Credit Repair Organizations Act
Understanding your right to legal credit restoration assistance.
Although credit reports are generated by non-government organizations, Congress recognizes the significant impact a person’s credit report can have on their life and livelihood. As such, they’ve put a number of laws in place to help ensure consumers are treated fairly when it comes to their credit profile.
The information below is designed to help you understand one of these key laws – the Credit Repair Organizations Act (CROA). If you have questions about how credit counseling impacts your credit or how a debt management program is reflected on your credit report, call Consolidated Credit today at (844) 276-1544 or fill out an online application to request a free confidential consultation with a certified credit counselor.
How CROA relates to you and other laws
The Fair Credit Reporting Act was put in place to ensure credit bureaus are regulated to ensure report accuracy and to not violate people’s right to privacy. As a result, only certain things can be reported for certain lengths of time and reports can only be disclosed outside each bureau for specific reasons. It also protects your right to ensure the accuracy of the information contained in your report and outlines the process you can follow to dispute information that you believe is inaccurate or incorrect.
The Credit Repair Organizations Act is a followup piece of legislation that outlines how and when a consumer can use a third party to make those kinds of disputes on the consumer’s behalf. It ensures that services intended to help consumers correct their credit reports follow legal guidelines.