FCRA LAWYERS

The Fair Credit Reporting Act (FCRA) shields consumers from mistreatment by credit reporting agencies (CRAs) while enabling lenders and others to use credit reports to assess a person’s creditworthiness. CRAs, also known as credit bureaus, gather information from a person’s credit history, such as bill payment patterns and timing. The major credit reporting agencies include Equifax, Experian, and Trans Union. Landlords, employers, and other entities use this data to make decisions on renting apartments or lending money. However, incorrect or incomplete data in a person’s credit report can harm them. If you are facing a lawsuit from a credit card collection agency, credit reporting agency, or the credit bureaus, or are a victim of other Fair Credit Reporting Act violations, contact an FCRA lawyer in Chicago at Fair Credit Attorneys for assistance with any credit report dispute. We can help you with FCRA violations, credit report problems, negative information, incorrect information, false reporting, credit denials, disputed information, and help dispute inaccurate information that could cause you financial harm.

Can I file a lawsuit for FCRA violations?

“Credit repair” firms offered services or products that promised to fix a person’s credit report, allowing them to start anew and improve their credit scores. However, these “quick fixes” were too good to be true and could not have delivered what consumers needed legally. Even though consumers paid these companies, negative credit information remained on their credit reports for the legal time periods, usually between 3 to 7 years. Additionally, debt collectors still contacted them, causing emotional distress, inability to obtain credit, and embarrassment.

The Federal Credit Repair Organizations Act is a consumer protection federal law enacted in September 1996 to represent consumers. This statute prohibits credit repair organizations from misleading or misrepresenting their services and engaging in fraudulent activities. The Act also prevents credit reporting agencies from sharing your credit score, a person’s credit information, credit accounts, or other information without your permission. Incorrect data and false information in credit reports from credit agencies harms Americans, but you can sue to receive compensation for damages suffered with the assistance of an FCRA attorney.

Under the Fair Credit Reporting Act, you have the right to accurate information and equitable credit file reporting from the major bureaus. If the credit bureaus, a creditor, or another entity violates the Fair Credit Reporting Act, you can sue. You have up to two years from the date you discovered the Fair Credit Reporting Act violation to sue. However, in some cases, you may have up to five years from the date of the violation to file a lawsuit. Therefore, contact a credit report attorney at Fair Credit Attorneys so we can determine the statute of limitations that applies to your case.

What is the maximum amount of actual damages that can be awarded in an FCRA lawsuit?

If your Fair Credit Reporting Act rights are violated, you may be able to receive actual damages, punitive damages, and attorneys’ fees. The amount and type of damages you receive depend on whether the violation was intentional or due to negligence. If you can prove that a CRA or another entity violated your Fair Credit Reporting Act rights, didn’t use written permission or reasonable procedures, you may recover actual damages, which have no limit, or statutory damages ranging from $100 to $1,000. In cases where an individual violated your rights and obtained a copy of your free credit report from one of the credit reporting companies by lying or used it fraudulently in a case of identity theft, your damages may be greater than your actual damages or $1,000. Actual damages refer to provable financial losses that you suffered as a result of the violation.

What are statutory damages?

To establish willful violation, your attorney must prove that the violation was reckless and that the person or entity knew about it. In some cases, there are multiple credit file report cases against a single defendant that could include hundreds of violations. Statutory damages during this complex process can be awarded when the same defendant commits multiple violations against various victims.

What are the most common credit report errors?

The top three errors that can occur on your credit report by a credit bureau are typically caused by incomplete or inaccurate information in your credit file. These errors usually include:

• an incorrect address
• a misspelled name
• an entirely wrong name

However, according to the Consumer Financial Protection Bureau, there are other common errors to watch out for, such as incorrect dates for payments or account openings, closed accounts that are still listed as open, or false credit reporting of accounts that are falsely reported as delinquent or late. Another common mistake is when someone is mistakenly reported as the account owner instead of an authorized user. If you pull your free credit report and discover an error, it is possible to dispute it with the credit bureau by collecting evidence and submitting a letter explaining the mistake. The major credit bureaus offer an online dispute process that outlines the required documentation for verifying your identity and correcting the erroneous information.