As a consumer, you have a number of rights that may help you retain control
and confidence in the face of considerable debt. Among these are the protections
you enjoy under the Fair Credit Reporting Act (FCRA), which seeks to promote
fair and accurate practices within credit bureaus. If you find that some
party or another violates your rights, you may have grounds to pursue
legal action against them in addition to enforcing your rights.
Under the FCRA, consumers have the right to
- Limit the number and type of “prescreened” credit offers they
receive from potential lenders
- Limit who can access their credit files
- Know their individual credit scores
- Know other information within a credit report
- Dispute information within a credit report they believe is incomplete or
- Know which information contributed to an application denial
If you believe that you have suffered unfairly because of illegal or unethical
credit practices by lenders, insurers or potential employers, then you
should carefully consider all the legal tools you have available. In some
cases, you may merely need to inform the offending party of your rights
and instruct them to reconsider the actions taken that violated your rights.
In other cases, you may need to take stronger actions and consider some
form of legal action.
An experienced attorney can help you assess your financial needs and determine
an efficient way to overcome your credit and debt concerns. In many cases,
the most effective tool available is a form of bankruptcy, especially
if your credit is already seriously compromised. Be sure to take all the
steps necessary to address your needs while
keeping your rights secure from violation.