Can You Sue if a Credit Reporting Mistake Ruined Your Credit?

Mistakes happen, but when a mistake results in ruined credit and it is not caused by any fault of your own, it can be all the more frustrating. If this happened to you, your first step would be to send a letter to the credit reporting agencies to request full credit disclosure. After you receive it, you will have to dispute the error, regardless if it is the lender’s fault. If you fail to follow this protocol, you will not be allowed to sue.

Filing a Lawsuit for a Credit Reporting Mistake

The Fair Credit Reporting Act (FCRA) allows credit agencies between 30 to 45 days, beginning on the day they receive your letter, to respond. If they do not attempt to resolve the issue or do not respond at all, you will have to reach out to The Consumer Financial Protection Bureau. If all of these efforts do not result in some sort of resolution, you can file a lawsuit.

If you exhausted all of your other options up to this point, filing a lawsuit may be the most effective way to address your grievances. An experienced attorney can help guide you through the process and ensure the best possible outcome.

If you can answer yes to the following questions, you stand a better chance of being successful:

  • Did you have a good credit score before this incident?
  • Did the loss of credit cause you harm?
  • Did a company or person do something that damaged your credit?
  • Did you notify them about the issue and attempt to have it rectified?

If you win your lawsuit, under the FCRA, you can sue for statutory damages, actual and emotional damages, and punitive damages.

Speak to an Experienced  Consumer Law Attorney About Your Case Today!

Bad credit is always stressful, but if it was not even caused by your actions, it can feel even worse. Luckily, you can take action to set things right and the legal team at Attorney Joseph P. Doyle can help. Our team has the experience, knowledge, and insight necessary to smoothly guide you through every step of your case.

Reach out to our law firm today at (312) 957-8077 to request a free initial case review with our skilled consumer law attorney to get started on your case.