QUESTION
Do I have any legal recourse against a creditor who erroneously reported negative information on my credit report?
Asked on May 13th, 2016 on Consumer Law - Florida
More details to this question:
I'm a Co-Signer on my wife's student loan. She has been a full-time student during her entire enrollment (no breaks). The lender started sending us student loan bills stating she was not currently enrolled as a full time student and her payments were now 6 months behind. The college contacted the lender and even sent proof showing she has never dis-enrolled. The lender has since reported negative information on both of our credit reports. We have been denied credit several times because of this and I have had my credit limit reduced on one credit card down by 75%, citing that I was now a credit risk because of the indebtedness. We have never missed a payment on a credit. Our FICO scores were 780+. We have proof showing full time student status since she was enrolled in college (2010) and the lender will not remove the late payment/negative information from our credit reports. Do we have a case for Credit Defamation?
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
Not likely as credit defamation has essentially been preempted by the FCRA. You need to dispute thereporting properly under the FCRA (Fair Credit Reporting Act) and then there may be a claim there to pursue if the reporting is not corrected nd reported accruately.
Answered on May 18th, 2016 at 6:58 AM
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