Why you need to get to know the Fair Credit Reporting Act (FCRA)

The Fair Credit Reporting Act (or FCRA), passed in 1970, is a federal statute designed to protect consumers. The FCRA essentially is a federal law that combines common law principles of law defamation and privacy. Ultimately, the purpose of the Fair Credit Reporting Act is to assure that the information credit bureaus publish about you […]

Mixed Files and Merged Files: Common Credit Report Problems

If you find someone else’s accounts or personal information on your credit report, Sherman ; Ticchio can help. The same is true if you find that most or all of your credit history is missing from your credit report (or if you cannot obtain a copy of your credit report).Mixed credit files and merged credit […]

The FCRA: You may be entitled to financial compensation for credit report errors

FCRA §1681o applies to negligent violations of the Fair Credit Reporting Act Pursuant to FCRA §1681o, any person (under the law, the term person includes entities such as, among others, (a) consumer reporting agencies (CRAs) — Equifax, Experian, Innovis, TransUnion, and others, (b) furnishers of information to CRAs — lenders, credit card servicers, student loan […]

Identity Theft – a Guide for Consumers

Identity theft happens when one individual uses the personal identifying information of another person without permission. Often, perpetrators of identity theft fraudulently open credit card accounts, obtain loans, and even open accounts with service providers like utilities.; An identity thief with access to your personal information and knowledge of a credit card number that does […]

The Worst Time to Discover an Inaccurate Credit Report

While perhaps obvious, the absolute worst time to learn about errors on your credit report(s) with Equifax, Experian, Innovis, and TransUnion (or any other credit bureau) is when you apply for credit. Unfortunately, because far too few people regularly monitor their credit reports, it is precisely when credit is needed (financing a car, applying for […]

Damages, Fees, and Costs in Credit Report Litigation

Damages, Fees, and Costs in Credit Report Litigation The Fair Credit Reporting Act offers consumers many different forms of financial relief for violations of the Act by credit reporting agencies and companies that report to them. For the sake of simplicity, we will refer to all potential financial compensation for violations of the FCRA as […]

Credit Report Errors: Disputes and Lawsuits Under the FCRA

The Fair Credit Reporting Act (FCRA) defines two different types of disputes of inaccurate information on your credit report — “direct disputes” and “indirect disputes” — and it may surprise you which one provides the consumer with more rights. When you dispute incorrect information on your credit report directly to the company that is the […]

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 […]