Credit Insider Guide to three laws of credit repair
There is more to credit than the Fair Credit Reporting Act.
Legal basis: the FCBA. The Fair Credit Billing Act requires creditors to bill correctly and completely, and it's the FTC's job to make sure that the statute is universally applied. As you read the list of requirements the FCBA stipulates, just consider the credit repair possibilities.
The FTC summarizes the statute's prohibitions as follows: "unauthorized charges; charges that list the wrong date or amount; charges for goods and services you didn't accept or weren't delivered as agreed; math errors; failure to post payments and other credits, such as returns; failure to send bills to your current address -- provided the creditor receives your change of address, in writing, at least 20 days before the billing period ends; and charges for which you ask for an explanation or written proof of purchase along with a claimed error or request for clarification."
Even better, while original creditors aren't bound by the FDCPA (which, to review, applies to collection agencies), they are similarly bound by the FCBA. Case law (example: Nelson v. Chase Manhattan) obligates original creditors to assume responsibility for incorrect reporting and for the illegal activities of affiliated third-party debt collectors.
If that isn't a credit report repair bonanza, then I don't know what is. Again, further explication is beyond this introductory article's horizon, but additional information and assistance is available on internet discussion boards frequented by credit addicts, from your local attorney, or from affordable consumer law firms like Lexington.