What Damages Can I Recover If I File A Lawsuit Under The Fair Credit Reporting Act?

Under the Fair Credit Reporting Act, a person can sue for damages that arise from the credit bureau or furnisher of false information’s failure to reinvestigate reasonably, but cannot sue for false information that someone is reporting on their credit report. For this reason, many cases in the federal courts get thrown out. Anyone who suspects they may be dealing with a credit reporting problem is advised to get a lawyer involved right away so that the letters that need to be sent are written correctly. If someone wants to rely on their own letter writing abilities or on advice that they found on the internet, then they will be running the risk of ending up back at square one. Some people will deal with these issues for years, and as a result, they will encounter problems qualifying for car loans, student loans, and checking accounts because they will have a low credit score. When I evaluate these cases, I usually find that the reinvestigations weren’t done correctly, that the dispute letters didn’t go to the right addresses, or that the client did not keep proof that they received the disputes.

Who Has The Legal Right To View My Credit Report?

There’s a list in section 15 USC 1681b of the statute that lists who is entitled to look at a person’s credit report. This list includes anyone whom the individual has authorized to look at their credit report. By signing a credit application, people usually give consent to many people and/or organizations to view their credit report. For this reason, anyone with whom a consumer has an existing credit relationship or account can review the consumer’s credit report at any time. Account reviews won’t affect a person’s credit score because they are different than hard credit application pulls. Debt collectors, prospective employers, and a couple of other entities can pull a person’s credit report under certain circumstances. Most of the time, an entity or organization that is viewing someone’s credit report will have the right to do so, but it is important for consumers to pay attention to who is viewing their credit report and to make sure that each entity indeed has permission.

For more information on Damages Available in A FCRA Lawsuit In MI, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (248) 843-0550 today.