Francis Mailman Soumilas, P.C., recently filed a lawsuit on behalf of a Texas man against Equifax and Transworld Systems in the U.S. District Court for the Eastern District of Pennsylvania, alleging that Transworld Systems violated the U.S. Fair Debt Collection Practices Act (“FDCPA”), and that both companies violated the U.S. Fair Credit Reporting Act (“FCRA”).
The Consumer Financial Protection Bureau (CFPB) is ordering car manufacturer Hyundai Motor Group, to pay customers $19 million for repeatedly furnishing inaccurate information to credit reporting agencies from 2016 to 2020, a violation of the Fair Credit Reporting Act (FCRA). According to the decision, Hyundai knew it was reporting inaccurate information, but failed to correct
Credit reports are crucial and utilized regularly to determine an individual’s creditworthiness to secure financing, loans, employment, housing, credit, and insurance. Negative marks on your credit report lower your overall creditworthiness and score and can follow you for years, affecting a potential lender, landlord, or employer from accepting your applications. Late payment, even one, alter
No matter how cautious you are, identity theft is a real possibility. The Federal Trade Commission (FTC) received over 4.7 million fraud reports in 2020, and identity theft was the top category, making up almost 30 percent of reported cases. Identity theft occurs when someone uses your personal information to file taxes, apply for a
Francis Mailman Soumilas, P.C., recently filed a lawsuit on behalf of a Tennessee woman against Trans Union, LLC, Equifax Information Services LLC, Experian Information Solutions, Inc., and Genesis FS Card Services, Inc., in the U.S. District Court for the Eastern District of Pennsylvania, alleging the companies violated the U.S. Fair Credit Reporting Act. According to
The Office of Foreign Assets Control (OFAC) is a branch of the U.S. Department of the Treasury that administers, implements, and enforces economic sanctions against countries and individuals who are prohibited from conducting business in the United States including terrorists, money launderers, arms dealers and narcotics traffickers. An OFAC alert may appear on your credit report if your name
In November 2016, media outlets across the U.S., including the New York Times, the Wall Street Journal, and the Washington Post, were abuzz with the findings from a new study by Yale University researchers published in the New England Journal of Medicine. According to the study, when a person with health insurance goes to the
The three main credit reporting agencies (CRAs), Equifax, Experian, and TransUnion, recently announced that this summer, they will remove certain types of medical debts from Americans’ credit reports and change how they report these debts. Medical debt is a major concern for many Americans. The Consumer Financial Protection Bureau (CFPB) estimates that more than $88
We’d all like to think that we’re unique. But if we were to judge our uniqueness simply by our first and last names, we’d be disappointed. Some of us might share the same first and last names with hundreds or thousands of other people. According to research from Southern Illinois University, there were 34,269 people
An individual’s credit report is an important document that can dictate the types of purchases they can make in the future. It chronicles their credit history, including any outstanding debts, late payments, or lines of credit taken out in their name. Credit reports are used when a person is looking to make a major purchase