Credit Reports

This section of PALawHelp.org has information and resources about Credit Report issues in Pennsylvania.

Credit Reports & Credit Discrimination

ACROSS THE country, there are credit reporting agencies (often called credit bureaus) which report on people's credit ratings. These businesses are allowed to do so, but federal law (the Fair Credit Reporting Act) controls how far they can go in their investigations and reports.

When can a report on my credit rating be given?

Your credit report is private. It can only be given out: 

• in response to a court order; 

• at your request; 

• if you have asked for credit; 

• for employment purposes, if you give written permission; or 

• if it is part of a business transaction or a request for insurance or for a governmental license. 

If a person or business denies you credit, insurance, or employment, or increases your cost for credit or insurance, because of a credit report, it must tell you that the credit report is the reason. It also must give you the name and address and phone number of the credit reporting agency that gave it the report. 

How far back can a credit report go?

With some exceptions, credit reports cannot go back more than seven years. A bankruptcy filing, however, can stay on your credit report for up to 10 years. 

Can I find out what is on my credit report?

Yes. With some exceptions, you have the right to be told:

• what information (except medical information) is in your files;
• the sources of the information;
• a list of the people who have received or made inquiries about your credit report within the past six months (and of employers who have received it within the last two years.

You can get this information by phone or in person, or (in most cases) by mail. The credit reporting agency must give you this information free if you request it within 60 days after you have been denied credit or some other benefit.

You can get a free annual copy of your credit report from each of the three nationwide consumer reporting companies - Equifax, Experian, and TransUnion. The free reports are provided for in The Fair and Accurate Credit Transactions Act of 2003 (FACTA), which requires the nationwide credit bureaus to provide consumers with a free copy of their credit report, at their request, once every 12 months. Consumers who want to access their credit report online can go to www.annualcreditreport.com.

What if I disagree with the report?

If you think that there is false or inaccurate information in your credit report, you can take the following steps: 

1. Tell the credit reporting agency that you disagree with the information, and why. It is best to do this in writing and keep a copy of your letter. The agency must investigate your claim (unless your dispute is frivolous), and, if it agrees with you, correct the report. 

2. If, after investigating, the credit reporting agency thinks its report about you is accurate, you have the right to make a written statement explaining your side of the story. You should be brief and stick to the facts, rather than using the statement as a way to get even with a creditor you have problems with. The credit reporting agency can limit your statement to 100 words. Whenever your credit report is requested by anyone in the future, it must include your statement, unless your statement is frivolous or irrelevant. 

If your credit record is accurate but you would like to include information about other debts you have paid, such as rent and utility bills, you should contact your local credit bureau and arrange to give them this information. This could improve your credit record. 

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