When viewing credit restoration laws it is important to decipher whether the law is pertaining to a credit report or the legality of a debt. It is a myth that all consumer debt is owed for seven years. Almost all debt is governed by state statutes and not by federal law. Check the laws within your own state that govern the legalities of debt befor you start any credit improvement.

The following are some of the laws that you should pay close attention to:
Fair Credit Reporting Act (FCRA) - The Fair Credit Reporting Act was enactedapproximately 30 years ago and has had numerous revisions over that time period. FCRA benefits the consumer by putting time restrictions on creditors and credit bureaus to respond to any disputes made by a consumer. If the creditor’s or the credit bureaus fail to respond within the allotted time frame then the credit bureaus must change the credit information in accordance with the consumer’s disputes. This is the basic principal that simple credit repair companies use to fix your credit – “Not very effective in today’s world!”

The FCRA also grants creditors and credit bureaus certain conditions to request additional investigative time periods into a consumers dispute.Furthermore, the FCRA also gives the credit bureaus the option to permanently verify a dispute and never remove it if certain methods weren’t procedurally done by the party disputing the credit item. The FCRA also covers fraud alerts, the statutes of items in dispute for consumer reports, in addition to civil liability of damages for both parties.

Fair and Accurate Credit Transaction Act (FACT Act) came into law several years ago. The FACT Act allows the consumer to receive a credit report annually free of charge.These will not contain credit scores and maybe a little more difficult to decipher. The FACT Act covers rules of “prevention of reinsertion, blocking information due to identity theft, statute of limitations, and credit wholesaler requirements, etc…

Uniform Commercial Code Laws (UCC Laws) - These are the laws that governtransactions that are paid by personal or corporate check. The UCC laws also govern the differences and superseding definitions between contracts and legal agreements.There are many state adaptations and variations to the federal law which cover addendums and legal stipulations when satisfying a debt.

Fair Debt Collection Practices Act (FDCPA) - Is a law that contains procedural rules for third party collectors, consumers and the penalties that may be levied against either party. The FDCPA governs how many times a collector can call a consumer, a consumers place of employment, family members, friends and neighbors. The FDCPA also covers the rules of the assigning of a debt. The FDCPA also notes when state law can override federal law when it comes to collection or credit disputes. The FDCPA covers the rules if a debtor is represented by an attorney that a collection company can not use abusive language, make false threats, and much more.

Equal Credit Protection Act (ECPA) - Contains rules governing when a creditor or collector can report your trade line to the credit bureaus. It also covers if a creditor is obligated or not obligated to report borrowers, co-borrowers, and authorized users on an individual account to the credit bureaus. The ECPA also protects against discrimination for age, race, gender, and religion.

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