Know Your Rights Before Beginning Any Consumer Debt Consolidation or Repair Service

Truth In Lending Act

Mandates the disclosure of cost requirements for the annual percentage rate and finance charges.

Requires loan terms and conditions to be disclosed.

Regulates how credit terms are advertised.

Prohibits sending unrequested credit cards by card issuers.

Limits the liability of unauthorized use to $50 per card for the card holder.

Fair Credit Reporting Act

Requires the disclosure of the name and address of any consumer reporting agency which provides credit reports used to deny credit, insurance or employment.

Provides the consumer with the right to know what is in his/her file, have incorrect information investigated, and allows the consumer to include a 100-word statement in the file explaining the financial situation.

Specifies that when an investigation or information request is made of a credit file, the consumer be notified.

Limits the time credit information may be maintained in a file.

Equal Credit Opportunity Act

Prohibits creditors from discriminating against credit applications (for items like mortgages, consumer debt consolidation loans, auto/personal loans, etc.) based on sex, race, marital status, national origin, religion, age, or the receipt of public assistance.

Prohibits the reapplication for existing credit because there has been a change in marital status.

Understand your rights before entering into any consumer debt consolidation loan or program. At Consumer Credit Debt Consolidation Online, we do not believe in consumer debt consolidation loans; instead, our debt analysts will help work with your creditors to lower your payments and interest rates. It's that easy and it doesn't put you in more debt, as consumer debt consolidation loans may end up doing, with all of the "extra" fees attached to it.