Redmond Law Atlanta Georgia Consumer Protection Attorneys

Consumer Protection

Fair Credit Reporting Act


When a potential buyer starts the process of purchasing a home a first step should be obtaining a copy of his or her credit report. Inaccuracies on a consumer’s credit report can have an impacting effect on the purchase of a new home such as increased insurance premium, increased interest rates or mortgage denial altogether.

Under the Fair Credit Reporting Act (FCRA) you are entitled to request that all inaccurate, incomplete or outdated information be removed from your credit report. If they reporting agency fails remove the inaccuracies then you are entitled to recover damages.

We work with consumers to correct the credit report before they buy or refinance property.

Damages

If incorrect information remains after being disputed then the consumer is entitled to actual damages, statutory damages and potentially punitive damages. In addition to damage awards a consumer can recover attorney fees.

Dodd-Frank Wall Street Reform and Consumer Protection Act

There are a multitude of statutes and regulations that protect consumers from unfair practices of lending and servicing institutions, such as RESPA (Real Estate Settlement Procedures Act), TILA (Truth in Lending Act), Regulation Z, Georgia Fair Lending, Fair Business Practices and Unfair and Deceptive Trade Practices Act

Under RESPA a mortgage servicer has thirty business days (which can be extended to forty-five business days) to take action after receipt of a qualified written request. If the servicer fails to take action then the consumer is entitle to actual damages, potentially additional damages for a practice of noncompliance, as well as, attorney fees.

We work with consumers that feel they have been treated unfairly by their lender or servicing company.

Damages

Under RESPA a mortgage servicer has thirty business days (which can be extended to forty-five business days) to take action after receipt of a qualified written request. If the servicer fails to take action then the consumer is entitle to actual damages, potentially additional damages for a practice of noncompliance, as well as, attorney fees.