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Statute of Limitations There are State, and Federal statutes which describe the time periods that are allowed regarding specific legal actions. Depending on the topic of damage, those related to credit damage include: - The Fair Credit Reporting Act (FCRA) - The Fair and Accurate Credit Transactions Act (FACTA) - The Fair Debt Collections Practices Act (FDCPA) And others If the damage/injury happened to you within the past seven years, you may be entitled to compensation for your damage. It is the statute of limitations that determines who long a person has to file a complaint. It is not necessary to have perfect credit before being victimized. You must take action to protect your rights within two years of finding out about the problem - especially if it appears in any of your credit report(s). |