You and Your Money
ACA International Reminds Consumers to Check Credit Report Annually (BILINGUAL)
Photo: Credit Reports
ACA International, the Association of Credit and Collection professionals, encourages consumers to check their credit report for accuracy at least once per year to identify and correct errors, and spot signs of identity theft.
“Accuracy is paramount and consumers can find errors on their credit report that negatively impact their credit score or ability to get credit. Closely monitoring your credit report is vitally important to being an informed and active consumer,” said ACA General Counsel and Vice President of Legal and Government Affairs Valerie Hayes.
Under both the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA), consumers have federally protected rights including:
* The opportunity to obtain one free credit report per year (AnnualCreditReport.com) - not to be confused with a consumer credit score. The credit report provides an overview of a consumer’s credit history but does not contain a credit score, which is a numerical value of the credit report that can be purchased through a consumer reporting agency (such as Equifax, Experian or TransUnion).
* The ability to dispute information provided to a consumer reporting agency about a debt you owe (or have been alleged to owe). If your dispute is valid, the information in your credit report must be corrected or deleted accordingly.
* The ability to dispute a debt or any portion of a debt that a debt collector claims you owe by filing a dispute under the Fair Debt Collection Practices Act (FDCPA). If you believe the debt amount is wrong or that the debt does not exist or never has existed, contact the debt collector and they will be required to mark that debt as disputed if it is being reported to consumer reporting agencies.
For more information about consumer rights in credit reporting, visit www.AskDoctorDebt.com, a valuable consumer-focused financial literacy resource created by the non-profit ACA International Education Foundation. Available in both English and Spanish, visitors are not asked to register, provide any personal information or required to pay to use www.AskDoctorDebt.com.
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members worldwide, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA International establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers. For more information about ACA International, visit www.acainternational.org.
Contact: Mark Schiffman, PR Director, Tel. (952) 928-8000 Ext. 124, Schiffman@acainternational.org
SOURCE: ACA International