Credit Repair Law and Legal Definition

The Fair Credit Reporting Act is a federal statute, enacted in 1970 to protect the rights of consumers, and regulate the practices of those who provide information to the credit reporting agencies, the agencies themselves and credit report users. The FCRA states that a consumer can make a legal claim against, and sue the credit reporting agencies, creditors and debt collectors who report information that is wrong. The Fair Credit Reporting Act offers specific consumer protections if you have been victimized by the crime of identity theft.

No one can legally remove accurate and timely negative information from a credit report. However, the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. In some cases, a court judgment against someone may be removed from a credit report. For example, the judgment may have expired under the state statute of limitations, which vary by state. Some states don’t provide for a judgment to be renewed. The credit bureau has 30 days to verify the accuracy of an item. If the court does not verify the judgment within 30 days, the credit bureau will delete it.