Atlas Law Firm

The Fair Credit Reporting Act and you


Many individuals in Minnesota and around the country are unaware of their credit scores, let alone the fact that they have a number of rights when it comes to keeping the information on these documents private and accurate.


Many individuals in Minnesota and around the country are unaware of their credit scores, let alone the fact that they have a number of rights when it comes to keeping the information on these documents private and accurate.

The Fair Credit Reporting Act (FCRA) was originally passed by Congress in 1970, with the intention of helping to protect consumers from suffering from incorrect information on or illegal access to their credit reports.

As part of the FCRA, you have the ability to dispute errors in your credit report, from debts incurred to demographic information or personal history. This is an especially important feature of the law. According to a study conducted by the California Public Interest Research Group, nearly 80 percent of credit reports contained at least one error.

Minnesota residents also have the right to know who has accessed their credit reports, especially if the information was used against them in any way – whether in the denial of a loan or insurance coverage.

Your credit report is also protected by FCRA from public access. Only those with a “valid need” to view your score will be granted access to it, such as landlords, insurers or other creditors. Similarly, this act gives you the ability to grant access for your current or potential employer to view your report. You have every right to prevent them from viewing it.

If you feel that you have been subjected to a violation of this law, you can seek recourse with the Federal Trade Commission, which enforces the FCRA, or an attorney.

It's important for individuals who have filed or are considering filing for bankruptcy to closely monitor their credit reports for errors. An experienced Minneapolis bankruptcy lawyer can help you review your report and determine the best course of action for you and your family.

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