Many credit bureaus are careless when handling
the credit reports of millions of consumers. Afterall, any mistake
on your credit report could deny you a mortgage loan or a new
car! If you fight against these wrongdoings, you could win good
amount of cash! 1 violation carried out by a Credit Bureau or
a debt collection agency results in a fine of $1000 immediately.
This means you will have an extra $1000 cash in your pocket, and
you are punishing the violators of the Consumer Law. This is a
good thing! By punishing the wrongdoer, you will be protecting
your rights as a consumer, and the rights of millions of other
consumers. In the table that follows, we list the type of collection
agencies or credit bureaus that you can sue, why you can sue them,
the appropriate supporting law and the monetary value of the punishment
$$$.
| Who? |
Why? |
Appropriate Law |
Punishment |
| Creditors |
Inaccurate credit history
entries |
- Financial
Injury & Defamation
- US Court of Appeals, Ninth Circuit, No. 00-15946, Nelson
vs. Chase Manhattan |
Court will decide monetary
value of punishment |
| Creditors |
If you dispute their debt,
and they fail to report it to the Credit Bureaus |
Fair Credit Reporting Act
Section 623. |
$1000 |
| Creditor |
- If creditors check your
credit report without a valid reason.
- Negative entries on your
credit report and negative credit score. |
Fair Credit Reporting Act
Section 604 (A)(3) |
$1000 |
| Credit Bureaus |
If you provide proof of invalid
negative entries on your credit report and the Credit Bureaus
refuse to correct it. |
Fair Credit Reporting Act
Section 623. |
Court will decide monetary
value of punishment |
| Credit Bureaus |
If Credit Bureaus re-insert
a removed negative item from your credit report without informing
you in 5 business days. |
Fair Credit Reporting Act
Part (A)(5)(B)(ii) |
$1000 |
| Credit Bureaus |
If Credit Bureaus fail to
respond to your written disputes within 30 days |
Fair Credit Reporting Act
Section 611 (A)(1) |
$1000 |
| Creditors or Collection Agencies |
If they attempt to Re-Age
your delinquent accounts in efforts to keep the negative items
longer on your credit report. |
Fair
Credit Reporting Act Section 605. |
$1000 |
| Collection Agencies |
If they do not attempt to
validate your debts owed but still pursue debt collection
efforts and harass you. |
Fair Debt Collection Practices
Act FDCPA
Section 809 (b). |
$1000 |
| Collection Agencies |
If you send them a "Cease
& Desist" letter but they still contact you by phone. |
Fair
Debt Collection Practices Act FDCPA
Section 805 (c). |
$1000 |
| Collection agencies |
If they have not done any
validation on your debts owed but still report it to the Credit
Bureaus. |
Fair
Debt Collection Practices Act FDCPA
Section 809 |
$1000 |
| Debt Collector |
If they call you after 9pm
at night or before 8am in the morning. |
Fair
Debt Collection Practices Act FDCPA
Section 805 (a)(1) |
$1000 |
| Debt Collector |
If he calls you at your place
of employment knowing that your boss or your workplace rules
do NOT allow you to receive such kind of communication. |
Fair
Debt Collection Practices Act FDCPA
Section 805 (a)(3) |
$1000 |
| Debt Collector |
Calls an unrelated third party
such as your friends, relatives or neighbours. |
Fair
Debt Collection Practices Act FDCPA
Section 805 |
$1000 |
| Collection Agency |
If they use any type of harassment
or abuse when communicating with you. |
Fair
Debt Collection Practices Act FDCPA
Section 806 |
$1000 |
| Debt Collector |
If they threaten to garnish
your wages, seize your property or have you arrested. |
Fair
Debt Collection Practices Act FDCPA
Section 807 |
$1000 |
