What is a consumer report?
When you obtain your credit report from Equifax, Experian, or TransUnion (or any of the many other consumer reporting agencies (CRAs)), you receive a “consumer report” as that term is defined by the Fair Credit Reporting Act (FCRA). The FCRA is the main federal statute that governs consumer reports and the credit reporting industry, […]
Job offer withdrawn due to false background check report?
Most job-seekers have never been arrested in their lives. Nevertheless, we at Sherman & Ticchio have seen a recent uptick in the number of times that potential employees are being denied job offers or having conditional job offers withdrawn based on false information on the background check reports that companies are increasingly requiring as a […]
My 9/11 – A lucky escape from Two World Trade Center, 65th Floor
Those of you who know me well have seen this post many times. I decided to go with an abridged version this year. Re-reading this as we approach the 20th anniversary of 9/11 gave me chills. As always, I dedicate these words to all of those who were lost that day. Never forget! September 11, […]
Credit Card Disputes and the FCRA
What happens when you have fraudulent credit card charges and your credit card issuer does not believe you? The short answer is this: you pursue your rights under the federal Fair Credit Reporting Act (FCRA). At Sherman & Ticchio, we are frequently contacted by consumers who have unauthorized/fraudulent charges on their credit reports and credit […]
Damages for Violations of the Fair Credit Reporting Act
The Fair Credit Reporting Act (FCRA) is a fee-shifting statute. This means that, should you prevail in a lawsuit against creditors and/or consumer reporting agencies (CRAs) like Equifax, Experian, and Trans Union, the Court will award you damages (discussed more fully below), including your costs and reasonable attorney’s fees. So what are reasonable attorney’s fees? […]
Disputes and Lawsuits: Do You Need a Credit Lawyer?
Disputes and lawsuits: do you need a credit lawyer? Many consumers dispute inaccurate information to Equifax, Experian, Innovis, and TransUnion. What these consumers don’t realize is that the dispute process is a lose-lose. Essentially, there are two possible outcomes to a dispute: either the credit bureau verifies that the information is accurate or deletes the […]
Should I dispute unauthorized hard inquiries?
You should dispute hard inquiries that are not associated with applications for credit that you made because hard inquiries bring down your credit score and unauthorized inquiries could indicate that you are a victim of identity theft. What is a hard inquiry? A hard inquiry is a record in your credit file (that appears on […]
Identity theft? 3 steps to take right now
Take these three steps immediately if you believe you are a victim of identity theft (i.e., that an identity thief has obtained access to your confidential personal information and has used or may use your identity for self-enrichment): First, freeze your credit. A credit freeze bars credit reporting agencies – Equifax, Experian, TransUnion, and others […]
Reinsertion in your credit file of previously deleted information
“Reinsertion” under the Fair Credit Reporting Act (FCRA) means that a credit bureau has started to again report inaccurate information that was previously disputed by a consumer and removed or suppressed by a credit bureau — Experian, Equifax, and TransUnion, and others — from the consumer’s credit file. Reinsertion often happens when a disputed/deleted account […]
Avoid Credit Repair Shops!
Credit repair shops (commonly also known as “credit repair organizations” or CROs) are mass credit dispute operations. You have heard commercials for credit repair shops on the radio. You have seen them on television. Credit repair shops typically charge you upfront and monthly fees (or similar fee arrangements) to churn out and send to consumer […]
What is the Purpose of the Fair Credit Reporting Act?
The Fair Credit Reporting Act (FCRA) was enacted to protect consumers because Congress recognized, as early as 1970, that an individual’s right to accurate credit reporting is vitally important. Consider the following statement from the Congressional Record: “The purpose of the Fair Credit Reporting Act is to protect an individual from inaccurate or arbitrary information […]
Can you sue after a credit dispute?
When you dispute an inaccurate debt on your credit reports to one or more credit bureaus (like Equifax, Experian, and TransUnion), the Fair Credit Reporting Act (FCRA) requires credit bureaus and the creditor that supplied the inaccurate information to the credit bureaus (called a furnisher under the FCRA) to take action. Specifically, the Fair Credit […]