Could I be entitled to damages if my rights were violated under the Fair Credit Reporting Act?
In today’s day and age, a person’s credit score is crucial to being able to do just about anything from purchasing a car to renting an apartment. The Fair Credit Reporting Act (FCRA) protects consumers since their credit report is so important to daily life. Consumers may be entitled to damages when a party violates a their rights under FCRA.
Parties Responsible for Damages Under FCRA
There are several rules laid out under the Fair Credit Reporting Act. This includes rules as to what can be reported, how long it can be on a credit report, who can access the report, and what must happen if a consumer disputes the information. Consumers may take legal action against parties who have violated the Fair Credit Reporting Act. Parties who are potentially liable to a consumer under FCRA include the following:
- The credit reporting agency, also known as the credit bureau
- The party furnishing the information to the credit reporting agencies, whether it is a business or an individual
- The entity using the information in the credit report, such as an employer, landlord, or creditor who accesses your report without verbal or written permission or an employer that accesses your report and takes an adverse action without providing a copy of the report to you.
It is important to understand which party may be responsible in the event that your rights under the Act are violated.
4 Types of Damages for a Fair Credit Reporting Act Violation
If a violation does occur, consumers may be entitled to the following damages:
- Actual damages. There is no limit to this amount, as long as you can prove the loss.
- Statutory damages. These damages range between $100 and $1,000. Consumers can take advantage of statutory damages even without proving that the violation caused you harm.
- Punitive damages, with no limit on how much. Punitive damages are decided by the court overseeing the proceeding.
- Attorney’s fees and costs.
In addition to obtaining damages for violations relating to your credit report, you may also be entitled to damages if a debt collector uses illegal debt collection practices against you. (See the Fair Debt Collection Practices Act or FDCPA)
If you feel that your rights may have been violated or if you have questions, we are here to help you. Call Us at 888-241-2200 for a no cost consultation.
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Related Link:
What Is the Fair Credit Reporting Act?
