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Sometimes the credit reports that you get are full of major mistakes. It can cause your credit scores to fall down anywhere from fifty to one hundred points. Because if your credit report contains so many errors it cannot fetch you higher credit scores. You can see at least one major mistake in almost seventy-five percent of the credit reports. Therefore, removal of these errors is very necessary. There are some acts at present. The acts are helping so many customers to improve their credit reports who have suffered from the mistakes in their credit reports. The acts are as follows: Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and Federal Trade Commission (FTC). According to the rules and regulations of these acts, the genuine agencies have proposed to provide the information, which promote the accuracy as well as the integrity to the consumer credit reporting agencies (CRAs or credit bureaus). They have also decided to allow consumers to argue for the incorrect information straight with them. As the customers had no opportunity to modify their inaccurate credit-reports to a perfect credit report by arguing with the furnishers previously, they are getting a chance to build their credit scores higher that too with the help of acts. Customers will definitely be happy, especially who have suffered a lot due to the mistakes in the credit report. They had to be persecuted by employers, creditors, mortgage companies and banking industry professionals when they had no fault of their own. Data furnishers or Customer personal information providers have to build up practical policies and procedures to guarantee that their provided information is precise under the newly proposed rules. The new rules take place when the additional details are needed to keep the information that customer credit reporting agencies offer from generating confusing impressions about a customer who is credit worthy. According to the new rule, customers can directly complaint to the furnishers .They have to investigate the complaint properly according to the acts. At past the customers only could file the dispute with CRA’s. The new rules help the consumers out from this problem. If you are facing problems for the mistakes in your credit report, you can go ahead with a written complaint with the FTC against the consumer credit reporting agencies and data furnisher. You should attach supporting documents, as you have to justify your complaint to them. This will definitely work, as it has been proved following the new regulations for several times. Therefore, if you go through the new rules and regulations thoroughly, you can easily understand how the credit reports are made by the consumer credit reporting agencies. There will not be any chance left for the agencies you are trusting to deceive you. So now, it is the prime time for you to get an error-free credit report and fetch higher credit scores to lead a better financial life.
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