The creditor that furnishes negative information to a credit report is obligated to investigate consumer disputes under the Direct Dispute Rule. Go directly to the source (the creditor) to dispute inaccurate credit report items.
Consumer reporting agencies collect, maintain and sell information on millions of consumers. Consumer reporting agencies include the three major credit bureaus Experian, Transunion and Equifax but they also include specialty agencies like ChexSystems that maintain and sell information about consumers’ banking history. The FCRA covers all consumer reporting agencies that gather, retain, compile, issue, and…
An automatic stay goes into effect where creditors cannot sue you when you file Chapter 13 bankruptcy but the bankruptcy tolls the statute of limitations.
The Truth in Lending Act gives consumers the right to challenge errors on their credit card statements. If you discover a problem with your credit card statement there are several actions you can take to dispute a credit card bill. The most common credit card disputes arise from unauthorized use of your card, incorrect amount…
The Fair Debt Collection Practices Act gives consumers protections against abusive and unethical practices of debt collectors.
Filing a Chapter 7 Bankruptcy may not wipe out all your debts. Certain debts, unless you can prove extreme hardship, cannot be discharged.
On Mar. 9, 2015 the three major credit reporting agencies — Experian, Equifax and TransUnion agreed to revise the dispute process and reporting methods for unpaid medical bills as part of a comprehensive overhaul in the industry. After more than a year of talks between the credit reporting agencies and NY Attorney General Eric Schneiderman,…
The Fair Credit Billing Act (FCBA) provides for the prompt correction of errors and protects consumers’ credit ratings while they are settling disputes
The Consumer Financial Protection Bureau released comprehensive new rules on January 10, 2013, aimed at fixing the home lending market. The sweeping new standards stem from the 2010 Dodd-Frank Act and are designed to prevent a repeat of the 2008 financial and housing crisis. A major portion of the new rules are directed at borrowers…
Risk base pricing is used by lenders and banks to determine what credit terms a consumers will receive based upon the consumer’s credit history.
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