Many of today's compensation laws were in place long before credit reports became such a key personal profile of an individual. Whereas in the past a person would have a personal word-of-mouth reputation among friends, now a credit report is the person's financial reputation in print - a reputation that must be protected to prevent serious financial consequences and loss to quality of life. Credit damage is a special damage consisting of reduced credit capacity, increased out-of-pocket expenses, or loss of credit expectancy because of third-party actions that cause negative information to appear on a client's credit report. When personal injuries or other wrongful acts force people to default on their credit obligations, they suffer financial harm. As most civil litigation attorneys knows, Injury to one's financial reputation is real, not speculative, and it can be objectively measured to add substantial monetary damages to settlements and jury awards.
Damage to credit is a type of injury
Since damage to credit is not a theory of liability, but rather a type of injury no separate cause of action is required. Many employment attorneys know that checking a job applicant credit history is a violation of labor laws,
History of credit damage
Since 1970, the most frequent targets of credit damage complaints are the three national credit bureaus: TransUnion, Experian and Equifax, The second most frequent group of credit damage defendants are collection agencies. Lenders that...
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