sumer is billed for the subscription on other 
than a monthly basis, within 60 days of receipt 
of the consumer’s notice of cancellation, the 
person shall make a pro rata refund to the con-
sumer of a subscription fee prepaid by the con-
sumer, calculated from the date that the person 
receives the consumer’s notice of cancellation 
until the end of the subscription period.’’. 
(b) CLARIFICATION OF NONEXEMPT STATUS.—Sec-
tion 403(a) of the Credit Repair Organizations Act (15 
U.S.C. 1679a) (as so redesignated by subsection (a) of 
this section) is amended by striking clause (i) of para-
graph (3)(B) and inserting the following new clause: 
‘‘(i) any organization that is not for 
its own profit or for that of its members;’’. 
(c) REVISION OF DISCLOSURE REQUIREMENT.—Sec-
tion 405(a) of the Credit Repair Organizations Act (15 
U.S.C. 1679c) is amended by striking everything after the 
heading of the disclosure statement contained in such sec-
tion and inserting the following new text of the disclosure 
statement: 
‘‘You have a right to dispute inaccurate infor-
mation in your credit report by contacting the credit 
bureau directly. However, neither you nor any ‘cred-
it repair’ company or credit repair organization has 
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the right to have accurate, current, and verifiable in-
formation removed from your credit report. The 
credit bureau must remove accurate, negative infor-
mation from your report only if it is over 7 years 
old. Bankruptcy information can be reported for 10 
years. 
‘‘You have a right to obtain a free copy of your 
credit report once every 12 months from each of the 
nationwide consumer reporting agencies. To request 
your free annual credit report, you may go to 
www.annualcreditreport.com, or call 877–322–8228, 
or complete the Annual Credit Report Request Form 
and mail it to: Annual Credit Report Request Serv-
ice, P.O. Box 105281, Atlanta, GA 30348–5281. 
You can obtain additional copies of your credit re-
port from a credit bureau, for which you may be 
charged a reasonable fee. There is no fee, however, 
if you have been turned down for credit, employ-
ment, insurance, or a rental dwelling because of in-
formation in your credit report within the preceding 
60 days. The credit bureau must provide someone to 
help you interpret the information in your credit file. 
You are entitled to receive a free copy of your credit 
report if you are unemployed and intend to apply for 
employment in the next 60 days, if you are a recipi-
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ent of public welfare assistance, or if you have rea-
son to believe that there is inaccurate information in 
your credit report due to fraud. 
‘‘You have a right to sue a credit repair organi-
zation that violates the Credit Repair Organization 
Act. This law prohibits deceptive practices by credit 
repair organizations. 
‘‘You have the right to cancel your contract 
with any credit repair organization for any reason 
within 3 business days from the date you signed it. 
‘‘Credit bureaus are required to follow reason-
able procedures to ensure that the information they 
report is accurate. However, mistakes may occur. 
‘‘You may, on your own, notify a credit bureau 
in writing that you dispute the accuracy of informa-
tion in your credit file. The credit bureau must then 
reinvestigate and modify or remove inaccurate or in-
complete information. The credit bureau may not 
charge any fee for this service. Any pertinent infor-
mation and copies of all documents you have con-
cerning an error should be given to the credit bu-
reau. 
‘‘If the credit bureau’s reinvestigation does not 
resolve the dispute to your satisfaction, you may 
send a brief statement to the credit bureau, to be 
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kept in your file, explaining why you think the 
record is inaccurate. The credit bureau must include 
a summary of your statement about disputed infor-
mation with any report it issues about you. 
‘‘The Federal Trade Commission regulates 
credit bureaus and credit repair organizations. For 
more information contact: 
‘‘Federal Trade Commission 
‘‘Washington, D.C. 20580 
‘‘1–877–FTC–HELP 
‘‘(877 382–4357) 
‘‘www.ftc.gov’’. 
Æ 
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