Legal Question in Consumer Law in Louisiana
I am trying to buy a first time house. Spent all Christmas weekend with a realtor and found my dream house. My credit score last month was in the 700's. However, this month I found that Toyota Corporation submitted a erroneous non payment to the creditors for a loan I don't even have. My credit score has dropped to low 600's and I will not be able to qualify for a loan due to their incompetence. Toyota said they could report the screwup but it would take 90 days for the matter to clear and my credit score would most likely not be up to what it was. What legal recourse do I have? Is there an immediate remedy?
1 Answer from Attorneys
Their actions may be a violation of the federal Fair Credit Reporting Act. That Act grants you damages plus attorney's fees if someone has reported false information against you on your credit report. You can find a great deal of information on the Act online. Just google "fair credit reporting act" and you can find a lot of information on it.
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