Consumer Credit File Rights Under State and Federal Law

At 1st Credit Experts, transparency is a priority. Below are your rights under federal law (CROA) and Nevada state law (NRS 598.741–.787). We provide this so you know exactly what protections you have and how you can dispute information on your own, at no cost, if you choose.

You have a right to obtain a copy of your credit report from a consumer reporting agency. 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 consumer reporting agency 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 dispute inaccurate information by contacting the consumer reporting agency 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 consumer reporting agency must remove accurate, negative information from your report only when it is over seven years old (ten years for bankruptcies).

Accurate information cannot be permanently removed from the credit report of any consumer who has defaulted on a debt. If you have filed for bankruptcy, the bankruptcy may be reported for up to ten years.

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 three (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 consumer reporting agency in writing that you dispute the accuracy of information in your credit file. The consumer reporting agency must then reinvestigate and modify or remove inaccurate or incomplete information. The consumer reporting agency 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 consumer reporting agency.

If the reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the consumer reporting agency, to be kept in your file, explaining why you think the record is inaccurate. The consumer reporting agency 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:
Federal Trade Commission
Bureau of Consumer Protection
Washington, DC 20580

Nevada Consumer Credit File Rights

Under Nevada law (NRS 598.741–.787), you have important rights when working with a Credit Services Organization:

1. Right to Cancel
   • You may cancel your contract with a credit services organization, without penalty or obligation, within three (3) business days after the contract is signed.
2. Right to Written Contract
   • A credit services organization must provide you with a written contract that clearly explains the services to be performed, the terms of payment, and your cancellation rights.
   • The contract must be signed by both you and the organization before any services are performed.
3. No Upfront Fees
   • Credit services organizations may not charge or receive any payment until services have been fully performed.
4. Bond Requirement
   • Credit services organizations operating in Nevada are required to maintain a surety bond with the State of Nevada to protect consumers from fraud or misrepresentation.
5. Your Right to Dispute Information Yourself
   • You may dispute inaccurate or unverifiable information on your credit report directly with the credit reporting agencies at no cost.
   • You do not have to use a credit services organization to exercise your rights.
6. Prohibited Practices
   • A credit services organization may not make false or misleading statements about your credit, guarantee the removal of accurate negative information, or advise you to misrepresent your credit history.

Important Notice
* You may exercise these rights directly with the credit bureaus at no cost.
* You have the right to cancel your contract within three (3) business days.

For more information, or to report a complaint, you may contact:

Nevada Attorney General’s Office
Bureau of Consumer Protection
555 E. Washington Ave., Suite 3900
Las Vegas, NV 89101
Phone: (702) 486-3132