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Do you know your rights?

The Fair Credit Reporting Act was passed in the United States originally in 1970 to regulate collection, distribution, and use of consumer credit information. It is enforced by the US Federal Trade Commission.


Under this act, credit bureaus, such as Experian, Equifax and Transunion, have certain responsibilities:


1. They must provide a consumer with the information about him or her in their files and verify the accuracy of that info.

2. Negative info that has been disputed and removed may not be reinserted without notifying the consumer in writing within five days.

3. The Credit Bureaus may not keep negative info for an excessive period, such as more than seven years for late payments, collections or judgments. The only exceptions are bankruptcies (10 years) and tax liens (seven years from when they were paid).

Also under this act, information furnishers, such as credit card companies, collection agencies, auto financers or mortgage lenders, may only report to a consumer’s credit as long as:

1. They provide complete and accurate information.

2. They must investigate disputed info and must respond within 30 days of notice of a dispute.

3. They must inform consumers of negative info that has been or is about to be placed on their credit report within 30 days.


It’s important to be proactive in your own life and credit. Let United Credit Source educate you in the restoration process on how credit works as well as gaining a better understanding of your rights. We want to help you regain control of your finances, so that you can live the best quality life there is to offer.