The Fair Credit Reporting Act (FCRA) is the federal law that controls what goes on your credit report and how you can fix it.
Your key rights
- See your reports for free. Equifax, Experian and TransUnion each give you a free report every week at AnnualCreditReport.com.
- Dispute errors. If something is inaccurate or incomplete, you can dispute it with the credit bureau and with the company that reported it.
- Get an investigation. The bureau generally has 30 days to investigate your dispute (up to 45 days in some cases) and must send you the results.
- Have unverified information fixed or removed. If the information can’t be verified, it must be corrected or deleted.
- Time limits. Most negative information can be reported for up to 7 years. Chapter 7 bankruptcy can be reported for up to 10 years.
- Know why you were denied. If you’re turned down because of your credit report, the lender must tell you which bureau it used, and you can get a free copy of that report.
- Freeze your credit for free at each bureau to block new accounts in your name.
If a dispute doesn’t get fixed
You can add a statement to your file, dispute directly with the company that reported the information, or file a complaint with the Consumer Financial Protection Bureau.
Want help with your file? Book a free strategy call, or learn the process yourself with The Approval Room (free for 7 days).
This article is for education only and is not legal or financial advice. Results vary.