Consumer Credit Litigation
If your identity has ever been stolen; if a criminal ever opened accounts under your name; you may be entitled to financial compensation.
The Fair Credit Reporting Act Fair Credit Reporting Act is a federal law passed with your protection in mind. It promotes the accuracy, fairness, and privacy of consumer information. Generally, when a perpetrator steals your identity the banks should take care to ensure you have opened up the
Issues certainly arise when your bank states they have verified your identity as the person who has opened a new line of credit. The FCRA is designed to protect you from these circumstances. If you apply for a loan or try to open up a new credit card, it is possible that the bank or credit bureau will then have difficulty establishing the accuracy of the reported application. Your application could be denied and your credit score could fall. The lasting effects can damage your trustworthiness with major lenders for years to come.
Credit agencies must have certain procedures in place to ensure all information is as accurate as possible, given the results that inaccurate information can cause.
If you are the victim of identity theft and have suffered harm due violations of the Fair Credit and Report Act, please contact the Law Office of Michael L. Billera and Associates for your consultation.