The Fair Credit Reporting Act is a law that limits how your credit information is used by credit reporting agencies. Designed to protect and preserve the integrity of your credit information, the FCRA requires that all information that is reported is fair, accurate and private. The FCRA also ensures that you have access to your report and can correct inaccuracies or seek remedy if your rights are violated.
There are several options for dealing with excessive debt, but one of the most effective is bankruptcy. Bankruptcy is a process in which your debts are discharged at the end of the program. If you’re eligible for Chapter 7 bankruptcy according to the means test, most or all of your unsecured debts can be discharged. In Chapter 13 bankruptcy, you’ll have the opportunity to pay off some or all of your debts during a three to five-year repayment program. Any remaining debts after the program may be eligible for discharge. Bankruptcy does affect your credit score for a period, but it can provide dramatic debt relief as well as the protection of the courts from further creditor actions.
Consumer Litigation Defense
Millions of Americans are in debt crises, and a substantial number of them are dealing with debt collectors, creditor harassment and litigation. If you’ve received a summons or been notified that a creditor is taking legal action against you, you need experienced representation. The attorneys at Monarch Legal Group have the skill and experience to fight for your rights, mount a defense and protect your property. Contact us today to schedule a consultation or learn more.