Understanding The Fair Credit Reporting Act (FCRA)
The Fair Credit Reporting Act ensures that consumers have certain legal rights and protections from companies in charge of gathering, reviewing, and reporting data. These companies (known as Consumer Reporting Agencies or CRAs) must report credit accounts fairly and accurately. The most popular companies that provide these services include Equifax, Experian, and TransUnion.
Under the FCRA you have the right to:
- Know which information in a credit report caused you to be denied an offer of credit;
- Review your credit reports for free;
- Dispute errors in credit reports, including mixed credit files, non-reportable data, false deceased designations, and false data caused by identity theft;
- File lawsuits against companies that illegally damage your credit;
- Get compensation when errors appear in credit reports.
The FCRA also requires credit agencies to:
- Produce accurate credit reports;
- Investigate discrepancies and respond within 30 days;
- Fix credit reporting errors;
- Pay compensation to those harmed by errors;
- Pay your legal fees if you file a lawsuit and win.
What does a credit reporting lawyer do?
A Columbus credit report lawyer helps protect consumers who are harmed by inaccurate, misleading, or false information in a credit report. Our lawyers will fight credit bureaus to restore your good credit if it is harmed by false information.
- Understand the law – A credit report attorney understands federal laws including the FCRA that protect you from bad credit reporting. We also know state laws specific to Ohio that can protect you.
- Review your reports and identify the problem – An FCRA lawyer reviews your credit reports and data from other sources to identify the problem with your report. Mistakes can happen. This includes a mixed credit file, deceased reporting, issues stemming from identity theft, and more. Creditors, armed with false information, will deny you access to opportunities to establish new credit.
- Provide legal advice and guidance – A credit report lawyer will guide you through the dispute process. Without an attorney, the defendant may stall, delay, provide inadequate investigations, and fail to correct errors adequately. Our attorneys will ensure that you file at the appropriate time, lead the dispute process, and know when it’s time to file a lawsuit. A credit report attorney knows when to file a dispute to quickly and completely resolve all mistakes. We’ll advise you on the documents you’ll need, draft your letter, gather supporting documentation, and submit the case file to the creditor and court.
- Sues reporting agencies for FCRA violations – If we cannot resolve the matter with the CRA directly, it will then become time to file a lawsuit. A credit report lawyer knows specifically how to do this and how to restore your credit score.
- Gets you compensation – A credit report lawyer can ensure you receive compensation depending on the specific type of harm you suffered due to the inaccurate reporting. Our lawyers can ensure you get the maximum amount you’re entitled to.
Talk to a Columbus, OH FCRA Attorney Today
The Columbus Fair Credit Reporting Act attorneys at Kohl & Cook Law Firm, LLC represent the interests of those looking to dispute accounts on their credit report. Call our office today to schedule an appointment, and we can begin discussing your next steps right away.
