Credit Repair - Your Rights

Many institutions are busy at work profiling consumers and offering them pre-approved credit.   The most common form of this profiling comes in the form of a zero-percent pre-approved credit card mailing.

A letter appears in the mail telling the consumer that they have been approved for a new credit card with a low interest rate.   It is these types of mailings that in some cases convince a consumer that their credit must be improving since they have received the offer.
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There are countless laws put in place at both a federal and state level to protect the rights of the every day consumer.   These laws are expected to be followed and obeyed by every creditor.  In the case that a creditor crosses the line and does in fact violate your rights, you will want to take necessary action against them.
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YES Debt does have an expiration date as explained clearly in the statute of limitations debt laws in the fair debt collection act! However, many creditors and/or businesses will pass your debt from one debt collector to another in order to put fresh eyes on the case. A debt that you had ten years ago could resurface and a new collector could step out of the shadows and attempt to collect it.
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How do the statute of limitations apply to your debt? When it comes to your credit and debt owed, you may receive a threatening letter in the mail, that informs you of a debt from your past that has not received payment.  The letter may state that the collector is now going to take legal action against you and file suit if the debt is not paid.
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When it comes to repairing your credit, there might come a time that you wish to contact your state attorney for assistance. A state attorney is an elected official who serves two or more years in the position, and serves as a legal advisor within their elected state. Every state has such an attorney, and they are responsible for protecting consumers, like yourself, from fraud.
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