Credit Blog

I stepped out of the elevator right around 8:30 on the morning of September 11, 2001. A few minutes later, I crossed the maze of cubicles that filled the interior of our floor and walked into the office of a colleague. His wife was very pregnant.

There is no definition of the phrase "reasonable investigation" in the Fair Credit Reporting Act.  So the jury's answer to that dispositive question will largely depend on how well your attorney presents your case.  

Procedures followed by credit bureaus like Equifax, Experian, and TransUnion are often less than what is reasonable to assure maximum possible accuracy.  A common result of flawed procedures by the credit bureaus is what is known as a mixed file.

The FCRA specifically permits consumers to dispute responsibility for fraudulent credit card charges directly to the credit bureaus that are reporting those charges (generally Equifax, Experian, and/or Trans Union). If a consumer's dispute of fraudulent credit card charges is "verified" (meaning that the furnisher and/or CRA has found the reporting to be accurate), the consumer then has a case that is ripe for filing in federal court pursuant to the Fair Credit Reporting Act. 

Be sure to consult a qualified credit lawyer - Sherman & Ticchio or another member of the National Association of Consumer Advocates - about FCRA litigation requirements, options, and the damages to which you may be entitled. 

Consumers may (or may not) be surprised to learn that inaccurate information is often re-reported, even after it was deleted. In a very real sense, consumers who “win” the dispute with the credit bureaus are in nearly the same position as those who lose. Both types of consumers have to be wary about applying for credit...

Unauthorized hard inquiries (a/k/a impermissible pulls) on one or more of your credit reports should set off alarm bells in your head. If you find what you believe are unauthorized hard inquiries on a credit report, you should contact a reputable consumer credit law firm to help you (a) decipher your credit reports, (b) dispute unauthorized hard inquiries directly to each credit bureau that is reporting them, and (c) help you to decide whether to place heightened security measures, such as a credit freeze, on your credit file(s). Most good consumer lawyers are members of the National Association of Consumer Advocates or NACA.

Take these three steps immediately if you believe you are a victim of identity theft (i.e., that an identity thief has obtained access to your confidential personal information and has used or may use your identity for self-enrichment)

Reinsertion can be a serious violation of the Fair Credit Reporting Act.  If you suspect that one or more credit bureaus unlawfully reinserted information into your credit file (if previously disputed and deleted information has reappeared on your credit report(s)), you have the right under the FCRA to again dispute the inaccurate information. A consumer law firm -- Sherman & Ticchio or any other member of the National Association of Consumer Advocates that focuses on credit reporting issues -- can guide you through this process.  

The footnote from TRANSUNION LLC v. RAMIREZ could be significant for individual consumers who suffer legitimate emotional distress from having credit report errors even where there is no publication of inaccurate information via the issuance of a consumer report to a third party. 

Avoid credit repair shops.  Whether it is Sherman & Ticchio or another member of the National Association of Consumer Advocates (NACA), consult with legitimate and reputable consumer attorneys for advice about how to best address your credit problems.

Because the FCRA is a fee-shifting statute, Sherman & Ticchio (and many other consumer law firms) can represent you without charging you a fee for consultation or any out-of-pocket costs to represent you in litigation. Our fees come from the proceeds of your case.

After completing their respective reasonable investigations, your creditors and the credit bureaus also have separate and independent obligations to correct information that they (a) conclude is inaccurate, AND/OR (b) cannot verify is accurate.

Stay away from credit repair shops and other companies that charge a monthly fee.  Your right under federal law -- the Fair Credit Reporting Act -- is to have an accurate credit report.  To enforce that right, consult with a qualified and experienced consumer litigation attorney, whether our firm or another reputable lawyer.  Most are members of the National Association of Consumer Advocates. 

The Seven Year Obsolescence Rule - With the exception of five specific types of information, no negative item (most commonly late payments) can remain on a credit report for more than seven years from the date the account first became negative (i.e., the date of first delinquency)....

Will disputing an inaccurate credit report harm my credit score? No!  And you should consult with an experienced consumer attorney about how to best dispute all inaccurate information on your credit report.

Yes, there are millions of Americans whose credit files are mixed and merged. It is a massive problem, one in which your credit file may be one of those millions of mixed files or a merged files.  We, at Sherman & Ticchio, can help! Blame for mixed files lies squarely with consumer reporting age...

Imagine how staggering a problem truly is baked into the credit reporting system based on (1) the sheer volume of the complaints received and addressed in 2020 by the CFPB and (2) the fact that just a fraction of the public actually checks their Equifax, Experian, and TransUnion credit reports with any degree of regularity.  There is a lesson you can learn here, and it is this -- Regularly reviewing your credit reports with Equifax, Experian, and TransUnion (something with which we can assist you at no cost) is an essential element of maintaining your financial fitness.

Instead of obtaining that white-glove fraud protection and receiving a fast refund of charges made by an identity thief -- in many cases obviously fraudulent charges -- too many people are told that the bank has conducted a thorough investigation and determined that the consumer either made the allegedly fraudulent charges or authorized them. 

"Credit lawyer" is a short-hand term for an attorney, like the lawyers at Sherman & Ticchio, who guide consumers through the process of disputing inaccurate items on their credit reports or background check reports and, if necessary, file federal lawsuits on behalf of consumers under the Fair Cre...

Per the CFPB (link to resource page here): If you're having trouble making rent payments as a result of the coronavirus pandemic, you're not alone. Federal, state, and local governments are offering help with housing expenses and avoiding eviction. Find out what this means for you, and wh...

Last week, the U.S. Supreme Court heard oral argument on whether and to what extent class members' injuries and standing are relevant to class certification in TransUnion v. Ramirez. The complaint in the district court alleged that TransUnion violated requirements imposed on credit reporting agencies (CRAs) by the Fair Credit Reporting Act (FCRA) in failing to provide consumers with accurate and complete information and a summary of consumer rights.

“With a growing number of lower-income renters competing for a limited number of housing units, the results of a tenant screening report can mean the difference between a renter and their family finding a home or being locked out of the rental market,” wrote Senator Brown.

So, if your background check report includes a New York conviction for possession of marijuana for up to three ounces, your background check report will be wrong once the new law is fully implemented. If you find such a conviction on your background check report, contact Sherman & Ticchio.

"[A]ccording to TransUnion, if a credit reporting agency labels you a terrorist or drug smuggler – with your mistaken identity lying in wait for someone to ask for it and find out - it's simply a case of “no harm done” unless YOU can prove that TransUnion sold this false information to a third party. (They say that they don't keep accurate records of the businesses to whom they sell this information, so you can't ask them.)"