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Gulf Coast Financial Solutions
Gulf Coast Financial Solutions
The Consumer's Rights
Understanding Your Right As A Consumer
- You have the right to challenge the accuracy of you credit report at any time.
- The Credit bureau must "investigate" anything you challenge or dispute without charging you.
- The Credit bureau has 30-45 days to "investigate" which constitutes "a reasonable amount of time" unless you receive a witten notification requiring why the need more time.
- If the Credit bureau finds an error in the challenged item, then, they must delete or remove that item.
- If Credit Bureaus cannot confirm the disputes within the said " reasonable amount of time", they must delete that information from your files.
The Fair Credit Reporting Act or FCRA:
* Designed to promote and establish accuracy as well as ensure privacy of the information used in consumer reports.
* Credit Reports are used to evaluate a person's application for employment, credit, insurance and leases.
* FCRA, provides a mechanism or method to contact the credit bureaus if your credit contains inaccurate information.
* Under the FCRA, you have the right to get a free copy of your credit report once a year or if denied for credit or employment.
* FCRA is a "federal umbrella" that protects the privacy, rights and accuracy of every American Consumer.
* Designed to promote and establish accuracy as well as ensure privacy of the information used in consumer reports.
* Credit Reports are used to evaluate a person's application for employment, credit, insurance and leases.
* FCRA, provides a mechanism or method to contact the credit bureaus if your credit contains inaccurate information.
* Under the FCRA, you have the right to get a free copy of your credit report once a year or if denied for credit or employment.
* FCRA is a "federal umbrella" that protects the privacy, rights and accuracy of every American Consumer.
