Your Rights Under the Fair Credit Reporting Act

1. You Have the Right to Know What's in Your File

You have the right to request and obtain:

• All information about you in a consumer reporting agency's files
• The sources of the information (with some exceptions)
• A list of everyone who has requested your credit report within the past year (two years for employment purposes)

How to obtain your credit report:

• Free Annual Report: You are entitled to one free credit report every 12 months from each of the three nationwide credit bureaus (Equifax, Experian, TransUnion). Visit www.annualcreditreport.com or call 1-877-322-8228.
• Additional Free Reports: You may also request a free report if:
  • You are unemployed and plan to look for a job within 60 days
  • You are on public welfare
  • Your report is inaccurate due to fraud, including identity theft
  • You are a victim of identity theft and place a fraud alert on your report

2. You Have the Right to Dispute Inaccurate Information

If you believe information in your credit file is inaccurate or incomplete:

• You can dispute the information directly with the consumer reporting agency
• The agency must investigate your dispute (usually within 30 days)
• If the information is found to be inaccurate, it must be corrected or deleted
• You will receive a free copy of your report if the dispute results in a change

How to Dispute Credit Report Errors

3. You Have the Right to Add a Statement to Your File

If an investigation does not resolve your dispute, you can ask that a statement of the dispute be included in your file and in future reports. You can also ask the consumer reporting agency to provide your statement to anyone who received a copy of your report in the recent past.

4. You Have the Right to Know Who Has Accessed Your Report

Consumer reporting agencies must provide you with:

• A list of everyone who has requested your credit report within the past 12 months for most purposes
• A list of everyone who has requested your report for employment purposes within the past 24 months

5. Your Consent is Required for Credit Report Access

A consumer reporting agency may provide information about you only to people and entities with a valid need, as recognized under the FCRA. Generally, this means:

• You have given written consent (as with DebtPrepAI)
• A creditor or lender considering extending you credit or reviewing an existing account
• An employer considering you for employment (with your written permission)
• An insurer considering you for an insurance policy
• A landlord considering you as a tenant
• Anyone with a legitimate business need in connection with a business transaction you initiated
• A court order or federal grand jury subpoena

6. Limits on Reporting Negative Information

In most cases, a consumer reporting agency may not report negative information that is more than seven years old, including:

• Late payments
• Collection accounts
• Charge-offs
• Civil judgments (as of 2018, most judgments are no longer reported)

Exceptions:

• Bankruptcy information can be reported for 10 years
• Criminal convictions can be reported indefinitely
• For applications involving more than $150,000 in credit, a job with a salary over $75,000, or life insurance of $150,000 or more, negative information older than 7 years may be reported

7. You Have Special Rights If You Are a Victim of Identity Theft

If you are a victim of identity theft, you have the right to:

• Place a fraud alert: You can place a fraud alert on your credit file that lasts for one year (or seven years for extended alerts). This tells creditors to verify your identity before opening new accounts.
• Obtain free credit reports: You are entitled to free copies of your credit reports when you place a fraud alert.
• Block fraudulent information: You can ask a consumer reporting agency to block fraudulent information resulting from identity theft from appearing on your credit report.
• Prevent information furnishers from reporting fraudulent accounts: You can prevent information about fraudulent accounts from being reported to credit bureaus.

8. You Have the Right to Place a Credit Freeze

A credit freeze (also called a security freeze) restricts access to your credit report, making it more difficult for identity thieves to open new accounts in your name.

• Credit freezes are FREE under federal law
• You can place and lift a freeze online, by phone, or by mail
• You must contact each of the three credit bureaus separately
• You can temporarily lift the freeze when you need to apply for credit, then re-freeze it

Note: A credit freeze may delay your ability to use DebtPrepAI's credit report feature. You can temporarily lift the freeze for the credit bureau we use, then re-freeze it after.

9. Limits on Employer Access to Your Credit Report

An employer may not obtain your credit report without your written consent.

If an employer takes adverse action against you (such as not hiring you or terminating your employment) based in whole or in part on information in your credit report, the employer must:

• Provide you with a copy of your credit report
• Give you notice of your rights under the FCRA before taking the adverse action

10. You Have the Right to Receive Adverse Action Notices

If someone takes adverse action against you based on information in your credit report, they must:

• Tell you the name, address, and phone number of the consumer reporting agency that provided the report
• Tell you that the reporting agency did not make the decision and cannot explain why
• Tell you that you have the right to a free copy of your report from that agency if you request it within 60 days
• Tell you that you have the right to dispute inaccurate information

11. You Can Sue for Violations of the FCRA

You may sue anyone who violates the FCRA in state or federal court. If you win, you may be entitled to:

• Actual damages (financial losses)
• Punitive damages (if willful violation)
• Attorney fees and court costs

12. You Can File a Complaint with Regulators

You can report FCRA violations to:

Additional Resources

• Free Credit Reports: www.annualcreditreport.com
• CFPB Consumer Resources: www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/
• FTC Credit Report Resources: www.consumer.ftc.gov/articles/free-credit-reports
• Identity Theft Assistance: www.identitytheft.gov