NY Credit Report Disclosure
CREDIT REPORT USAGE
Above Lending, Inc. and its Lending Partners will each obtain a consumer credit report from one or more consumer credit reporting agencies and third-party data furnishers to evaluate your application. We may also obtain consumer reports from consumer reporting agencies about you periodically throughout the term of your loan for updates, renewals, extensions of the credit, or other business reasons. Unless the initial application was made before the enactment of this article, you will not receive further notices if additional consumer reports are used for updates or renewals related to your credit. You may request the name and address of each agency used by contacting us at [email protected]. For further assistance in interpreting your credit file, credit reporting agencies must provide trained personnel to help you understand the data and correct any inaccuracies.
YOUR RIGHTS UNDER NEW YORK LAW
Review Your File:
The Federal Fair Credit Reporting Act provides you the right to know what your credit file contains. Under the New York Fair Credit Reporting Act, you are entitled to receive a complete copy of your credit report. Identification will be required, and a small fee may be charged. However, if you have been denied credit, employment, or insurance within the last 30 days due to information in your report, you may receive a copy at no charge.
Dispute Inaccuracies:
Please note that consumer reporting agencies are required to follow reasonable procedures to ensure the accuracy of the information they report. However, mistakes may occur, thus, you can dispute inaccuracies or incomplete information. Once notified in writing, agencies must investigate and rectify any incorrect or incomplete data, free of charge.
If the reinvestigation does not resolve the dispute to your satisfaction, you may enter a statement of one hundred (100) words or less in your file, explaining why you believe the record is inaccurate.
The consumer reporting agency must include a summary or coded version of your statement about disputed data with any report it issues about you. New York law also provides that, at your request, the consumer reporting agency must notify any person who has received a report containing the inaccurate information of the correction.
Time Limits on Data:
Negative information such as late payments, collections, or charge-offs can remain on a consumer's credit report for up to seven years. Bankruptcy is an exception to the typical seven-year limit, allowing for a reporting period of up to ten years.
ADDITIONAL RIGHTS UNDER STATE AND FEDERAL LAW
You may have additional rights under federal or state law regarding consumer protection.
For more information, contact the New York State Department of State, the New York State Attorney General’s Office, the Federal Trade Commission, or your local consumer protection agency.
This notice is not intended as legal advice. It is provided to you as required by law to ensure you understand your rights under New York and federal laws concerning consumer credit information and credit repair or credit services.