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Credit Related Lawsuits: Who Is Suing and Why?

Written by John Ulzheimer

The Fair Credit Reporting Act (FCRA), the Fair Debt Collections Practices Act (FDCPA), and a variety of other consumer protection statues give you the right to sue your creditors, third party debt collectors, and even the credit reporting agencies if you believe that someone has violated your rights under these Federal laws.

Thousands of credit related lawsuits are filed every year. In fact, as of September of 2015 30% more FCRA lawsuits had been compared with to  the same time frame of the previous year.

Some of these credit related lawsuits arise from legitimate complaints, but many others are nothing more than simple shakedowns. Either way, here are three of the most common claims occurring in FCRA and FDCPA related lawsuits:

1. Illegal Debt Collection Claims

The FDCPA contains a very specific set of rules and regulations that all third party debt collectors must follow when attempting to collect a debt from a consumer. For example, collection agencies are not permitted to discuss your debt with others (except your spouse or attorney), to call you before 8 AM or after 9 PM in your time zone, to lie to you, or to attempt to collect more than you actually owe.

If you believe that a third party debt collector is violating your rights under the FDCPA and you have proof of the alleged violation then an attorney who specializes in these types of cases may be able to assist you.

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John Ulzheimer

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