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Can You Sue The Credit Bureaus For Damaged Credit?

Posted by on Apr 7, 2015 in Uncategorized | 0 comments

Your credit score is an important aspect of your financial health and can have a direct impact on the monetary and employment opportunities available to you. That’s why it’s critical to regularly monitor your credit report for mistakes and get them fixed right away. Unfortunately, sometimes credit bureaus do not adhere to their legal obligations to fix reporting errors, causing consumers untold angst and losses. However, the Fair Credit Reporting Act (FCRA) has provisions that allow consumers to sue reporting agencies for violations of the law. Here’s what you need to know about getting compensated for your losses. Recoverable Damages Under the FCRA, you can either pursue actual damages or statutory damages. If you choose to go after actual damages, you must prove you sustained losses and those losses were the direct result of the agency’s action or inaction....

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