Maintain your old Siemens Hipath system

7 Consumer Credit Laws You Should Know if You are Trying to Repair Your Credit

There are seven consumer credit laws you should be aware when dealing with your credit.

1. The Truth in Lending Act

The customer had to be told the true cost of borrowing, so they could figure out exactly what the charges would be. You must be informed, in writing of the finance charge and the APR before you sign any contract. Also, you need to be informed of the method they are going to use to calculate the balance on which you pay a finance charge.

This Act gives you a chance to change your mind when you use your home as security in a transaction. The first 3 day right of rescission gives you 3 business days to cancel the transaction and the creditor must give you this notice prior to the transaction.

2. The Fair Credit Reporting Act

Check other bonus material for your rights. Basically this act regulates the activities of credit reporting agencies or credit bureaus and gives the FTC responsibility for enforcement.

3. The Fair Credit Billing Act

This law establishes procedures requiring creditors to promptly correct billing errors, and allows the consumer to withhold payment on damage goods, and makes creditors promptly credit your payments.

4. The Fair Debt Collection Practices Act

This act establishes the guidelines for collectors to follow. They may not contact you at unreasonable times or places. Unless agree, they must not contact you before 8 am or after 9 pm, nor at your place of employment. You must receive a written explanation of your supposed debt and what to do if you feel you do not owe the money.

5. The Equal Credit Opportunity Act

This Law prohibits discrimination in the granting of credit of any form due to sex, marital status, race, religion or age.

6. The Electronic Funds Transfer Act

This act gives protection in all stages of modern banking techniques such ATM, telephone transfers, computer transactions, etc. Its limits for the first time consumers' liability for lost or unauthorized use of debit or electronic cards are similar to those in place for credit cards.

Notifying the bank within 2 days, your maximum liability is $50. If you miss that timeframe, you could be liable up to $500 in charges. After 60 days, you'll be liable for the entire amount.

7. The Credit Repair Organization Act

This law states that the credit repair organizations could not make a statement that was misleading. They were prohibited from advising their clients to make a misleading or untrue statement to a credit bureau.

This law gives the consumer 3 day right of cancellation, which needs to be on the contract and must direct you on how to cancel. The document must detail the services that will be provided, guarantees, time frame for service and cost for the consumer.

Copyright © 2005 ExcellentCreditNow.com - All Rights Reserved

Carmen Shearer is the President and CEO of S&S Financial Solutions. She has worked in the finance arena for over 10 years and holds two engineering degrees and an MBA from a branch of Harvard Business School. S&S Financial Solutions offers you credit repair tools, debt elimintation programs and personal financial information with a 90 days guarantee. For more credit related information go to: http://www.excellentcreditnow.com or for how to eliminate your debt go to http://www.excellentcreditnow.com/NoMoreDebt .com

In The News:

14 Americans allowed on flight after testing positive for COVID-19 on way to airport
Mon, 17 Feb 2020 01:27:00 +0000
Fourteen US citizens who were evacuated from a quarantined cruise ship have been flown home - despite being found to have COVID-19 on the way to the airport.

Britons quarantined on cruise ship over coronavirus angry over 'inaction'
Sun, 16 Feb 2020 10:21:00 +0000
A British couple in quarantine on board a cruise ship in Japan have begged British authorities to get them home, as coronavirus cases on board the Diamond Princess rise.

Japan on brink of recession as coronavirus impact bites
Mon, 17 Feb 2020 09:08:00 +0000
The Japanese economy shrank at its fastest pace in more than five years at the end of 2019 - putting it on the brink of recession as the impact of the coronavirus begins to bite.

UK and EU will 'rip each other apart' in talks, France predicts
Mon, 17 Feb 2020 05:10:00 +0000
Prime Minister Boris Johnson has been warned that he will face a tough battle with the European Union in his efforts to secure a trade deal in the aftermath of Brexit.

Elton John in tears after ending show early due to walking pneumonia
Sun, 16 Feb 2020 11:29:00 +0000
Veteran performer Elton John has apologised to fans for cutting a gig short in New Zealand, after being diagnosed with walking pneumonia.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Credit Repair Myths and Facts

There are no secrets to repairing your credit. Many shady... Read More

4 Steps to Creating Good Credit

As a consumer you've learned the importance of establishing a... Read More

Beat Credit Card Companies at Their Own Game!

Have you ever wondered how much money a credit card... Read More

Credit Cards -- What You Should Know

There are a lot of questions about using credit cards.... Read More

The Truth About Credit

What you might not know about credit.Some people don't know... Read More

Credit Cards For People With Bad Credit Scores

Sometimes life lands you in a situation that causes your... Read More

How to Avoid Credit Card Late Fees

Everyone hates late fees and being late will cost you... Read More

Ten Steps To Building A Good Credit History

Are you thinking of buying a house? Do you want... Read More

Collection Agencies: What Do They Do?

Collection agencies are businesses that collect past-due bills and accounts... Read More

Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums

Did you know that you could make sure to get... Read More

SuperCharged Secret 4, Credit Card Utopia

YOU SCRATCH MY BACK, AND I'LL BUY SOME MORE BEER!Let's... Read More

Negotiating Rates with Your Credit Card Company

Ok, let's face it, everybody hates high credit card rates,... Read More

Useful Tips On Avoiding Credit and Charge Card Fraud

Credit and charge card fraud costs cardholders and issuers hundreds... Read More

Free Credit Reports - How to Maintain Your Credit Profile

Maintaining your Credit ProfileEvery consumer should be maintaining their credit... Read More

Identity Theft : They Got Him

His hard earned money? Gone. Creditors on his back everyday.... Read More

Student Credit Cards

STUDENT CREDIT CARDS With graduate debt averaging... Read More

7 Surefire Ways To Repair Bad Credit

Do you have a poor credit rating? If so, you... Read More

Credit Card Balance Transfers Explained

What is a balance transfer ? A balance transfer can... Read More

Beginners Guide to Credit

I remember back when I was 18 and completely oblivious... Read More

First Major Regulatory and Legislative Victory of 2005 for Creditors and Consumers

Under the Fair Debt Collection Practices Act, collectors are not... Read More

Understanding Your Credit Score

When you apply for credit one of the first things... Read More

Credit and Its Cost

What is Credit? Credit is money granted by a lender... Read More

Bank Robbery Growing In U.S.

Bank robbery has grown to become a huge problem in... Read More

Cash Advance ? How Does It Work?

If you want a cash advance or a payday/paycheck loan,... Read More

Rebuild Your Credit the Right Way the First Time

If you are one of the millions of people out... Read More