|§ 8-35-2||Security freeze on credit report|
|§ 8-35-3||Notice of rights|
Terms Used In Alabama Code > Title 8 > Chapter 35 - Consumer Credit Report Security Freeze
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- consumer: A natural person residing in this state. See Alabama Code 8-35-1
- CONSUMER CREDIT REPORT: A consumer report, as defined in 15 U. See Alabama Code 8-35-1
- CONSUMER CREDIT REPORTING AGENCY: Any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer credit reports to third parties. See Alabama Code 8-35-1
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- NORMAL BUSINESS HOURS: Any day between the hours of 8:00 A. See Alabama Code 8-35-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: Any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. See Alabama Code 8-35-1
- PROPER IDENTIFICATION: Information generally deemed sufficient to identify a person for consumer reporting agency purposes under 15 U. See Alabama Code 8-35-1
- SECURITY FREEZE: A restriction placed on a consumer credit report at the request of the consumer that prohibits a consumer credit reporting agency from releasing the consumer's consumer credit report for a purpose relating to the extension of credit without the express authorization of the consumer. See Alabama Code 8-35-1
- subscription: include a mark when the person cannot write, if his name is written near the mark, and witnessed by a person who writes his own name as a witness, and include with respect to corporate securities facsimile signature placed upon any instrument or writing with intent to execute or authenticate such instrument or writing. See Alabama Code 1-1-1