Fair Credit Reporting Act 

Companies that collect credit statistics on all of us are called Consumer Reporting Agencies (CRA's) or Credit Bureaus.  The three major CRA's in the US are Equifax, Experian and TransUnion.  When you apply for credit in any form, such as a personal loan, auto loan, credit card, or a mortgage, lenders check your credit with these three companies to evaluate your credit rating or "credit score".

It is, therefore, very important that you insure that the information contained in your credit history is correct. 

ParkAveCredit.com encourages you to obtain your own credit ratings from the three CRA's before applying for any loans, or every couple years simply as a credit "check-up".  There is a small charge, but this action allows you to verify that all information is correct, avoids multiple credit checks by lenders that may damage your credit score, and eliminates any nasty surprises when a lender checks your credit. 

For more information about how to obtain your credit ratings, see the ParkAveCredit Reference Library article entitled, "Protecting Your Credit"  

The Fair Credit Reporting Act (RCRA) was enacted to protect consumers from unfair credit information being included in their history, and provides recourse to challenge and correct any errors.  For full details on how to correctly handle any errors in your credit history, see the official website for the Fair Credit Reporting Act at www.ftc.gov/os/statutes/031224fcra/pdf