The Fair Credit Reporting Act

The Fair Credit Reporting Act is a federal statute that was enacted in 1970. It was created to protect the rights of consumers and regulate the practices of parties who provide information to credit reporting agencies, the credit reporting agencies themselves, and those who use such reports. The FCRA permits consumers to make legal claims against and sue credit reporting agencies, creditors and debt collectors who report erroneous information. Violations of the FCRA include:

• Failing to report a discharged debt in bankruptcy
• Reporting information that is more than seven years old or reporting old debts as new
• Reporting debts that have been settled
• Charging late fees on debts that were paid on time
• Providing credit information even though identity theft has been reported
• Mixing the credit information of different parties
• Failing to correct inaccurate information from a debtor’s file

Violations of the FCRA by credit card companies, banks and other entities that provide information to a credit reporting agency (CRA) include:

• Notifying CRAs that a debtor has disputed a debt
• Failing to investigate a disputed debt within 30 days
• Failing to provide a debtor with information needed to complete the dispute process
• Failing to report results of an investigation to the debtor
• Providing information to CRAs that is known to be inaccurate

If you believe a creditor, credit bureau, or credit information provider has committed one or several of the above violations, contact our FCRA attorney as soon as possible for an evaluation of your case. We may be able to file a lawsuit and obtain compensation for damages on your behalf.

Contact us today.