Credit Disputes For Kansas Homebuyers: Attorney Tips For Mortgage Approval – If you are a victim of identity theft, it can be a surreal experience. You didn’t buy that, you didn’t borrow that, you didn’t rent that, and you weren’t in Albuquerque in the first place!
It can also be very expensive and detrimental to your financial future. Being denied mortgages or car loans, predatory interest rates, maybe a lost job opportunity because a potential employer is afraid of your bad credit score. And trying to get the credit reporting bureaus like Experian, Transunion, and Equifax to correct the record so you can get your life back on track is often very difficult.
Credit Disputes For Kansas Homebuyers: Attorney Tips For Mortgage Approval
In the words of one victim of identity theft, “When you are a victim of identity theft, you are put in the position of having to prove who you are to a greater extent than the criminal needs to in order to obtain goods and services. You are treated as if you are trying to get out of paying for something.”
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Spending hours on the phone being passed back and forth between different departments is not uncommon, and neither is submitting all the information you are asked to provide only to not hear from them for weeks or, in some cases, even months later.
Generally, it’s not like the credit reporting bureaus care enough to get it right. Your financial future may be hanging in the balance, but to them you are just another person without much power.
But you have options, and you have ways to get the credit bureaus to take your claim seriously.
In 1970, the US Congress passed a law designed to protect consumers from false information on their credit reports called the Fair Credit Reporting Act, or FCRA. Haven’t heard of it? Don’t worry, many Americans don’t. But it’s true, and it will help you.
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Those first two are the key here. This means that the credit reporting bureaus have a legal obligation to listen and investigate your claim that their information is incorrect. And if they don’t, that you have the right to sue them.
If you’re at the end of your rope and haven’t heard from the agencies weeks or months after you’ve tried to correct your record, now you know: You can sue them.
Can’t afford a lawyer? You can even sue the credit bureaus. Morgan and Morgan’s FCRA attorneys won’t pay a dime until they win for you. Contact them today for your free, no-obligation case review.
More and more Americans are taking advantage of the power this law provides to take back control of their lives. According to Law360, In 2009 there were only 1,403 FCRA cases filed nationwide; in 2018 that number was 3,582. And there were some big verdicts and settlements during that time: a $60 million judgment against Transunion and a $3 million settlement with Equifax.
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Filing a lawsuit to reclaim your identity isn’t anyone’s idea of a good time, but until the system that makes it so easy for criminals to ruin your life is fixed, getting an FCRA lawyer can be their best option. An FCRA case may cause the credit bureaus to take your case more seriously, which may lead to a quicker resolution of your troubles.
And while you can’t get back the hours and hours you spent calling and emailing and digging up old receipts and the money you spent on credit monitoring and other services – and you can’t erase everything that stress and anxiety you are suffering from – you may be able to pay for it.
Hiring an FCRA attorney at Morgan & Morgan gives you the opportunity to hold the credit bureaus accountable and compensate you for your frustration and financial loss.
You don’t have to continue living with bad credit that isn’t your fault. You have the right! Contact us, and tell your friends about FCRA — share this article on your social media channels.
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