.
• Fair Debt Collection Practices Act (FDCPA) - How debt collection agencies have to deal with you.