Fair Credit Reporting Act (FCRA) Attorneys
Fighting Credit Reporting Inaccuracies Nationwide
If your credit report isn’t entirely accurate, you’re not alone.
One large study found errors on about 25% of consumer credit reports.
Many people never know those errors or false reports are there until they
apply for credit and are denied or are offered unfavorable terms.
These inaccuracies can happen in many different ways, including:
- You were a victim of identity theft and someone else opened accounts using
your name or Social Security number
- Your credit file is mixed, meaning that it contains some of your information
and some information from a family member (or occasionally a stranger)
with a similar name
A creditor or debt collector made a mistake and reported the wrong balance,
or reported a debt as outstanding after you paid it off or discharged it in
- A creditor, debt collector or debt buyer falsely “re-aged”
a debt to keep reporting it for longer than the law allows
You can dispute inaccurate items on your credit report. When you do, the federal
Fair Credit Reporting Act (FCRA) and state laws in some states require credit reporting agencies
and the business that provided the information to the credit bureau to
investigate and remove or correct any inaccurate information. Unfortunately,
that doesn’t always happen.
Sometimes, the credit reporting agency is sloppy in its investigation and
so fails to take corrective action.
Sometimes, the company that furnished the false information has an error
in its records and confirms that the information is correct.
Sometimes, shady debt buyers or collection agencies lie, or just don’t
bother to investigate.
Sometimes, the inaccurate entry is corrected, only to reappear on your
credit report a few months later.
You can fight back.
Your Rights Under the FCRA
When credit reporting agencies or furnishers of information don’t
fulfill their obligations under the FCRA, the law protects you in two ways.
Correcting Inaccurate Information on Your Credit Report
First, a court can order the credit reporting agency or furnisher of information
to take specific action to correct the problem. Because the credit bureaus
and furnishers know that they may face more serious consequences if they
violate the court order, they usually fix the problem right away. If they
don’t, they can be found in contempt of court and face additional
Money Damages for FCRA Violations
Depending on the circumstances, you may also be entitled to monetary damages
from the agency or furnisher that violated the law. There is no limit
on actual damages in an FCRA case. So, if you suffered serious harm, like
losing out on an employment opportunity or being denied the loan you needed
to buy your dream house, you may be entitled to significant compensation.
If you didn’t suffer any actual harm, you may still be entitled to
a small monetary award, known as statutory damages. These damages are
available only if the court finds that the agency or furnisher willfully
violated the law. In extreme cases, punitive damages may also be available.
Attorney Fees in FCRA Cases
The FCRA has a fee shifting provision. That means that if the court finds
that the credit bureau or the furnisher of information violated the law,
they can be ordered to pay your attorney fees and other costs associated
with the case. Federal legislators included this provision to make sure
people whose rights are violated under the FCRA can get the relief they
need, even if the amount of money involved is small.
Talk to an Experienced FCRA Attorney
Price Law Group helps people whose FCRA rights have been violated. To learn
more about how we can help force credit reporting agencies and furnishers
of information to correct information on your credit report, call us today
or fill out the contact form on this site. One of our seasoned credit
reporting attorneys will assess your case and explain your rights and options.
For more information call us at 866-210-1722 or fill out the form below.