Under the Fair Credit Reporting Act, a consumer reporting agency, on request by and proper identification of the consumer, must clearly and accurately disclose to the consumer:
the nature and substance of certain information in its files on the consumer;
the sources of most of that information;
the recipients of any consumer report on the consumer furnished for employment purposes within the two-year period preceding the request, and for any other purpose within the one-year period preceding the request;
the dates, original payees, and amounts of any checks on which is based any adverse characterization of the consumer, included in the file at the time of the disclosure; and
a record of all inquiries received by the agency during the one-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.
The "Oregon Request for Disclosure Regarding Nature and Substance of Files of Consumer Reporting Agency" is a legal document designed to provide individuals in Oregon the ability to obtain information about their consumer credit file. This request is in accordance with the Fair Credit Reporting Act (FCRA) and can be used to access various details regarding the nature and substance of their files held by consumer reporting agencies. Consumer reporting agencies, commonly known as credit bureaus, compile and maintain credit reports containing information about an individual's credit history. These reports are crucial when applying for loans, credit cards, or even for rental applications. The Request for Disclosure allows consumers to review and verify the accuracy of their credit information. Key elements of the Oregon Request for Disclosure include: 1. Identification Information: This section requires the consumer to provide their full name, current address, social security number, and other relevant identifying details necessary for the specific consumer reporting agency to locate their file accurately. 2. Specific Requests for Information: Consumers can customize their request to focus on specific areas of interest within their credit file. For example, they may request information related to outstanding debts, public records (such as bankruptcies or tax liens), credit inquiries, or any adverse actions taken by creditors. 3. Additional Information or Disputes: This section allows individuals to include any additional information that may assist the consumer reporting agency in locating their file, as well as the ability to dispute or correct any inaccuracies found within the consumer credit report. Different types of Oregon Requests for Disclosure may include: 1. General Request for Disclosure: This is the standard request where individuals seek comprehensive information about their credit file, covering all aspects such as credit history, public records, and inquiries. 2. Targeted Request for Disclosure: Some individuals may have specific knowledge or concerns regarding certain entries or sections of their credit file. In this case, they can narrow down their request by specifying particular aspects they want to scrutinize. 3. Annual or Periodic Request for Disclosure: Consumers may opt to inspect their credit information on a regular basis. They exercise their right to request this information annually or at certain intervals to ensure the accuracy of their credit report over time. It is important to note that consumer reporting agencies have a legal obligation to respond to these requests within a reasonable timeframe, typically 30 days, as mandated by the FCRA. By utilizing the Oregon Request for Disclosure Regarding Nature and Substance of Files of Consumer Reporting Agency, consumers can maintain control over their credit information, rectify any inaccuracies, and safeguard themselves against potential identity theft or credit-related issues.
