Business & Finance Credit

How to Repair Credit - Know How to Do it Correctly From the Start

If you have some issue over the credit score that you have been given then it's probable that you'll want to know how to repair the situation.
Credit repair laws do exist to allow you to do so, since often the scores awarded to people are not a fair reflection of the person's credit history.
A Fair Credit Reporting Act (FCRA) was introduced in 1970 in order to protect consumers from unfair or inaccurate credit reporting.
By introducing this act, the public were finally entitled to challenge the credit scores given to them by credit bureaus, and made score-makers answerable under scrutiny.
When it comes to credit repair in particular, this law is extremely important but two other laws are equally so: the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Billing Act (FCBA).
These three laws are vital in ensuring fairness in credit scores.
But what are these laws? Well, the FCRA is seen as the basis of credit repair laws as it provides the right to consumers to challenge their score.
The FCBA is a law that strictly controls the billing process that creditors comply with.
It ensures that everything on the bill is above board, with aspects such as date of a charge, poor quality goods received, returned or unaccepted goods covered to ensure the consumer is billed fairly.
The FDCPA protects against unfair practices by creditors and was introduced following a history of dishonest practices by some creditors that were never addressed by the law in the past.
This refers mostly by the practices involved in collecting debt, where sometimes a lawyer was hired to threaten legal action when unnecessary to intimidate debtors.
As a result, creditors can no longer use a third party in their collection processes and must only contact you between 8am and 9pm, not in the early hours to prevent you from getting any sleep.
All in all, the arrival of these three pieces of legislation has helped in ensuring the fair treatment of the consumer in relation to credit and credit scores.
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