Secure Your Financial Future with San Antonio’s Leading FCRA Lawyers

Taking Credit Bureaus and Lenders to Task for Failing to Maintain Accurate Credit Reports

In today’s world, your credit status serves as a financial passport. It impacts your ability to purchase a home, secure a car loan, or even invest in your education. A flawed credit report can cripple your financial health, resulting in costly interest rates and missed opportunities. Fortunately, the law is on your side.

Should credit reporting agencies refuse to correct errors on your credit report, you have a legal ally in the Fair Credit Reporting Act (FCRA). Here at Shawn Jaffer & Associates representing consumers in San Antonio, Texas, we are committed to ensuring you get the compensation you deserve. Connect with our experienced FCRA attorneys today for a complimentary case review.

📞 (210) 968-0020

Common Issues Plaguing Credit Reports

Stale Information and Its Impact

Both credit reporting bureaus and creditors bear the responsibility of supplying accurate and timely data on your credit report. Violations of this obligation are tantamount to breaking the FCRA rules. Typical lapses include:

• Failing to update a debt cleared in bankruptcy;
• Unjustly refreshing old debts to make them appear current;
• Incorrectly showing a closed account as open;
• Displaying debts or legal judgments beyond the legally permitted period;
• Creating multiple entries for the same account, distorting your financial image;
• Confusing your identity with someone else due to similar names;
• Incorrectly marking you as deceased;
• Reinstating removed accounts after a dispute has been resolved.

Inaccurate or Fragmented Information

Financial institutions and credit bureaus are prohibited from knowingly offering false or incomplete data on your report. Typical issues are:

• Mislabeling a settled debt as defaulted;
• Overstating account balances;
• Wrongly flagging payments as late;
• Attributing unauthorized accounts to your credit history;
• Labeling you as the primary debtor when you’re merely an authorized user;
• Disregarding red flags raised by identity theft;
• Withholding full payment histories or other vital data.

Violations During the Dispute Process

Once a dispute is filed, credit bureaus must conduct a comprehensive investigation. They are obligated to correct or eliminate inaccurate or unverified entries within a 30-day window. Common pitfalls here include:

• Not alerting creditors about your submitted dispute;
• Carrying out insufficient investigation procedures;
• Failing to rectify or expunge inaccurate information within the designated timeframe.

Additional FCRA Violations to Be Wary Of

• Invasion of Personal Privacy
• Unauthorized Access and Use of Credit Reports
• Failure to Distribute Required Notifications

Legal Remedies for FCRA Non-Compliance

Willful Actions

• Unlimited Actual Damages
• Statutory Damages: $100 – $1,000 (proof of harm is not required)
• Punitive Damages: Determined by the court
• Legal Fees and Incurred Costs

Negligent Actions

• Unlimited Actual Damages
• Legal Fees and Incurred Costs

Don’t allow inaccurate credit reports to tarnish your financial prospects. Contact Shawn Jaffer & Associates to restore your credit integrity and safeguard your financial future.