Your credit score dictates a significant portion of your life, from where you can live, what kind of loans you can take out, and even what jobs you can get in certain circumstances. As such, ensuring that your report accurately reflects your history as a consumer is critical. Due to the nature of these reports, mistakes are bound to happen. However, that does not mean you should suffer because of an error made by a credit reporting agency. In some cases, you may be able to sue for damages with the help of an inaccurate account information disputes lawyer. Keep reading to learn more about these circumstances.
What Kind of Credit Report Errors Can Warrant a Lawsuit?
When you find errors on your credit report, it’s essential to understand that this does not automatically warrant a lawsuit. However, when you file a dispute with the agency, and they ignore or dismiss the claim, it can lead to issues.
Under the Fair Credit Reporting Act (FCRA), credit reporting agencies have a strict timeline they must follow when handling disputes. If this is violated or they continue to give out incorrect information by failing to remedy the inaccuracies on your report, you may consider filing a lawsuit.
Generally, the most common errors on credit reports include, but are not limited to, the following:
- Incorrect personal information (misspelled name, outdated address, wrong date of birth, etc.)
- Fraudulently listing accounts as delinquent
- Reporting accounts twice
- Inaccurately listing late payments
- Including closed accounts as open
- Listing incorrect credit limits
What Steps Should I Take to Sue a Credit Reporting Agency?
Before suing a credit reporting agency, you must first dispute the inaccurate information on your account. To do so, you’ll want to print a hard copy of the credit report and circle or highlight the incorrect details. You’ll then need to include evidence to help show this information is wrong. You’ll want to mail this to the agency, as this is often the best method of disputing information, even in the technological age.
The agency has 30 days under the FCRA to investigate and respond to the dispute. If, despite sending all necessary information, your dispute is dismissed or ignored, you may be unsure how to proceed. You may find that sending an additional dispute with no other information will be marked as frivolous. However, if you included all relevant and necessary information to show why the information was wrong when filing the first dispute, you may be at a loss. As such, it’s in your best interest to connect with an attorney who can fight the reporting agency on your behalf to remedy the report and help you recover any damages you may have endured.
At Loker Law, we understand how complex these matters can be, which is why we are dedicated to helping consumers in difficult circumstances. Contact our team today to learn how we will fight for you.
