Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.
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WWW.UPANDCOMINGWEEKLY.COM 16 UCW NOVEMBER 18-24, 2020 Credit is like a key. If you have good credit, then you can unlock more of society's doors than someone with bad or no credit. Credit plays such an important role in our lives that Congress created an entire system to ensu- re that your credit is reported cor- rectly. The Fair Credit Reporting Act (FCRA) ensures that com- pawnies who run and report your credit (i.e., Equifax, Experian, TransUnion) and companies who provide information to consumer reporting agencies such as credit card companies, auto finance companies, bank collection agen- cies, etc., do not harm you with false information. Broadly spea- king, the agencies or companies who report your credit informati- on must correct or delete inaccu- rate, incomplete, or unverifiable information, nor can they report outdated negative information. On a more personal level, the FCRA provides seven consumer rights: 1. You have the right to know what is in your credit file. 2. You have the right to know what, if any, of your file has been used against you. 3. You have the right to ask for your credit score. 4. You have the right to chal- lenge inaccurate or incomplete information. 5. You have the right to "pre- screen" offers of credit and insu- rance you receive as a result of information in your file. 6. You have the right to limit access to your file and obtain a security freeze. 7. You have the right to prevent your employer from accessing your credit report. If your rights are violated, you can seek damages for FCRA vio- lations. The FCRA distinguishes between negligent and willful violations. If someone negligently violates the FCRA, then a con- sumer victim can recover their actual damages and attorneys' fees. Conversely, willful violations allow a consumer victim to reco- ver between $100 and $1000 dol- lars in actual damages, attorneys' fees, and, if allowed by the court, punitive damages. Your credit is important and it is protected by Federal Law. If you are having issues with your credit report or have received notification indicating that you were being rejected based on a consumer report that contai- ned inaccurate information, it is important to know your rights and to consider seeking the advi- ce of an experienced consumer protection attorney. Your rights under the Fair Credit Reporting Act by REBECCA BRITTON The Fair Credit Reporting Act ensures that companies who run and report your credit and companies who provide information do not harm you with false information. LEGALLY SPEAKING REBECCA BRITTON, Cofounder of Britton Law. COMMENTS? Editor@upandcomingweekly.com. 910-484-6200. FREE HEALTH CARE • for uninsured Adults call 910.485.0555