Consumers have rights regarding the items that are being reported on their credit report and can dispute any items that they feel are inaccurate. Companies that provide information to consumer reporting agencies (Credit Bureaus) such as Experian, TransUnion, and Equifax are called “Furnishers.” These Furnishers include credit card companies, banks, collection agencies, vehicle financing companies, and state and federal courts.
Furnishers must provide complete and accurate information to the Credit Bureaus. Both Furnishers and Credit Bureaus have a responsibility to investigate consumer’s disputes of items that they believe are inaccurate on their credit report.
What If They Do Not Correct The Inaccuracies
If inaccuracies are unchanged after the dispute by the consumer, and a consumer can prove that their dispute is correct in regard to the inaccuracies, it is possible for the consumer to sue the Furnisher for providing false and inaccurate information to the Credit Bureau(s), as well as to sue the Credit Bureau(s) for not doing a proper investigation in the face of the information that was provided to it by the consumer. The federal Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) ensures these rights.
The consumer may recover statutory damages via a lawsuit. They can also recover any actual damages, especially if they were denied credit opportunities or received higher interest rates on loans due to the inaccurate negative information on their credit report. The consumer can also get their attorney’s fees and costs paid by the Furnisher and/or Credit Bureau(s) that is sued.
Your credit history is important, and we would love to hear your story and do a quick and free consultation to see if we can try to assist you in getting monetary damages and other relief for any inaccurate reporting and improper investigations you might be dealing with.
Contact Us For Help
If you are the victim of inaccurate credit reporting, and since disputing these inaccuracies, the inaccuracies on your credit report have remained unchanged, please save a copy of your dispute and the results of the Credit Bureau’s improper investigation, and give Rights Protection Law Group, PLLC, a call at CALL or fill out our online info form.