Information Contained in Credit Reports Learn what your consumer credit report contains according to the Fair Credit Reporting Act.Requirements relating to information contained in consumer reports: Section 1681cInformation excluded from consumer reportsExempted casesRunning of the reporting periodInformation required to be disclosed:An indication of the closure of account by a consumer:An indication of a dispute by a consumer:Up(a) Information excluded from consumer reportsExcept as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:(1) cases under title 11 of the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than ten years.(2) Civil suits, civil judgments, and records of arrest that, from date of entry, antedate the report by more than seven years or until the governing statute of limitations have expired, whichever is the longer period.(3) Paid tax liens which, from date of payment, antedate the report by more than seven years.(4) Accounts placed for collection or charged to profit and loss, which antedate the report by more than seven years.(5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years.Up(b) Exempted casesThe provisions of subsection (a) of this section are not applicable in the case of any consumer credit report to be used in connection with –(1) a credit transaction involving, or which may reasonably be expected to involve, a principal amount of $150,000 or more;(2) the underwriting of life insurance involving, or which may reasonably be expected to involve, a face amount of $150,000 or more; or(3) the employment of any individual at an annual salary which equals, or which may reasonably be expected to equal $75,000, or more.Up(c) Running of the reporting period(1) In general, the 7-year Statute of Limitations on Credit Report Information! referred to in paragraphs (4) and (6) of subsection (a) of this section shall begin, concerning any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180 days beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.(2) Effective date: Paragraph (1) shall apply only to items of information added to the file of a consumer on or after the date that is 455 days after September 30, 1996.Up(d) Information required to be disclosed:Any consumer reporting agency that furnishes a consumer report that contains information regarding any case involving the consumer that arises under title 11 shall include in the report an identification of the chapter of such title 11 under which such case arises if provided by the source of information. If any case arising or filed under title 11is withdrawn by the consumer before a final judgment, the consumer reporting agency shall include in the report that such case or filing was withdrawn upon receipt of documentation certifying such withdrawal.Up(e) Indication of closure of account by a consumer:If a consumer reporting agency is notified according to section 1681s-2(a)(4) of this title that the consumer voluntarily closed a credit account of a consumer, the agency shall indicate that fact in any consumer report that includes information related to the account.Up(f) Indication of dispute by a consumer:If a consumer reporting agency is notified according to section 1681s-2(a)(3) of this title that the consumer disputes information regarding a consumer who was furnished to the agency, the agency shall indicate that fact in each consumer report that includes the disputed information.