The Fair Credit Reporting Act (FCRA) is a set of federal laws, codified as 15 U.S.C. § 1681, et seq., regulating access to your credit report and setting forth Credit Reporting Agencies’ (CRAs) responsibilities related to your personal financial information. Despite being private entities, national CRAs such as Equifax, Experian, and TransUnion maintain critical personal financial information related to your creditworthiness, credit capacity, and financial standing. Your credit report often determines whether you qualify for a loan, job, and even certain professional certifications.
When CRAs breach their fiscal duties, such as when Equifax failed to properly investigate credit reporting error claims, consumer protection attorneys can help you file a lawsuit under the FCRA. However, a complex litigation deadline called the statute of limitations applies to FCRA claims. If you suspect a qualified CRA violated the FCRA, contact experienced federal consumer protection lawyer Jibreal S. Hindi immediately.
The Fair Credit Reporting Act applies to all credit reporting agencies, not just the national three. The following entities are also considered CRAs under the FCRA:
You may have a claim for damages under the FCRA if a CRA violated any of the legislation’s consumer protection provisions. These rights include the right to be told if information in your file has been used against you, know what’s in your file, ask for a credit score, and dispute inaccurate credit information. CRAs must also investigate and delete inaccurate credit transactions, may not report outdated negative information, and cannot send credit information to your employer without permission. Victims of identity theft also have additional rights. An experienced FCRA lawyer can review your credit report and help you determine whether you have a valid legal claim.
If you have a valid claim under the FCRA, one of two litigation deadlines may apply under 15 U.S.C. § 1681p. The general statute of limitations to file an FCRA lawsuit is two years from the date you discovered the violation or five years from the date of the actual violation, whichever is sooner. This means that if you pulled a credit report and saw inaccurate negative information, you generally have two years from that date to file litigation. You may not file a claim more than five years after the violation occurred, even if you did not discover the error until after this deadline has passed. For example, if you discover an error four years after the inaccurate reporting, you only have one year left to file the claim, not two.
A consumer protection lawyer can help calculate the statute of limitations applicable to your case and hold CRAs responsible for your damages. The statute of limitations could start as soon as you receive constructive knowledge of the violation, such as when you pull your credit report and contact the Law Offices of Jibreal S. Hindi as soon as possible to protect your right to compensation. Call our dedicated consumer protection team today at 844-542-7235 or connect with us online to schedule an FCRA consultation.