Fair Credit Reporting Act to Protect You from Fraudulent Reports
There are times when you cannot help but take a loan to overcome certain difficulties regarding financial crunches. And even if you take up a loan willingly for say education or for buying a property, there are times and situation that leaves you unable to repay the loan. There are two consequences to this, firstly you lender might make your life miserable by taking up unfair means for getting back their money and secondly, your credit rating reports will be harmed, making it difficult for you to get any loans in future. For the first case, there is a law in place to protect you from abuses from a lender. You can take the help of a fair debt collection attorney to protect yourself from such behavior from your lender. And if you think your credit rating report has some problems, there are laws for that too, fair credit reporting act.
For the first case, you need to know exactly what kinds of practices fall under unfair debt collection practices and take action accordingly. If your lender is threatening you or abusing you in any way, it is punishable in the eyes of the law and hence you can take action against your lender. But firstly you need to consult a fair debt collection attorney to know the process you can go through to take action against your lender.
You can collect information on the Internet too but taking the advice of an expert is a better option since an attorney would know well what can be done in your situation. Knowledge is power and hence do not suffer silently at the hand of your lender when you have the law on your side to protect you. Protect yourself from unfair debt collection practices. Take the help of a fair debt collection attorney immediately.
If you think your credit rating report is unfair, you can take action against that too under the fair credit reporting act. You can ask for a copy of your report and check to see if there are any re mention of you old and cleared debts. If there are things like that, you can and should consult an attorney to take immediate action since this is your future and hence delaying can cause irreversible damage. Under the laws of fair credit reporting act no one can get a copy of your credit reports without your permission.
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