Reviewed by Laurence P. Banville, Esq.Frequently asked questions
Can I sue for false credit reporting in New York?
Yes. Under the federal Fair Credit Reporting Act (FCRA), you can sue credit bureaus and furnishers who report inaccurate information after failing to correct it. New York also has its own consumer protection laws that may provide additional grounds for a claim.
What damages can I recover in a false credit reporting lawsuit?
You may recover actual damages (lost loans, higher interest rates, emotional distress), statutory damages between $100 and $1,000 per violation, punitive damages for willful violations, and attorney fees under the FCRA.
How long do I have to file a false credit reporting lawsuit in New York?
FCRA claims must be filed within two years of discovering the violation, or five years from the date of the violation, whichever is earlier. Separate NY state law claims may carry different deadlines, so consult an attorney promptly.
What steps should I take before filing a false credit reporting lawsuit?
Dispute the error in writing with the credit bureau and furnisher, keep copies of all correspondence, and document any financial harm caused. If the error is not corrected within 30 days, you likely have grounds to sue under the FCRA.