Identity Theft Law Firm
If your identity has been stolen, contact an identity theft attorney immediately to help prevent further damage to your credit, and recover any financial losses you may have suffered.
Fair Credit Reporting Act (FCRA) and Identity Theft
The Fair Credit Reporting Act (FCRA) protects victims of identity theft, and any other consumers with inaccurate or erroneous information on their credit report. Common FCRA violations often involve:
- Inaccurate account balance;
- Inaccurate payment history;
- Inaccurate account status (collections, charge-off, etc.);
- Inaccurate bankruptcy coding;
- Accounts that do not belong to you;
- Accounts that you did not open; and
- Credit Inquiries without your consent.
Credit Report Errors and Credit Report Disputes
If you locate an error on your credit report, the FCRA provides a comprehensive dispute process:
- Consumers may dispute inaccurate information on a credit report with the credit reporting agencies, including Experian, Equifax and Transunion.
- Once a credit reporting agency receives a dispute, it is required to transmit the dispute to the entity that reported the disputed information, or the furnisher of the credit information.
- Once the furnisher receives the dispute, it is required to conduct an investigation in compliance with the FCRA.
- If the furnisher does not conduct a reasonable investigation of your dispute and continues to report inaccurate information, you may have a claim under the FCRA.
Entities that report information on your credit report may include banks, creditors, other financial institutions and utilities (telephone, internet and tv providers).
The FCRA provides the following types of damages:
- Compensation for financial losses sustained as a result of the violation;
- Damages for emotional distress suffered as a result of the violation;
- Punitive damages
Learn more about the FCRA and call us right away if you think your rights have been violated.