How much money should I ask for in a lawsuit against a credit reporting agency?
Tuesday
I had two negatives items listed on my credit report. They were both incorrect. The accounts were place in collection dispite my numerous disputes with the original creditor and collection agencies. I disputed the items with the Credit Reporting Agency. I provided proof to the CRA that disputes what they were reporting. In turn, they verified the debt. I am suing in small claims court based on FCRA. It was also determined recently by the original creditor they were incorrect in thier reporting of information. In fact, the state utility board has forced them to correct their bill and see the light as I originally complained it was incorrect.
Under the F.C.R.A. it's a $1,000.00 fine for each violation.
Categories: credit reporting
Under the F.C.R.A. it's a $1,000.00 fine for each violation.
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Finance Manager for over 7-years.
$2 Billion sounds good
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A years supply of Starbuck's coupons…
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IF YOU CAN MEASURE YOUR LOSS THAT OCCUR DUE TO THEIR MISTAKE THAT WOULD BE THE AMOUNT YOU SHOULD GO FOR.
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Take this from a guy who has helped a lot of people file FCRA and FDCA lawsuits……
1) The more you try to sue them for, the more aggressive they will fight back. They will send their 1st line attorneys into battle to defend themselves, and unless you have an equal attorney on your side you will lose.
2) You are limited to the amount you can win in small claims court. If you want to go for their throat, you need to go to the next higher court in your jurisdiction, and get a jury trial.
3) Most of the money you win would be in damages, so you need to show the court how their incorrect information damaged you. This is generally in the loss of a loan, employment, or higher interest rates.
4) As Spiff says..the FCRA limits you to $1000 in civil damages, but when it gets into "willfull neglect" you could get more.
Bottom line, if you are planning to "go for their throat" you will need to hire a good civil attorney that specializes in FDCA lawsuits. There are a number of them around the country that will take on such cases on a contingency basis. You pay the initial court costs, they handle your case and take a percentage of what they get.
Good luck….
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The first answer is coorect $1,000.00 per violation.
however, Credit reporting law is relatively unknown and at the small claims level you better bring in the FCRA law and point out the specific violations backed up with your proof of mailing and any written responses they have provided you with.
Do not discuss anything on the phone with the CRA, do it all in writting so you have evidence.
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You need a Consumer Law Lawyer who on top of the
whatever violations he can dig up can add Defamation
Of Character.
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