Credit Report Error Attorney Manhattan, NY

Credit Report Errors

Credit reports are made to provide a history of consumers’ past use of credit. This includes their track record of submitting payments. Credit reports frequently have errors, causing problems for consumers. Due to this issue, federal law allows powerful recourse to consumers that have issues from credit report errors.

Consumer Reporting Agencies

Equifax, Experian, and TransUnion are the three largest consumer reporting agencies in the U.S. These credit bureaus compile information about a consumer’s payment history submitted by credit card companies, home and auto lenders, and other creditors. The total amount owed to various creditors and credit utilization is the rest of the information that is typically included in credit reports.

Grave Consequences of Errors in Credit Reports

Inaccuracies in your report can have a disastrous impact on your livelihood by preventing you from accessing credit for critical purchases such obtaining a mortgage to purchase a home or financing for an automobile. This is due to the significant reliance placed on credit reports by businesses and lenders. Errors in credit reports may be common, but consumers are still not aware that the law empowers them to have the inaccurate information corrected, and in many circumstances, even entitles them to compensation.

Attorneys can help you restore accuracy to your credit report. They can also help you obtain compensation. In many cases, consumers will not even be responsible for attorney’s fees as part of a lawsuit.

We Can Help You Correct Credit Report Errors and Obtain Compensation

A consumer may be entitled to sue for compensation and a revised credit report if the information is not corrected after a dispute. Monetary damages may include compensation, Attorneys Fees, and Punitive Damages:

  • Compensation 

Compensation can be a result if the report is not corrected after a dispute. This can include compensation for damages for financial harm and emotional suffering. 

  • Attorneys Fees

The law will allow you to recover damages, and be awarded reasonable attorney fees if you’ve been harmed by credit report errors. 

  • Punitive Damages 

Victimized consumers are also entitled to the award of punitive damages. A jury may also be able to increase the monetary award.