“an item of information disputed by a consumer is found to be inaccurate or incomplete or cannot be verified after any reinvestigation under paragraph (1), for purposes of reporting to a consumer reporting agency only, as appropriate, based on the results of the reinvestigation promptly modify that item of information; delete that item of information; or permanently block the reporting of that item of information.”

This means that Congress gives you the right to audit the accuracy, completeness, and verification of all items in your credit report.

“If a consumer notifies a debt collector in writing that the consumer refuses to pay a debt or that the consumer wishes the debt collector to cease further communication with the consumer, the debt collector shall not communicate further with the consumer with respect to such debt...”

This means that Congress gives you the right to demand creditors stop calling you to collect a debt that you are not paying.

“Consumers have a vital interest in establishing and maintaining their creditworthiness and credit standing in order to obtain and use credit. As a result, consumers who have experienced credit problems may seek assistance from credit repair organizations which offer to improve the credit standing of such consumers.”

This means that Congress gives you the right to hire professional assistance with helping you enforce your credit rights.

“To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit, in evaluating an applicant's creditworthiness a creditor shall consider…On the applicant's request, any information the applicant may present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant's creditworthiness...”

This means that Congress gives you the right to demand that a prospective creditor consider documentation apart from your credit report if such information will prove you are more creditworthy than your credit report indicates.

“The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers.”

This means that Congress gives you the right to receive specific documents and disclosures when engaging in a financial transaction.

“a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a ‘privacy’ notice...”

This means that Congress gives you the right to know who a creditor is sharing your personal information with.

“During the 60-day period beginning on the date of the servicer’s receipt from any borrower of a qualified written request relating to a dispute regarding the borrower’s payments, a servicer may not provide information regarding any overdue payment, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency.”

This means that Congress gives you the right to protect your credit rating during a dispute with a mortgage lender.

“a creditor or his agent may not directly or indirectly threaten to report to any person adversely on the obligor's credit rating or credit standing because of the obligor's failure to pay the amount indicated by the obligor under section 161(a) (2) and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 161 and has allowed the obligor the same number of days (not less than ten) thereafter to make payment as is provided under the credit agreement with the obligor for the payment of undisputed amounts.”

This means that Congress gives you the right to dispute an inaccurate item on a bill and while such an item is in dispute your credit report cannot be negatively affected.

“…in a credit plan in which a security interest is or will be retained or acquired in a consumer's principal dwelling,… The consumer may exercise the right to rescind until midnight of the third business day following the occurrence described in paragraph (a)(1) of this section… ’however’ if the required notice and material disclosures are not delivered, the right to rescind shall expire 3 years after the occurrence giving rise to the right of rescission, or upon transfer of all of the consumer's interest in the property, or upon sale of the property, whichever occurs first.”

This means that Congress gives you the right to rescind a loan you have made which is secured by your home for up to three years under certain circumstances.