Credit Reports
Have you ever gone to the bank to get a new loan and been denied because of bad credit? If so, does the bank have to do anything other than say, "You've been denied"? What can you do to examine your credit report? Do the credit reporting agencies owe you any duties?
According to a report released in 2005 by the U.S. Government Accountability Office (GAO), many consumers are uneducated as to the intricacies of credit reporting and their rights (click here to read the report). In fact, many consumers likely suffer from poor credit that is only poor because of reporting inaccuracies.
To find more information about your rights regarding credit reporting, see the information from the link below.
Fair Credit Reporting Act - This Federal law (the FCRA) governs the use of credit reports nationally and explains the rights of consumers with regards to their credit information and outlines the responsibilities of credit reporting agencies and creditors who report information.