Next Step Financial Solutions LLC
177 E Faust St Ste. A
New BraunfelsTX 78130

FAQ

Next Step Financial Solutions LLC |177 E Faust St Ste. ANew BraunfelsTX78130 | (830) 582-6400

Frequently Asked Questions

What is the Fair Credit Reporting Act (FCRA)?

According to the Federal Trade Commission, the FCRA "promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records)."

In a nutshell, this means that:

  • You must be told if information in your file has been used against you.
  • You have the right to know what is in your file.
  • You have the right to ask for a credit score.
  • You have the right to dispute incomplete or inaccurate information.
  • Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information.
  • Consumer reporting agencies may not report outdated negative information.
  • Access to your file is limited.
  • You must give your consent for reports to be provided to employers.
  • You may limit "prescreened" offers of credit and insurance you get based on information in your credit report.
  • Consumers have the right to obtain a security freeze.
  • You may seek damages from violators.

 

What is the Fair Debt Collection Practices Act (FDCPA)?

According to the FTC, the FDCPA "makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect debts."

Types of debt covered under the law include:

  • Credit Card Debt
  • Auto Loans
  • Medical Bills
  • Student Loans
  • Mortgage
  • Other Household Debts

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