Legal Question in Credit and Debt Law in Michigan
Fair credit act, suing a collections agency
A collections agency has failed to verify its claim against me, and placed an entry into a credit reporting agency (transUnion). I just discovered it, it is 4 years old.
Is it lawful for me to ask them to settle out of court for less than I could get if I sued them under the Fair Credit dept reporting act, or the Fair credit collections act?
Or should I just go ahead and file suit?
1 Answer from Attorneys
Re: Fair credit act, suing a collections agency
It is perfectly legal for you to identify their illegal actions, inform them that you have the right to sue and the law allows for statutory damages, and advise that you would like to give them the opportunity to settle rather than going through the filing of a complaint / lawsuit in which you would be entitled to attorney fees.
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