FCRA Violations: Credit Reporting Errors
The Fair Credit Reporting Act (FCRA) was created in order to protect the sensitive personal credit information of consumers. One of the provisions of the FCRA states that credit agencies must promptly respond to reports of incorrect information. If they do not investigate disputed information in a timely manner, they could be found in violation of the FCRA and could be responsible for paying damages.
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- Examples of credit report inaccuracies can include:
- Confusion of name, address, and Social Security number
- Incorrect payment status
- Remedied delinquencies that still show up on the report
- Mixed information from an ex-spouse
- Mixed account information due to identity theft
Correcting Credit Reporting Errors
If you notice a credit reporting error, you should take immediate action. Erroneous information can seriously harm your financial health and may make it difficult for you to open a new line of credit, obtain a loan, or apply for a job.
In order to report an error, you will need to do the following:
- Tell the credit reporting company in writing what information you believe is not accurate.
- Include copies of documents that support your claim.
- Send the letter by certified mail, “return receipt requested” so that you can know when the company receives your communication.
- The credit reporting company will have 30 days to review the information. After the investigation, they will be required to provide you with a copy of the results in writing and a free copy of your credit report that reflects the changes that were made.
If you have sent multiple requests to a credit reporting agency like Equifax, Experian, or TransUnion and have still not been able to have the erroneous information removed, you may have grounds for legal action. An experienced Chicago consumer rights lawyer at Atlas Consumer Law can advise you on your case and inform you of your legal options. Under the provisions of the FCRA, you won’t be responsible for any attorney fees if you have a valid case; the credit agency will be responsible for all costs associated with their violation of the law. Do not hesitate to involve an attorney in your FCRA matter.
To speak with an attorney at our firm, please call (312) 313-1613.