More Of Your Rights under the Fair Credit Reporting Act

Consumers have the right to dispute incorrect information.

According to the Federal Trade Commission, credit reporting agencies and information providers (i.e., creditors) are responsible for fixing any information that is inaccurate, incomplete, or outdated.


Consumers have the right to attach an explanatory statement to their report:

Unfortunately, not all disputes are resolved to the satisfaction of the consumer. In cases like this, consumers can attach a statement – of up to 100 words – that offers creditors and potential creditors an explanation of disputed information that will, or seemingly will, remain on one’s report.


Consumers have the right to have negative information on their credit reports purged once it is seven (7) years old (Note: The seven years in question are from the last date of activity, including having successfully completed Chapter 13 Bankruptcy. In cases of Bankruptcy that were unsuccessfully completed, negative information can remain on one’s report for ten years.).


Consumers have the right to know who received their credit report:

You can request a listing of all persons and institutions that solicited a copy of your credit report within the past six months or within the last two years if the request was made by an employer or potential employer.


Consumers have the right to seek compensation in the form of legal damages from violators in a court of law:
If your rights under The Fair Credit Reporting Act have been violated you may seek legal redress at the state or federal level. This includes both consumer reporting agencies and parties that use information found in your reports.



Consumers have a right to exclude themselves from unsolicited offers of credit:
If you desire, you can prevent creditors and insurers from making “pre-qualified” (also known as “pre-screened”) offers based upon your credit reports. You can opt out of these unsolicited offers in writing or over the phone, although many credit experts suggest that you submit your requests in writing. If you do call, be certain to pay close attention to the prompts because often times consumers are “tricked” into thinking they have permanently opted out when in fact they only opted out for a shorter period (typically two years):

Opt out by phone: 888/567-8688 (888/5-OPT-OUT). If you do call, make certain you know or have the following information on hand:

Full name

Street address

Zip code

Social Security number

Home telephone number

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