Consumer News

Jury Awards $18 Million for Credit Report Errors

One of the major issues facing consumers today is errors on credit reports.

Sometimes the errors are because items reported by debt collectors.

In other cases, the errors persist after a consumer sent a dispute letter to the credit reporting agencies.

In a recent case, a federal jury awarded a woman over $18 million dollars because of errors on her credit report. The woman testified that she contacted Equifax eight times over a two-year span to correct alleged inaccurate information on her credit report.

She alleged that her report had the wrong social security number, wrong birthday, incorrect accounts in collection, and erroneous accounts. However, it should be noted that Equifax will likely appeal the decision, so it may be years before there is a final decision.

If you believe there is inaccurate information on your credit report, you can use this dispute letter to request an investigation. If you believe you need additional assistance, feel free to contact me.

(photo: http://www.flickr.com/photos/nickwebb/3016498475/)

Debts, the Deceased, and Debt Collectors Calling Family Members

The Fair Debt Collection Practices Act (FDPCA) regulates how debt collectors can act when they are collecting debts from consumers.

A rapidly developing area of debt collection is collecting debts of a deceased individual.

This frequently leads to debt collectors contacting a consumer’s family and friends. If you are being contacted, it’s important to understand your rights against debt collectors.

Harassed by Debt Collectors: Know Your Rights

For a variety of reasons, consumers frequently find themselves contacted by debt collectors.

Maybe there was a family emergency, a spouse lost their job, or a debt collector is calling trying to locate someone else.

Regardless of why a debt collector is calling, it’s important for consumers to understand their rights against debt collectors.

Credit Report Problems are a Major Issue for Consumers

A recent FTC study reveals that credit reports are a frequent source of headaches for consumers.

The Fair Credit Reporting Act provides consumer rights in regards in credit reports, but the sheer number of credit reporting issues is quite shocking.

Notably, items in collection, which are sometimes reported by debt collectors, appear to be a large source of consumer disputes.

Debt Collection Lawsuit: What You Need to Know

debt-collection-lawsuit-debt-collector-consumer Consumers frequently call saying they have been served with a fake debt collection lawsuit.

There’s a really good chance it is a real/actual/consequential lawsuit.

In Minnesota, you can initiate a lawsuit without filing it with the court—it’s called pocket service.

Consumers frequently get confused when they call the courthouse and are informed the court has no record of the case. Again, just because it does not have a court file number, that does not mean it is fake.

It’s still a real lawsuit. And failing to respond will have very real consequences.

Robocalls, Automated Messages, and The Telephone Consumer Protection Act (TCPA)

The FDCPA regulates what debt collectors can and cannot do in their attempts to collect a debt.

Among other no-no’s, debt collectors cannot call you at work once they know it’s inconvenient, debt collectors cannot reveal your debt to third parties, and cannot mislead you about debts past the statute of limitations.

The FDCPA also prohibits excessive phone calls. And if you receive calls to your cellphone, the Telephone Consumer Protection Act provides additional protection.

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