can I sue a creditor for false reporting to a credit reporting agency?

I recently applied for a home mortgage loan. My credit scores were fine for getting the loan. When I went in 10 days later the lender ran the report again and the scores dropped so low that I was no longer eligible to buy the home. This was due to a creditor that reported false information to the credit bureaus. I feel I was violated under the FCRA.

Asked on June 11, 2012 under Business Law, Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, the purposeful reporting of false credit scores of a consumer by a creditor causing damages may very well subject the creditor to a legal action similar to a claim for defamation by the person who has been injured.

With respect to the matter that you have written about, I suggest that you consult with a business attorney as to issues of liability, damages and costs to bring a legal action against the creditor who seemingly damaged your credit score on purpose.


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