Consumer Credit File Rights Under State and Federal Law

You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any “credit repair” company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.

You have a right to obtain a copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You are entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you are a recipient of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.

You have a right to sue a credit repair organization that violates the Credit Repair Organization Act. This law prohibits deceptive practices by credit repair organizations.

You have the right to cancel your contract with any credit repair organization for any reason within 3 business days from the date you signed it.

Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.

You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not charge any fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the credit bureau.

If the credit bureau’s reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of your statement about disputed information with any report it issues about you.

The Federal Trade Commission regulates credit bureaus and credit repair organizations. For more information contact:

The Public Reference Branch
Federal Trade Commission
Washington, D.C. 20580

Source: Credit Repair Organizations Act, 15 U.S.C. § 1679c.

Additional Information for Texas Consumers

  • Registration and bond. The Credit Specialists LLC is registered with the Texas Secretary of State as a credit services organization and maintains a surety bond as required by Chapter 393 of the Texas Finance Code. If we fail to comply with the law or our contract, you may have the right to proceed against the bond. The name and address of the surety company are provided in your written disclosure statement before you sign.
  • Your right to review your credit file. You may review the information a consumer reporting agency keeps about you. You can get your reports free at AnnualCreditReport.com, and you are entitled to a free report if you have been denied credit based on your report.
  • Your right to dispute directly. You may dispute the completeness or accuracy of any item directly with the consumer reporting agency at no cost.
  • Accurate information cannot be permanently removed. Accurate information cannot be permanently removed from your credit file. Most negative information becomes obsolete after 7 years, and bankruptcies after 10 years. Consumer reporting agencies are prohibited from reporting obsolete information.
  • Nonprofit credit counseling. Nonprofit credit counseling services are available. You can find a nonprofit counselor through the National Foundation for Credit Counseling at NFCC.org or (800) 388-2227.
  • Your right to cancel. You may cancel your contract without penalty or obligation before midnight of the third business day after you sign it. If you cancel, any payment you made will be returned within 10 days after we receive your cancellation notice.

Before You Sign

Before you sign a contract or pay any fee, we give you a written disclosure statement that describes the services we will perform, the total cost, and your rights. We do not guarantee specific results, score increases, or the removal of any item. Results vary based on your credit file and on how the credit bureaus and furnishers respond.

Questions or Complaints

Contact us at support@thecreditspecialists.com or (915) 302-2525. You may also contact the Federal Trade Commission, the Consumer Financial Protection Bureau, or the Texas Attorney General.