The Fair Credit Reporting Act (FCRA) allows consumers to monitor and correct inaccurate information that is being reported on their credit report. Inaccurate information can affect credit card or loan approval, insurance rates, employment, and housing, among other things. If you believe your rights under the FCRA have been violated, an experienced FCRA lawyer can help you recover compensation for financial losses and emotional distress.
Incorrect credit reporting FCRA attorney in Chicago can be the result of a variety of issues, including identity theft and errors in data entry. These errors can result in the denial of loans, higher interest rates on credit cards or mortgages and difficulty getting a job. These issues can also affect a consumer’s reputation.
A Chicago FCRA attorney can provide the assistance you need to make sure that your credit reports are accurate. An experienced attorney can file a complaint, work towards a settlement or go to trial to ensure that the credit bureaus comply with the law.
When the law is violated, a consumer can sue for damages to recover compensation for their financial losses, emotional distress, and statutory damages. If an entity intentionally breached the law, it may be possible to obtain punitive damages as well.
The law imposes duties on both credit agencies that collect and report consumer information as well as those who furnish such information to the CRAs. These entities must adhere to the strict requirements of the FCRA in order to avoid being held liable for violating the law.
FCRA violations can be committed by companies who furnish information to a CRA as well as by those who regularly access the information. For example, a mortgage company who supplies incorrect information to the CRA like overstating your total debt amount or reporting on-time payments as late can be held liable for violating the FCRA.
Likewise, an employer who checks a prospective employee’s credit report before hiring them can be sued for violating the law. The law requires the employer to notify an applicant that they will be checking their credit and allow them to dispute any information in their report.
If a person is denied employment or denied a loan as the result of a bad credit report, that individual may be entitled to compensation for their financial losses and emotional distress. In addition, if the employer is found to have been negligent in their use of a credit report they may be required to pay attorney’s fees and costs.
Brandon has been a consumer finance litigation lawyer for over 10 years and defends clients in cases brought under the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act and various state consumer protection laws. He regularly handles both single plaintiff and class action cases. His commitment to open communication and prompt responsiveness illustrates his dedication to his client’s case. He has successfully briefed and argued a wide range of federal and state court matters on both trial and appellate levels.