F.C.R.A
Fair Credit Reporting Act
The FCRA was passed to address a growing
credit reporting industry in the United States that compiled "consumer
credit reports" and "investigative consumer reports" on individuals.
The FCRA was the first federal law to regulate the use of personal
information by private businesses.
Most people know that the big three bureaus are TransUnion, Equifax
and Experian. Every day these companies record inaccurate and even
completely incorrect information on your credit reports. What this law provides for us is a legal right to make these bureaus
prove their information is correct.
Negative items on your credit that are
reported by these bureaus often have no purpose of being there.
There are many reasons for that. Ultimately reasons that the bureaus
wont reveal, however they will reveal deletions on your report
in an effort to abide by this law.
