money.affsaltra.net

When it comes to credit repair, a consumer will usually think the FCRA or the Fair Credit Reporting Act. This act is the base for all credit repair since it gives consumers the right to dispute incorrect or dishonest listings on their reported credit. It also allows a consumer to receive one free credit report every year from each of the three main credit bureaus.

Nearly all individuals who know about credit and credit practices and repair are familiar with this law. However, there are two additional laws that affect you as a consumer and can be valuable to you for credit repair and it is shrewd to discover about these laws also.

While the FCRA or the Fair Credit Reporting Act is the foundation which makes all credit repair achievable, the FCBA or the Fair Credit Billing Act and the FDCPA or the Fair Debt Collection Practices Act are also crucial to a solid credit repair plan.

The Fair Credit Billing Act or as it is otherwise known by the acronym FCBA requires creditors to bill properly and fully. It prohibits unauthorized charges, or charges that have the incorrect date or mistaken amount, any charges that are for commodities or services that were not acknowledged by you or not delivered as agreed upon. A company must post payments and other credits and they must send billing notices to your up to date 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 Fair Debt Collections Practices Act was considered to safeguard consumers from extreme and unfair collection agencies and procedure. It was enacted to guard regular consumers from some of the appalling practices that collection agencies regularly engaged in the past.

FDCPA outlines reasonable collection practices. Some examples include not being able to make contact with a third party who does not owe the debt. A collection agency cannot issue fictitious threats in order to frighten you into paying. They can only call at rational hours, typically 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.

FDCPA has a long list of boundaries and customary behavior for collection agencies to follow. You can specifically ask for that they do not call you at intolerable places or times and to be safe you should possibly do it in writing. If you have questions about the Fair Debt Collections Practices Act you can carry out an Internet search and read the law in its entirety.

All 3 of these laws are critical to you as a credit consumer. Each of them can be advantageous if you need to complete any repairs on your credit so it is sensible to be attentive of them and search out the information if it becomes required.

Whether you like it or not repairing your credit might become required at some point. If you need further information about credit repair mortgage visit http://724Credit.com and don’t forget to sign up for a free credit repair course.