The Fair Credit Reporting Act (FCRA) is the federal law that governs how credit information is collected, shared, and used. Understanding your FCRA rights is the foundation of effective credit repair.
What the FCRA Covers
The FCRA regulates three main parties:
- Credit Reporting Agencies: Experian, Equifax, TransUnion
- Furnishers: Banks, creditors, and collection agencies that report your data
- Users: Lenders, employers, and others who access your credit reports
Your Key FCRA Rights
1. Right to Accuracy (Section 611)
Credit bureaus must ensure that all information on your report is accurate and complete. If you dispute an item, they must investigate within 30 days (45 days if you send additional information during the investigation).
2. Right to Access Your Credit Report (Section 609)
You have the right to request and receive all information in your credit file, including:
- All accounts and payment history
- Who has accessed your credit
- Personal identifying information
- Method of verification for disputed items
3. Right to Dispute Errors (Section 611)
If you find inaccurate, incomplete, or unverifiable information, you can dispute it. The credit bureau must investigate and either verify, correct, or delete the information.
4. Right to Remove Unverifiable Information (Section 611)
If a creditor cannot verify the accuracy of a disputed item, it must be removed from your report—even if the debt is legitimate.
5. Seven-Year Reporting Limit
Most negative information must be removed after 7 years:
- Late payments: 7 years from delinquency date
- Collections: 7 years from original delinquency
- Charge-offs: 7 years from charge-off date
- Bankruptcies: 7-10 years depending on type
How to Exercise Your Rights
Filing an Effective Dispute
Your dispute letter should:
- Identify each item you're disputing by account name and number
- Cite specific FCRA sections being violated
- Include supporting documentation
- Request deletion of inaccurate/unverifiable items
- Be sent via certified mail with return receipt
What Happens After You Dispute
1. Bureau forwards your dispute to the data furnisher within 5 business days
2. Furnisher must investigate and report findings within 30 days
3. Bureau must provide you with results in writing
4. If item is corrected or deleted, bureau must notify all parties who received your report in past 6 months
Penalties for FCRA Violations
If credit bureaus or furnishers violate your FCRA rights, you can:
- File complaints with the CFPB and FTC
- Sue for actual damages plus attorney fees
- Receive statutory damages of $100-$1,000 per violation
- Receive punitive damages for willful violations
Use Professional Tools
OriumAI automatically generates FCRA-compliant dispute letters that cite specific sections and violations. Our AI identifies Metro-2® compliance errors that give you the strongest legal ground for removal.
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