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Some debt collectors are known to practice unfair debt collection methods that can be deemed as harassment or a violation of the Fair Debt Collection Practices Act (FDCPA).
If there are any violations of the Fair Debt Collection Practices Act (FDCPA) or the Fair Credit Reporting Act (FCRA) on your credit report or by collection agencies, we refer to an attorney that specializes specifically against the unfair and/or abusive practices by debt collectors.
For example, here are some actions a collection agency is not allowed to do:
These accounts mainly include any open collection accounts and charge-off accounts that still have a balance.
If any violations are found, you may be entitled up to $1,000. This step can also contribute to 30% of your credit score versus whatever is positive or negative on your file but not limited to your inquiries and or balances.
The Fair Credit Reporting Act (FCRA) is a federal law that helps to ensure the accuracy, fairness and privacy of the information in consumer credit bureau files. The law regulates the way credit reporting agencies can collect, access, use and share the data they collect in your consumer reports.
Passed in 1970, the FCRA helps consumers understand what actions they can take in regard to the information in their credit reports. Information is being gathered about consumers all the time: In addition to the three major consumer credit bureaus (Experian, TransUnion and Equifax), there are other organizations that may collect and use your information. For example, banks and credit unions may use information from your credit history to determine whether to approve you for a loan.
Why does it matter how information about your credit is used? Whenever you apply for a credit card, a car loan, a mortgage loan or any other form of credit, the issuing company checks your credit history to assess your creditworthiness. The terms you are offered for credit (such as a loan) may be based in part on your credit score and information in your credit report.
Your credit history affects more than just your ability to get loans or the annual percentage rate (APR) on your credit cards. For instance, prospective landlords could check your credit report to see how creditworthy you are when deciding whether they can trust you to pay your rent on time.
In some states, employers may check your credit report for hiring purposes. Also, depending on the state, insurance companies may check your credit to determine whether to offer you coverage.
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