FAIR CREDIT REPORTING ACT

Our firm assists consumers with correcting errors on their credit report. In Colorado, credit reporting is governed by the federal Fair Credit Reporting Act and the Colorado Consumer Credit Reporting Act.

Common Violations:

  • Reporting that you have filed bankruptcy when you never did.
  • Reporting debts for longer than the law allows.
  • Continuing to report a debt which was discharged in bankruptcy as still due and owing.
  • Accessing your credit report without a permissible purpose.
  • Reporting someone else’s debts on your report.
  • Creditors refusing to report your monthly payments after you file bankruptcy.
  • Continuing to report tax liens long after the liens have been satisfied.

The Dispute Process

In most cases, but not all, it will be necessary to file a dispute with the credit reporting agencies, i.e. Experian, TransUnion, Equifax, etc, prior to commencing litigation.

Once the dispute is filed with the credit reporting agencies, they have to forward your dispute to the creditor and send you the results within 30 days. If the credit reporting agencies do not correct the dispute, they can be sued along with the furnisher for violating the Fair Credit Reporting Act.

Common Mistakes in the Dispute Process:

  • Sending the dispute to the creditor, but not the credit reporting agency.
  • Filing a dispute on the credit reporting agency’s website or over the telephone.
  • Sending the dispute to the wrong address.
  • Failing to attach supporting documentation to allow the credit reporting agency to perform a proper investigation.

Drafting a proper dispute letter can be the key to winning or losing your case. Our firm has extensive experience on drafting dispute letters that leave the credit reporting agencies with little or no defenses to the violation. More importantly, our firm knows exactly what documents to ask for in discovery to prove that the credit reporting agency and/or furnisher failed to perform a proper investigation into the facts.

Damages

Under the Fair Credit Reporting Act, both the furnisher and credit reporting agency can be liable for actual damages, punitive damages, statutory damages of up to $1,000, and all reasonable attorney fees and costs.

Under the Colorado Consumer Credit Reporting Act, the credit reporting agency can be liable for actual damages, punitive damages, statutory damages of $1,000, and all reasonable attorney fees and costs.

Actual damages can include denial of credit, lost credit opportunities, reduction of credit score, inconvenience, postage, transportation, and other damages.

Other Remedies

Often times, these violations can also violate the Fair Debt Collection Practices Act (FDCPA), the Colorado Consumer Code (CCC), the Real Estate Settlement and Procedures Act (RESPA), the Colorado Consumer Protection Act (CCPA), the Bankruptcy Code and other common law torts.

Because our office only practices consumer law, we are familiar with all of these statutes and we will use all of them against the creditors.

If your credit report contains errors, contact the Law Offices of Matthew R. Osborne PC for you free consultation and we can guide you through the process of getting those errors corrected.

Bankruptcy

Truth in Lending Act

Fair Credit Reporting Act

Fair Debt Collection Practices Act

Mortgage Abuses

Litigation Experience


2055 S. Oneida St., Suite 370

Denver, CO 80224

303-759-7018

720-210-9870 fax

info@mrosbornelaw.com

From our law offices in Denver, Colorado, Matthew R. Osborne, PC, serves clients throughout Colorado, including: Arvada, Aurora, Boulder, Brighton, Broomfield, Castle Rock, Centennial, Commerce City, Conifer, Denver, Englewood, Evergreen, Glendale, Golden, Greenwood Village, Highlands Ranch, Lafayette, Lakewood, Littleton, Longmont, Louisville, Morrison, Northglenn, Parker, Sheridan, Superior, Thornton, Westminster, Wheat Ridge, and many more!

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.

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