Statman, Harris & Eyrich, LLC Announces Investigation into Credit Reporting Agencies’ Practices in Correcting Errors in Consumer Reports

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The investigation focuses on problems consumers encounter in trying to resolve disputes about the information contained in their credit reports.

The law firm of Statman, Harris & Eyrich, LLC announces an investigation on behalf of consumers into the activity of credit reporting agencies in connection with the agencies’ practices in timely correcting errors in consumers’ credit reports. Credit reporting agencies such as Equifax, Experian®, and TransUnion® track consumer credit history and payment records and analyze the information to determine the risks posed by extending credit to the consumer for any kind of loan. Additionally, credit reports may impact eligibility for rental housing, the amount of deposits required for utility or telephone service, and premiums for auto or homeowners’ insurance. Pursuant to the Fair Credit Reporting Act (FCRA) 15 U.S.C. § 1681 et seq., credit reporting agencies have, in general, thirty days to correct errors on consumer reports.

Specifically, the investigation focuses on problems consumers encounter in trying to resolve disputes about the information contained in their credit reports. Reported information includes financial credit history, civil judgments, liens, and bankruptcies. According to remarks made by Richard Cordray, Director of the Consumer Financial Protection Bureau, on July 16, 2012 during a field hearing in Detroit, Michigan, “the collateral consequences of mistakes can greatly harm consumers. The wrong information may cause them to be denied a loan, to be charged a much higher interest rate, or to be passed over for a job, causing them serious economic hardship.”

Individuals who have been denied credit, denied credit on favorable terms, or suffered other economic hardship due to the failure of a credit reporting agency to timely correct credit reporting errors who wish to discuss this investigation with an attorney, are encouraged to contact Jeffrey P. Harris, Esq. at (513) 345-8181 or via e-mail at jharris(at)statmanharris(dot)com for further information without any obligation or cost.

Statman, Harris & Eyrich, LLC, which has significant experience in complex litigation, including consumer and securities fraud class actions and derivative litigation, has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. http://www.statmanharris.com Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:        Statman, Harris & Eyrich, LLC
        Jeffrey P. Harris, Esq.
        441 Vine Street, Suite 3700
        Cincinnati, Ohio 45202
        Phone: (513) 345-8181
        E-mail: jharris(at)statmanharris(dot)com

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Jeffrey P. Harris
Statman Harris & Eyrich
513-345-8181
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