FCRA is a set of rules for keeping your personal information. The basic objective behind this set of rules is to make sure that your personal information is safe. This article informs you more in relation to FCRA, including the following:

What details you know about FCRA?
What are the various rights that you can enjoy under FCRA?

Learn more about the effect of FCRA on you.

The Fair Credit Reporting Act (FCRA) is a set of rules and defined responsibilities that are meant to keep your personal and your credit information safe and accurate. The FCRA is enforced by the Federal Trade Commission and is created to protect you. Specifically, the FCRA is concerned with the credit history information contained in the credit reports which are filed by credit bureaus and other companies that acquire credit information about you.

The FCRA is considered crucial because credit reports have become so important in recent years. Credit reports contain key personal information – such as employer names, spouse names, repayment history, and bill payment history. The FCRA gives you rights to access and to correct this information. The FCRA also helps to ensure that this information cannot be viewed by anyone.

How Does the FCRA Affect Me?

Even though you may not be aware of the Fair Credit Reporting Act, it works everyday to keep your credit and you safe and secure. The FCRA forces companies and lenders as well as credit bureaus to be more responsible and accurate in handling information about you. By outlining specific responsibilities and rules, the FCRA ensures that credit reports involve you and do not just become secret documents about you. Thanks to the FCRA, you can demand that false or inaccurate information about you be removed from credit reports and you can also check your report frequently to satisfy yourself that it is an accurate reflection of your credit. In short, the FCRA allows you to have a role in your credit report, so that you remain in control of your credit rating.

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