Credit Report Problems

Credit Report Problems

The Fair Credit Reporting Act in Colorado

CRS 12-14-3-105.3(1)e provides that no credit reporting agency shall report an arrest or conviction beyond 7 years unless the job sought pays in excess of $75,000.  This law was enacted January 1, 1996 and we are of the opinion that it is therefore effective.  

Colorado also has the Employment Opportunity Act (8-2-126) which provides that employers may not request a prospective or current employee's credit report, or use consumer credit information for employment purposes, unless: (1) the credit information is "substantially related" to the employee’s current or potential job, or (2) the person being evaluated or the employer are exempt from the law.  The law does NOT apply to banks and financial institutions, State or local law enforcement agencies, employers of private domestic servants or farm or ranch labor, and employers who employ less than 4 people.

Contact SmithMarco, P.C., Today

If you have an error or inaccurate information on your credit report, there are actions that you can take. Contact SmithMarco, P.C., today for a completely free case review.