The Federal Trade Commission (FTC) enforces the Federal Fair Credit Reporting Act, which sets guidelines for credit reporting, disclosure limits, and protection available to consumer. If credit-reporting agency violates a consumer's right, the FTC may initiate investigation of company, if there are other similar complaints (if warranted); however, the FTC does not mediate individual complaints.
By law, credit reporting agencies can retain negative data on an individual's credit history up to seven years, and information about bankruptcies remains for ten years. A credit repair company cannot remove records or establish a new credit identity for an individual. If a consumer's incorrect credit history has been corrected, a letter should be permanently placed in that file to prove the correction was made.
Federal Trade Commission
Consumer Response Center
600 Pennsylvania Avenue, North West
Washington, DC 20580