What Happens If A Creditor Violates The Fair Credit Reporting Act?
Under the Fair Credit Reporting Act (FCRA), an individual has the right to fair and accurate reporting of credit information. You are also entitled to privacy rights concerning your credit information and protection from the misuse of your credit data. When a creditor, credit bureau, or other agency violates your rights under the FCRA, you can file a lawsuit against them. The Columbus, OH FCRA attorneys at Kohl & Cook Law Firm, LLC help individuals file FCRA lawyers when their rights have been violated. In this article, we’ll discuss the FCRA and remedies available to file complaints concerning misuse of your credit information.
What is the Fair Credit Reporting Act?
The conduct of consumer reporting agencies (also called credit bureaus) and businesses or individuals that report information to these bureaus are governed by the FCRA. Consumer reporting agencies compile this information on your credit report. Creditors, landlords, and employers may rely on this information when making decisions to extend credit to you, give you a job, or rent an apartment to you.
The FCRA lays out the rules concerning who can access your credit report, what types of information can be reported, how long that information remains on your credit report, and how credit reporting agencies handle a situation in which a consumer disputes information appearing on their credit report. Inaccurate information can lead to a creditor denying you a loan. An employer may refuse to hire you. A landlord can opt not to rent you an apartment.
Damages for a willful violation of the FCRA
If you can show that a credit reporting agency or other party willfully violated the terms of the FCRA, then you may be able to recover the following damages:
- Actual, provable damages (no limit)
- Statutory damages between $100 and $1,000 (there is no need to prove that the violation caused you actual harm)
If the alleged FCRA violator was an individual who lied to get your credit report or used it for an improper purpose, then:
- Your actual, provable damages (no limit), or
- $1,000 (there is no minimum)
You may also be entitled to recover punitive damages as decided by the court plus attorney’s fees and costs.
Damages for a negligent violation
You are entitled to recover damages even if the FCRA violation was an accident. If you can show that the credit reporting agency or other entity negligently failed to comply with its obligations under the FCRA, you can recover:
- Actual damages (no limit), and
- Attorneys’ fees and costs
Talk to a Columbus, OH FCRA Violations Attorney Today
If you’ve suffered a violation of the FCRA, the Columbus consumer attorneys at Kohl & Cook Law Firm, LLC can help you recover damages related to the unlawful activity. Call our office today to schedule an appointment, and learn more about how we can help.
