Suing Credit Agency

Can I sue credit bureaus?

Sometimes you may request reinvestigation of an incorrect item and the credit agency fails to reinvestigate or leaves the incorrect item on your report despite a reinvestigation that showed it to be incorrect. If you are seriously harmed because of it (for example, you were denied a mortgage or were not hired for a job because of it), the Fair Credit Reporting Act gives you the right to sue the credit agency.

What time frame do I have to sue the credit agency?

You have two years after you are harmed by a credit agency’s willful or negligent failure to comply with the law to file a lawsuit against them. Your lawsuit can ask for:

• expenses you have incurred because of the error, such as lost wages, attorney’s fees, court costs
• emotional distress you have suffered
• punitive damages for malicious acts by the agency against you.

You may also sue a credit reporting agency that:

• refuses to disclose your credit information to you
• gives false information about you
• breaks the rules about who they may give your credit report to

You may also sue a creditor who fails to correct billing errors.

What laws are involved when suing credit bureaus and creditors for wrongdoing?

The laws discussed here are federal laws. Many states have their own laws about creditors and credit reporting agencies. You can also bring a lawsuit under your state law if you meet the requirements set forth in the law. You will need to consult an attorney who is experienced in this area of law. Contact your local
county, city, or state bar association for the name of an attorney experienced in these matters in your area. Many attorneys will handle these types of cases with little or no cash up front and will take a percentage of what you win (called a contingency).