Credit Bureaus Settlement: Consumer Assistance Plan Overview
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Credit reporting errors can severely impact individuals' lives, leading to numerous complaints against credit bureaus and their data furnishers. The National Consumer Assistance Plan (NCAP) emerged from a multi-state settlement to enforce changes favoring consumers, such as providing an additional free credit report upon successful disputes, updating medical collection reporting, and enhancing dispute resolution with specialized personnel. The Fair Credit Reporting Act (FCRA) supports consumers' rights to dispute inaccuracies, and professional credit services can assist in the process.
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