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When a consumer defaults on a credit card or loan, the original creditor often sells the account to a third-party debt buyer in a bulk transfer. These transactions frequently involve thousands of accounts purchased for pennies on the dollar, but the actual documentation transferred is often minimal. To legally collect, the buyer must demonstrate a…

If a credit bureau ignores your supporting documents in a dispute, you should resubmit them via certified mail and demand a method of verification description. Then, consider pursuing a Fair Credit Reporting Act (FCRA) lawsuit to demand a correction and seek damages for the error. Most people assume that when they send evidence, like a…

If a credit bureau reinserts a deleted account without notifying you in writing within five business days, it may have violated the Fair Credit Reporting Act (FCRA). This failure may allow you to sue for damages and request removal of the error. The Five-Day Notice Requirement Under the FCRA, you have the right to a…

Your credit report is the key that unlocks the door to various financial benefits, such as loans, insurance rates, and more. When there has been a reporting mistake or credit reporting agencies do not properly handle your information, you may be able to file a lawsuit under the Federal Credit Reporting Act (FCRA). However, it…

It is important to protect the health and safety of your credit, as it can make a considerable difference in your financial options. When credit reporting agencies make mistakes on your credit report, it can have a negative or even damaging impact. You will need to report the error as quickly as possible so that…