People Come First At Our Consumer Rights Law Firm
When reviewing your credit report in an effort to raise your credit score, you might’ve wondered about the 7-year clock. Many consumers aren’t sure if making a payment on a negative account in full that is already scheduled to fall off your report will restart the 7-year clock all over again. The language of the Fair Credit Report Act (“FCRA”) reads as follows:…
In the case of Glazer v. Chase Home Finance, LLC et al , the Sixth Circuit of the U.S. Court of Appeals rendered an opinion this week adding mortgage foreclosures to the list of defined collection activities under the Fair Debt Collection Practices Act (FDCPA). This decision by the Sixth Circuit allows consumers to now hold collection tactics involved in…
It is a familiar story – a panicked consumer calls. His or her paycheck was garnished. They had no clue this was going on. He or she did not receive notice that their wages were going to be garnished or maybe that there was even a case pending against them. How can they get this garnishment stopped, and what other…
The Red Flags Rule was adopted in December of 2010 by the Federal Trade Commission (“FTC”) to help prevent identity theft. The rule was implemented to force businesses to keep a watchful eye on any suspicious activities or “red flags” that may lead to identity theft within business operations…..simply put, it is a rule adopted by our government to protect…
One of the most popular questions from consumers is do I have to pay an old debt? It is the old debt dilemma – to pay or not to pay. TO PAY: If you incurred the debt, the collector can continue to seek payment until it is satisfied. The debt will fall off your credit report after 7 or 10…
A credit score is a number that potential creditors use to determine the likeliness of paying off one’s debts. Every consumer with credit has a credit score which is determined based on the information reported on your credit report. A credit report is run through an algorithm that calculates several factors in a credit report to produce a score. That…
Earlier this week, we discussed the 2003 amendment to the Fair Credit Reporting Act (“FCRA”) called FACTA, the Fair and Accurate Credit Transactions Act. Last year an issue based on the statute came before the Northern District of Illinois and the Court was forced to decide on summary judgment whether distributing a copy of a merchant’s receipt to a customer…
The Fair and Accurate Credit Transactions Act (“FACTA”) is an amendment to the Fair Credit Reporting Act (“FCRA”) that was added in 2003 to safeguard consumers from the growing dangers of identity theft. FACTA sets out guidelines for which consumer information can be shared and sets parameters for the use, privacy, and accuracy of this information. This amendment to the FCRA entitled consumers to a free…
Identity theft is a very real and serious crime that is rapidly growing. It happens when a person, whether known or unknown, steals your identity and uses your personal information without your knowledge and/or permission to open accounts and borrow money in your name. Identity theft can destroy your financial reputation and can cost both time and money to repair…
The FICO Score is a credit score most lenders use to determine your credit worthiness and whether you are a credit risk, so to speak. Your FICO Score is a number that is calculated by combining pieces of your credit history from your report. This information is grouped into five different categories using percentages to reflect the importance of each…