Am I entitled to damages if someone violated my rights under the Fair Credit Reporting Act?

In today’s world, a person’s credit score is crucial to being able to do anything from renting an apartment to purchasing a car. Consumers are entitled to protections under the Fair Credit Reporting Act (FCRA) since their credit report is so important to daily life. When a party violates consumer rights under FCRA, consumers may be entitled to damages.

Parties Responsible for Damages Under the Fair Credit Reporting Act

Several rules are laid out under the Fair Credit Reporting Act. This includes rules as to who can access the report, what can be reported, how long it can be on a credit report, and what must happen if a consumer disputes the information. Violations of the Fair Credit Reporting Act may result in legal action. Parties who are potentially liable to a consumer under FCRA include the following:

  1. The credit reporting agency, also known as the credit bureau
  2. The party furnishing the information to the credit reporting agencies, whether it is a business or an individual
  3. The entity using the information in the credit report, such as an employer, landlord, or creditor who accesses your report with out 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:

  1. Actual damages. There is no limit to this amount, as long as you can prove the loss.
  2. 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.
  3. Punitive damages, with no limit on how much. Punitive damages are decided by the court overseeing the proceeding.
  4. 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. We are here to help. We encourage you to contact us today for more information at 804-282-7900.