Your Rights

As a consumer you have rights and these laws protect you from being taking advantage of. 

The Fair Credit Reporting Act (FCRA)- This U.S. Federal Government legislation was enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It’s purpose is to protect consumers from willful or negligent inclusion of inaccurate information in their credit reports. The Fair Credit Reporting Act, 15 U.S.C. § 1681 regulates the collection, dissemination, and use of consumer information.

Fair Debt Collection Practices Act 

(FDCPA) The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended) is a consumer protection amendment, establishing legal protection from abusive debt collection practices. (wikipedia) This Act limits the behavior and actions of third- party debt collectors, not the original creditor. It provides the consumer with an outlet for disputing and obtaining validation of debt information in order to ensure the information's accuracy.

Fair Credit Billing Act- This act is a federal law enacted as an amendment to the Truth in Lending Act. This act  protects the consumer from unfair billing practices and provides a mechanism for addressing billing errors in "open end" credit accounts, such as credit cards or charge card accounts. This allows the consumer to dispute billing errors by sending a written notice to the creditor and the dispute must be received by the creditor within 60 days of the statement date on the account statement that contained the billing error. 

Truth in Lending Act (TILA)- This U.S. federal law of 1968 was created to promote the informed use of consumer credit. It ensures the consumer is treated fairly in business lending by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. 

Credit Card Act of 2009 (CARD)- The U.S. Congress passed this federal statute on May 22, 2009 to improve consumer disclosures and establish fair practices relating to the extension of credit under an open end consumer credit plan. Some major benefits of the Act include fee restrictions, issuers can’t raise rates on existing balance unless promotional rate expired, gift card protections, and more time to pay.

Statute of Limitation – This is the time limit a creditor has to sue you for unpaid debt. The length of time varies from state to state so check your state to confirm.

They Can Help!

Federal Trade Commission- (FTC)

Financial Protection Bureau- (FPB)

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