Credit Laws

Credit Repair Information
When one has decided to fix their credit, they have begun a journey that in some cases can be a very long and frustrating process to accomplish.  There are many credit laws in place to protect your worthiness of credit.  Knowing how to maximize your rights under these laws and how to reestablish good credit scores is where Allstate Business Consultants will be of best value to you!  

Are you ready to take charge of your credit?
Taking the first step in a total new direction!

We understand what it takes to fight inaccuracies within your credit reports!  Allstate Business Consultants is Attorney Owned and operated, and our extensive credit knowledge is standing behind you every step of the way.

The Fair Credit Reporting Act
The Fair Credit Reporting Act was set in place to protect consumer’s credit rights.  We have provided a link to the complete FCRA (Fair Credit Reporting Act) for your review.  When times get hard, and debt tends to go unpaid, the FCRA can be one of your best tools to fight back!

 

The Fair Debt Collections Practices Act
The Fair Debt Collections Practices Act was set in place to protect consumers from unscrupulous debt collectors.  We have provided a link to the complete FDCPA (Fair Debt Collections Practices Act) for your review.  When times get hard, and debt tends to go unpaid, the FDCPA can be one of your best tools to fight back!

 

The Fair Credit Billing Act
 

The Fair and Accurate Credit Transactions Act

 

Collection Agencies:

When you are dealing with collection agencies it is best to be fully educated on your rights under FDCPA and FCRA law.
Collection agencies are known for violating these laws, and reporting inaccurate information to the credit reporting agencies.   If you have received a letter from a debt collection or law firm collecting a debt, DO NOT JUST THROW THIS LETTER AWAY!  This is one of the main reasons that these collection agencies appear on the credit report in the first place.  This does not mean that you do not owe this debt, or are not under a moral obligation to pay a debt that you actually incurred.  This simply means that
Inaccurately reported collections can dramatically lower your credit scores.  It is important to check your credit reports thoroughly about 3 times yearly to avoid inaccurately reported items.

If you receive a letter from a collection agency:

1. Check all three of your credit reports to see if the debt in question is reporting on any of your credit reports.
2. Whether the debt in question is owed or not owed, you should send a letter to have the collection agency validate the debt under FDCPA Sec. 809     It is important to send this letter certified, return receipt requested.