Get to Know Credit Report Law (cont.)
Contributed by Rachel s Pickett
If the credit reporting bureau cannot clear up the issues and concerns that you have, then it is appropriate to check the credit report laws that concern your situation for more information on what to do.
A law generally covered under credit report laws is that you have the right to have any lender on your credit report verified. If there is a lender on your credit report that is falsely harming your credit report, or should not be there by law you have the right to have that lender verified within 60 days after the credit report was issued. Knowing this can help you get rid of the lenders on your credit report that do not belong there, or contain errors.
Removing lenders from your credit report because you do not want them reported is a little bit trickier. Credit report law generally states that any lender may be removed from your credit report beginning 7 years from the date of your last transaction with the lender, and up to 10 years after in most cases.
Additional Resources
Additional resources can also be found at the Federal Trade Commission Website. The Federal Trade Commission can be found at www.ftc.gov or at the following address:
Federal Trade Commission Consumer Response Center
600 Pennsylvania Avenue Northwest
Washington, D.C. 20580
