4 Types of Damages to Recover under the Fair Credit Reporting Act (2024)

Having a good credit score is essential to take care of many of life’s necessities, such as buying or renting a home or purchasing a car. Since your score can impact many areas of your life, credit bureaus are required by law to ensure the information they report is accurate and error free. If a credit bureau refuses to correct inaccurate information that harms your credit score, you may have grounds to file a claim against the bureau for damages.

If you suspect that your credit report and score are hindering your financial growth, you do not need to take on the credit bureaus alone. A skilled FCRA attorney like Jibrael S. Hindi can help you through the complex dispute and claims process and be your fierce advocate every step of the way. Your lawyer will use their legal expertise to ensure your rights are protected, and your credit report is accurate.

4 Types of Damages You May Be Eligible to Recover under the Fair Credit Reporting Act

If a credit bureau violates the FCRA by reporting and refusing to correct inaccurate information, you can file a lawsuit against the bureau for your losses. The following are the four types of damages you may be eligible to pursue:

Attorney’s Fees

Attorney fee damages are awarded to the consumer to cover the costs of hiring a lawyer. This provision in the FCRA can make holding credit bureaus responsible for their actions more accessible. At the Law Offices of Jibrael S. Hindi, we take cases on a contingency basis, in which we do not get paid unless you recover damages. In other words, you can begin the claims process at no cost to you.

Actual Damages

Actual damages cover the losses you incurred caused directly by the FCRA violation. As long as you can prove the loss, there is no limit to the amount of compensation you can recover. Actual damages include financial loss as well as emotional or medical injuries for the stress the violation caused. Your FCRA attorney can help you collect and organize evidence of your losses so that you can collect all of the damages you are owed.

Statutory Damages

If the credit bureau committed the violation willfully, you might be entitled to statutory damages for each individual violation. The compensation for each violation ranges from $100 to $1,000. If the credit bureau willfully committed one violation, it is not unlikely that there are several more. Your FCRA attorney can review every detail of your credit report to find every violation and help ensure you are compensated accordingly.

Punitive Damages

If the FCRA violation caused excessive harm, the court might order the defendant to pay punitive damages as punishment for their actions. There is no limit to punitive damages. The amount will be determined based on the harm caused by the violation and what it would take to deter the credit bureau from committing similar violations in the future.

Partner with an Expert Florida FCRA Attorney at The Law Offices of Jibrael S. Hindi

Attorney Jibrael S. Hindi is a passionate protector of consumer rights in Fort Lauderdale and the neighboring areas. He has dedicated his legal career to helping clients just like you. If you feel that a credit bureau has violated your FCRA rights, he can help you take the necessary steps to pursue compensation for your losses and rebuild your credit. Our firm takes cases on a contingency basis whereby the firm does not get paid unless a recovery is obtained on your behalf. To get started and schedule a free consultation with a member of our legal team, call us today at (844) 542-7235 or complete our contact form.