The Fair Credit Reporting Act Overview

by DeLadurantey Law Office, LLC on January 26, 2015

Credit History picThe Fair Credit Reporting Act (FCRA) is an important law for consumers to understand because it protects your right to the fair and accurate reporting of your credit information. If a creditor violates your FCRA rights, you have remedies available to you (depending on the type of violation) which may include your actual damages suffered, punitive damages, your lawyer fees and costs.

The FCRA sets forth how the credit reporting bureaus and the companies that report information to them must act. The credit reporting agencies compile the information they receive in order to create your credit report, which your lenders, landlords and employers may rely upon. Your credit score is often a determining factor in whether or not credit is extended to you, but it can also impact whether you are able to get the home or job you want.

The FCRA also dictates who can access your credit report, the type of information that can be reported and how long certain information can be noted on your report. If a credit reporting agency violates any of your rights set forth under FCRA, it could have serious negative consequences for you. For instance, if your credit report contains erroneous information, you could be denied a loan you really need or an employer could refuse to hire you.

If your FCRA rights have been violated, we can help you file a lawsuit in either federal or state court. It is important to contact us as soon as possible because there is a statute of limitations for bringing this type of lawsuit. For most cases, you have two years from the date you became aware of the violation to file suit, or five years after the date of the violation.

To learn more about your FCRA rights and how we can help you, contact us today to schedule an appointment.

If you believe your FCRA rights have been violated or you are considering filing for bankruptcy protection, call DeLadurantey Law Office, LLC, at (414) 377-0518. We believe that each client should receive the individual attention necessary to reach their financial goals. Recognizing the needs of working clients, we maintain a flexible schedule and offer evening appointments. Initial consultations are always free, and phone inquiries are always welcomed. Find us on the Internet and on Facebook.

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