experiencing problems related to incorrect credit reporting?

Fair Credit Reporting Act

Incorrect information on your credit report can have serious consequences. It can impact your ability to buy a house or a car, to get a job, to obtain security clearance, to get insurance, etc. The Fair Credit Reporting Act is a federal statute designed to protect consumers from inaccurate credit reporting and from the illegal use of credit reports.

Below is a very, very, abbreviated list of some of your rights under the FCRA:

You have the right to dispute incomplete or inaccurate information and consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information.

Consumer reporting agencies may not report outdated negative information.  In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old. So, for instance, it is a violation for a collector to re-age old debts on your credit report.

You must be told if information in your file has been used against you.  Anyone who makes an adverse credit, insurance, employment, or other decision based on a credit report must tell you, and must give you the contact information for the agency that provided the adverse information.  

You have the right to know what is in your file.

You have the right to ask for a credit score.

You have the right to protect your confidential information. A consumer reporting agency may furnish information about you only where there is a legitimate need -- usually to a creditor, insurer, employer, or landlord, for purposes of considering an application.

You must give your written consent for reports to be provided to employers.

There is not a private remedy for all violations of the Act, however, under some circumstances you may be entitled to damages. Under some circumstances, the FCRA provides for actual damages, costs, and reasonable attorney’s fees for negligent violations and for actual damages, statutory damages, punitive damages, and reasonable attorney’s fees for willful violations.

This is certainly not an exhaustive list of your rights nor is this a comprehensive explanation of the FCRA. There are many nuances. If you feel your rights have been violated please call me at (904) 419-9858 for a free consultation.