Know Your Rights Under The Fair Credit Reporting Act
An inaccurate credit report can be a direct threat to your ability to secure financing or maintain professional standing. When a credit bureau, bank or debt collector fails to fix a clear mistake on your report, you may face unfair financial hurdles. The attorneys at DeBlasis Law Firm understand the frustration of dealing with large financial institutions that fail to correct reporting mistakes.
Whether your case involves Equifax, Experian or TransUnion, the DeBlasis Law Firm lawyers work to ensure that these agencies respect your consumer rights. If a financial institution has ignored your legitimate dispute, they are ready to pursue damages for the harm done to your credit profile.
How Federal Law Protects Your Financial Data
The Fair Credit Reporting Act (FCRA) regulates how consumer reporting agencies can collect and distribute your data. Under this law, you have the right to:
- Accuracy: You have the legal right to a credit report that is free of outdated or incorrect information.
- Dispute: If you identify a credit report error, the agency must generally investigate and correct it within a specific time frame.
- Notification: Creditors and employers must notify you if information in your file leads to an adverse action, such as a loan denial or a missed job opportunity.
- Privacy: Only entities with a “permissible purpose” can access your credit report, such as a lender, landlord or potential employer.
If a credit bureau or bank refuses to fix a clear mistake on your report, it’s important to consult with a DeBlasis Law Firm attorney. They can assess your case, work to clear your name and seek recovery for your financial losses.
Types Of Cases That Fall Under The FCRA
Violations of the FCRA often manifest in ways that significantly disrupt your portfolio or career. The lawyers at DeBlasis Law Firm have extensive experience in protecting clients’ interests during complex credit disputes, including:
- Mixed files: When a credit bureau merges your credit information with that of another person, it can damage your score
- Identity theft: The failure of bureaus to remove fraudulent accounts after you provide documentation of the theft
- Outdated information: The reporting of “polluted” data, such as debts older than seven years
- Inaccurate personal information: Errors in your name or history that lead to a background check dispute
Identifying FCRA violations early is the first step in protecting your interests. A DeBlasis Law Firm attorney can investigate the source of the error and walk you through the necessary steps to clear your record.
What A Cincinnati Consumer Protection Lawyer Can Do For You
When the administrative dispute process fails, federal court litigation can be one of the ways to achieve a resolution. The attorneys at DeBlasis Law Firm are ready to step in and advocate for you and the financial damages you have suffered. Depending on the specifics of your case and the impact the error has on your life, the team can help you seek:
- Actual damages
- Statutory damages
- Punitive damages
The firm’s founding attorney, Rick DeBlasis, has 45 years of experience resolving complex financial disputes. Together with Thomas Meeks and Donald Lerner, they can guide you through the litigation process to hold credit bureaus accountable.
What You Need To Know About FCRA Violations
Understanding your legal rights is the first step toward correcting your credit profile. Below are answers to common questions regarding credit disputes and federal law:
What are the most common violations of the Fair Credit Reporting Act?
The most frequent violations involve:
- Credit bureaus failing to conduct a reasonable reinvestigation of a dispute
- Furnishers of information, such as banks or credit card companies, providing inaccurate data to the bureaus
- Unauthorized credit inquiries and the failure to report a debt as “disputed”
If you are facing any of the above, an attorney from DeBlasis Law Firm can review your case and walk you through your options.
How long does a credit bureau have to investigate a dispute?
Generally, a credit bureau has a 30-day dispute window to investigate and respond to a claim. This period can extend to 45 days if you provide additional information during the initial investigation period.
Can I sue a credit bureau for a background check error that cost me a job?
Yes, you may have the right to sue a credit bureau for inaccuracies if a background check contains false information that results in a negative employment action. This often includes instances where a criminal record belonging to someone else appears on your report.
Schedule A Case Review Today
An inaccurate credit report should not stand in the way of your next investment or career move. If a credit bureau’s or bank’s negligence has created legal obstacles for you, the lawyers at DeBlasis Law Firm are ready to help you overcome them. You can contact the firm by calling 513-540-1024 or by sending an email.