Fair Credit Reporting Act Attorneys: What Do They Do and Why Do You Need One?

Reports show that 74% of people view their credit score as very important. Additionally, more than 50% of people say that their credit score affects their day-to-day life. 

Your credit score can impact you in numerous ways, including the interest rates you can access on debts like home and car loans. It can even affect your employment opportunities. If your credit score is wrong, this could unfairly affect many areas of your life. 

So what do Fair Credit Reporting Act (FCRA) attorneys have to do with all this? 

Fair Credit Reporting Act attorneys help consumers fight credit score issues and violations of the FCRA.

Are you wondering if you need a FCRA attorney? If so, keep reading to find out what they do, and whether you need one in your corner. 

What Is the Fair Credit Reporting Act?

Before we discuss what Fair Credit Reporting Act attorneys do, let’s review the Fair Credit Reporting Act. 

The Fair Credit Reporting Act is a piece of legislation the federal government created to protect the fairness, accuracy, use, and privacy surrounding information collected by consumer reporting agencies. These agencies include:

  • Credit bureaus,
  • Tenant screening services, and
  • Medical information companies.

Under the act, information that’s contained within a report from one of these agencies may only be given to someone with an accepted purpose for viewing the information as specified in the act. In other words, not just anyone can pull your credit report.

Companies that provide information to consumer reporting agencies also have specific legal requirements to follow. For instance, the act requires these companies to investigate any information that is disputed by a consumer.  

Additionally, anybody who uses information covered by the act for insurance, credit, employment, or screening purposes must inform the consumer if they make an unfavorable decision because of the information contained within the report. 

In simpler terms, if a potential employer decides not to hire you because of your credit score, they have to notify you and disclose that your credit history is the reason they don’t want to work with you. 

What Do Fair Credit Reporting Act Attorneys Do?

Fair Credit Reporting Act attorneys focus on federal consumer law and have experience fighting cases that involve violations of the FCRA. 

Fair Credit Reporting Act lawyers primarily fight credit bureaus and agencies to defend your rights in situations like:

  • Uncorrected errors on your credit report
  • Unauthorized credit report requests
  • Failure to investigate disputed information
  • Inclusion of accounts that were opened in your name without your permission 
  • Including charges on your report that you are not liable for (such as for accounts you closed but which erroneously remained open)

This is just a handful of the issues Fair Credit Reporting Act attorneys can address for you. Often, the legal practice areas of Fair Credit Reporting Act lawyers overlap with other legal situations like identity theft and consumer class action. 

Besides negotiating with credit reporting agencies, an FCRA lawyer can also bring your case to court if need be. Through litigation, they may help fix your credit report and also request financial damages. 

These damages may include:

  • Statutory damages
  • Actual out-of-pocket damages
  • Punitive damages
  • Court costs and lawyers fees

Benefits of Hiring a Fair Credit Reporting Act Attorney

There are a variety of ways a Fair Credit Reporting Act lawyer can help you. Not only can they help resolve issues with your report, and sue for damages, but they can also relieve your stress, and provide you with valuable advice regarding your credit report. 

Let’s take a look at some of the benefits of hiring an FCRA attorney in more detail. 

They May Get Results Faster 

Because a Fair Credit Reporting Act attorney knows the law and how to negotiate with credit bureaus, they may get results more quickly than a regular consumer who doesn’t know where to start. If your credit bureau is not cooperating, an FCRA lawyer may be the catalyst you need to rectify credit report issues. 

They Know Which Damages are Recoverable

Fair Credit Reporting Act lawyers can also request and recover damages that are allowed by law. Have you been overpaying on your home, car, or loan payments because of an error on your credit report? If so, a skilled FCRA lawyer may be able to adjust your debt and get the damages and justice you deserve. 

They May Help You Find Potential Errors on Your Credit Report

Sometimes it can be hard to track down errors on your credit report. Not only can an attorney help you in filing a Fair Credit Reporting Act claim, but they can also help you find grounds for a claim. 

If you feel like your credit report isn’t reflecting what it should, but aren’t sure where the problem lies, an FCRA attorney may be able to help. Even if you have identified an issue, an attorney can comb through your report to make sure there aren’t additional issues that need correction. 

A Fair Credit Reporting Act Attorney Can Reduce Stress for You

Correcting an error on your credit report can be very stressful if the credit reporting agency is not cooperating. A Fair Credit Reporting attorney can relieve you of this stress, handle all negotiations, and get the issue fixed as quickly as possible. 

If you need to make a claim, your lawyer will handle everything related to your Fair Credit Reporting Act lawsuit. 

Some Fair Credit Reporting Act Attorneys Will Advise How to Improve Your Credit Score

Survey results reveal that four in ten Americans don’t know how their credit score is calculated. If you are unsure what influences your credit report, or how to improve your credit score, an FCRA attorney may give you professional advice. 

Do You Need a Fair Credit Reporting Act Attorney?

Fair Credit Reporting Act attorneys defend consumers whose rights have been violated under the FCRA. If you are trying to correct errors on your credit report or seek compensation for damages by filing a Fair Credit Reporting Act lawsuit, then an FCRA lawyer is the best person to consult. 

At The Financial Justice Initiative, we focus on consumer protection law. We regularly help clients on a contingency fee basis, which means you don’t have to pay any legal fees unless we win your case for you. 

Ready to take action? Contact us for a free consultation today.