Page 15 - Book7E

Keep in mind that, according to the FCRA, the law is on your side if information on your credit report is proven to be false but is not removed. Under the law, you are entitled to actual damages, plus puni- tive damages that the court may allow if the
violation is proved to have been intention- al. In any successful lawsuit, you will also be awarded court costs and attorney’s fees.
You may also sue any credit-reporting
agency or creditor for breaking the rules
about who may see your credit records
or for not correcting errors in your file. A
person who obtains a credit report without
proper authorization—or an employee of a credit reporting agency who gives a credit report to unauthorized persons—may be fined up to $5,000 or imprisoned for one year, or both.
Under the Fair Debt Collection Practices Act (FACTA), an amend- ment to the Fair Credit Reporting Act passed in 2003, consumers are now able to receive one free credit report a year. The free report can be requested by telephone, mail, or through the government authorized website, www.annualcreditreport.com. This report does not, however, include your credit score.
The FFEF CreditScore Review
Ask your FFEF Counselor about obtaining an FFEF CreditScore Review. This helpful Review will provide you with a copy of your credit report and your FICO credit scores—the same credit report and scores used by mortgage companies, banks, and other lenders when determining your credit worthiness. But more importantly, this Review will help you understand your credit report and teach you how to improve your credit score and dispute any errors that you find on the report.
Reading Your Credit Report 7
Don't be one to remember everything lent, but forget everything borrowed.
—Anonymous