Consumer Laws


It’s time you know your rights & why this is critical to building your solid financial future.

The Fair Credit Reporting Act (FCRA) is a federal law enacted in 1970 that governs and regulates how consumer reporting agencies use your information and who has access to such information.  This FCRA has slowly grown over the last four decades, buts its intent remains the same: to protect the privacy and integrity of an individual’s information as well as creating guidelines that govern what information a credit bureau can and cannot report.  If a violation of the law occurs by any of the bureaus, the law provides an individual with remedies to gain compensation against a violating consumer reporting agency. A consumer reporting agency, under the broadest sense, encompasses credit bureaus and any company or person who collects and sells your credit information to a third party looking to decide about you based on your credit.



The good news is, that under the FCRA, consumers have the following rights against credit reporting agencies’ abuses of your information.

  1. A consumer shall have access to one free credit report per year,
  2. A consumer may request their credit score from the bureaus, but there is generally a fee attached,
  3. Consumers have the right to know what is in their file, thereby giving you the ability to investigate and dispute credit information on your file,
  4. A consumer can correct or delete any inaccurate, incomplete, or unverifiable information within 30 days of the credit reporting agency’s receiving notice of a consumer’s dispute,
  5. Credit reporting agencies must refrain from reporting credit information that is more than 7 years old, and 10 year for bankruptcies,
  6. The FCRA limits who can request a credit report from the bureaus, and 
  7. If an employer wants to gather your credit information, the consumer must consent before an investigation.

Information Suppliers

Aside from the guidelines of what can be reported and how to dispute such information, the FCRA also regulates how information suppliers – also known as your creditors – report information.  They must not report anything they have reasonable cause to be inaccurate.  They have a duty to promptly update any inaccurate information they’ve previously supplied.


If a credit reporting agency, information supplier or user violate the FCRA, the statute allows an individual to pursue damages in both state and federal court. 

How Does the FCRA Help?

The FCRA is a wonderful tool that protects consumers and promotes fairness, accuracy and privacy, if used properly.  By leveraging the guidelines and rules in the FCRA, credit resolution companies, like Integrated Loan Assistance can provide great benefits to individual consumers.  Although the FCRA has guidelines that can be used by the consumer individually, most credit repair companies have methods and practices that abide by the FCRA’s investigation guidelines.  

Integrated Loan Assistance (ILA) has created a process that carefully follows the guidelines of the FCRA to resolve these issues and clear your credit profile of any erroneous errors.  

ILA has helped thousands of clients remove inaccurate and damaging information from credit reports of all three agencies – Equifax, Transunion, and Experian – thereby increasing a consumer’s credit score.