As a consumer in the United States, your credit report rules many facets of your life. The score on this document determines whether or not you can obtain a loan, open a credit card, and where you can live. As such, it’s crucial to understand the rules in place to ensure you are treated fairly as a consumer. One of the most essential protections in place is the Fair Credit Reporting Act. The following blog explores the FCRA, the violations you should be aware of, and how a San Diego County credit reporting error lawyer can assist you if you’re the victim of an inaccuracy.
What Is the Fair Credit Reporting Act?
The Fair Credit Reporting Act (FCRA) is an important law that allows consumers to take action against the information on their credit report. One of the most crucial protections guaranteed under the FCRA is the ability to dispute information included in your report. Credit reporting errors are more common than people may think, and as a consumer, you have the right to provide proof and evidence that shows this information is incorrect.
Not only does it provide consumers the right to dispute information included on the report, but it also allows you to restrict who can see your credit report. Not everyone who wants to look into your credit history is able to do so, and this law grants specific individuals the ability to review someone’s credit report.
Finally, the FCRA allows you to place security freezes on your report, request free copies once a year, and gives you the right to learn if the information in your file is used to deny your loan or employment application.
What Are Common FCRA Violations?
While the FCRA is crucial to protect consumers, it’s essential to be aware that violations of your rights can happen, whether intentionally or accidentally. As such, these breaches can impact your credit report and cause damages as a result. Some common violations include, but are not limited to, the following:
- Reporting incorrect or outdated information
- Failing to remedy false information
- Failing to update your information
- Failing to inform other reporting agencies about credit disputes
- Violating your privacy rights
- Mixing your information with that of another consumer
What Should I Do if My Rights Are Violated?
If you discover that your FCRA rights were infringed upon by a credit reporting agency, you may be able to recover compensation for the damages suffered as a result. Generally, if you can prove that the agency’s actions were willful, you may be able to recover up to $1,000 per violation in statutory damages. You may also be able to pursue economic and non-economic damages you may have incurred as a result.
When you discover your rights have been violated, the Law Office of Barthel Legal can help. We understand how frustrating it can be to learn there are inaccuracies in your credit report. As such, we will work to hold the agencies responsible. Contact our firm today to learn how we can assist you through these challenging times.
