The Fair Credit Reporting Act (FCRA) sets the rules for how consumer reporting agencies (CRAs) and information furnishers use personal and financial data. Unfortunately, a CRA or an information provider may violate the law without consumers even realizing it, which can have devastating consequences on their lives. An experienced FCRA consumer attorney can help consumers fight back against inaccurate credit reports, background checks, and other types of consumer data.
Inaccurate data on a credit report or background check can cut people off from opportunities to advance their careers, obtain mortgages, get jobs, or make other major life choices. FCRA violations can also be costly for those who suffer damages due to them. An experienced attorney can help you pursue monetary compensation from entities that have violated your rights.
Dispute Process
The FCRA requires CRAs and information furnishers to follow reasonable procedures to ensure maximum accuracy of the information they report about consumers. If a person believes that a CRA has violated the FCRA, they can file a lawsuit against the CRA or information furnisher that supplied the faulty data. If they can prove that the CRA or other entity violated their rights, they may be entitled to actual and statutory damages as well as their attorney’s fees.
Right to Know What’s Used Against You
If you submit an application for credit, insurance, or employment, the party who receives your report must notify you that it was obtained from a CRA and give you the contact information for the CRA. You can then request a free copy of your report from the CRA. The FCRA also limits who can access your credit report to only those who have a legitimate business need, such as lenders, insurers, landlords, and employers. It restricts how long negative information can remain on your credit report, such as bankruptcies and foreclosures. It also gives you the right to be informed of any errors in your report and to dispute those items.
A CRA must investigate any information you dispute within 30 days, unless it considers your complaint frivolous. The CRA must also send your disputed information to the information provider so that they can correct the error in their database. If you do not receive an adequate response from a CRA, you can file a complaint with the FTC.
If you’ve been hurt by errors on a credit report or background check, it’s vital to contact an experienced FCRA consumer attorney as soon as possible. Inaccurate data can lead to lost opportunities, expensive debts, and poor decisions that have lasting consequences. A skilled lawyer can fight for the restitution you deserve.