Consumers Have a Right to

question 1

Multiple Choice

Consumers have a right to

• A)exclude as obsolete information about a bankruptcy discharge 7 years previously.
• B)know the name of anyone to whom credit information has been supplied by a consumer reporting agency within the last 3 years.
• C)have their own version of a disputed credit situation included in their credit file.
• D)have investigative reports become obsolete after 1 year.

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Definitions:

Incidental Beneficiary

A person or entity who unintentionally gains a benefit from a contract between two other parties, though the contract was not specifically intended for their benefit.

Contractual Rights

Legal entitlements derived from agreements between parties that are enforceable by law.

Creditor Beneficiary

A third party that benefits from a contract made between two other parties, especially when the contract's purpose is to repay a debt or obligation.

Donee Beneficiary

A third party who benefits from a contract between two other parties, especially in cases where the contract is intended as a gift to the third party.