Consumer Protection Notice
Required Disclosures under Texas Finance Code § 393.105 & Federal Consumer Statutes
State of Texas Credit Services Organization Disclosure
Tex. Fin. Code Ann. § 393.105 (Notice of Consumer Rights)
Before you execute a contract or pay any consideration to a credit services organization, Texas law requires that you receive the following disclosure statement:
- You have the right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any “credit repair” company or credit services organization has the right to have accurate, current, and verifiable information removed from your credit report.
- The credit bureau must remove accurate, negative information from your credit report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.
- You have a right to obtain a copy of your credit report directly from a consumer credit reporting agency. You are entitled to a free report under federal law once every 12 months from each nationwide agency at www.annualcreditreport.com.
- You may obtain a copy of your credit report free of charge if you have been denied credit, employment, or insurance within the past 60 days, or if you are unemployed and intend to apply for employment, are receiving public welfare assistance, or believe your file contains errors due to fraud.
- A credit services organization must maintain a surety bond or established trust account filed with the Texas Secretary of State. You have the right to sue a credit services organization that violates the Texas Credit Services Organizations Act.
Texas Secretary of State Registration & Surety Security
Bright Future Financial Group is registered with the Secretary of State of Texas pursuant to Texas Finance Code Chapter 393. Registration does not constitute approval or endorsement by the State of Texas or any governmental regulatory body.
Federal Fair Credit Reporting Act (FCRA) Summary
The federal Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. Your major rights under the FCRA include:
- You must be told if information in your file has been used against you: Anyone who denies credit, insurance, or employment based on your report must provide you the name, address, and phone number of the agency that provided the report.
- You have the right to know what is in your file: You may request and obtain all information about you in the files of a consumer reporting agency.
- You have the right to ask for a credit score: You may request credit scores from consumer reporting agencies (fees may apply under specific federal schedules).
- You have the right to dispute incomplete or inaccurate information: If you identify information that is incomplete or inaccurate, and report it to the agency, the agency must investigate unless your dispute is frivolous.
- Consumer reporting agencies must correct or delete inaccurate information: Incomplete, inaccurate, or unverifiable information must be removed or corrected, usually within 30 days.
Bright Future Financial Group does not guarantee any specific credit score, tradeline deletion, or approval for any loan product. We are an educational and advisory organization, not an attorney, law firm, or depository institution. If you suspect credit reporting violations, you have the right to consult an independent consumer law attorney or file a complaint with the Consumer Financial Protection Bureau (CFPB) at www.consumerfinance.gov or the Texas Attorney General at www.texasattorneygeneral.gov.