laptop surrounded by credit cards

Consumers are the backbone of the nation’s economy. As such, there are an abundance of laws in place to ensure these individuals are treated fairly and protected! It’s critical to familiarize yourself with the credit laws established to protect you, so you can fight for justice if your rights are violated. The following blog explores what regulations you should be aware of and how a San Diego consumer lawyer can help fight for you when you’re the victim of unfair practices.

What Credit Laws Should I Know About as a Consumer?

One of the most important laws you must know about as a consumer is the Equal Credit Opportunity Act of 1974. This law helps ensure that creditors cannot discriminate against applicants who are members of a protected class. Essentially, if there is a form of discrimination, this law allows victims to pursue compensation for the damages endured as a result.

Additionally, the Fair Credit Reporting Act (FCRA) helps ensure the information in a consumer report is accurate while allowing them the right to access and dispute any details they believe to be inaccurate. Additionally, you have the right to receive notifications if you are denied a credit application because of information included in your loan.

The Truth in Lending Act is a set of laws that regulates how details and information included in a contract are explained. Essentially, this makes it illegal for creditors to conceal fees and fines for a consumer. All contracts must be fully transparent before the consumer signs them.

Finally, it’s critical to understand the importance of the Fair Debt Collections Practices Act (FDCPA). These laws help protect those in debt from unfair and abusive collection practices. This act has created a number of guidelines to dictate the behaviors in which collectors can engage.

What Should I Do if My Rights Under These Laws are Violated?

If you have reason to believe that your rights under one of these laws were violated, it’s imperative to take the necessary steps to protect your credit.

Working with an attorney is critical to pursuing justice for these violations, as they have the knowledge on how to file a claim against a company for a credit law infringement. Failure to work with an attorney significantly decreases your chances of recovering the compensation you deserve and having the violation remedied to protect your credit and finances.

At Barthel Legal, we believe those who violate the rights of consumers should be held accountable for their infringements. That’s why we’re proud to represent Californians who have had their rights violated at the hands of greedy creditors or abusive debt collectors. Contact our team today to learn how we will fight for the justice you are entitled to.