dcsimg $18.6 million awarded to woman for uncorrected credit report errors - indexcreditcards.com

Credit Card Calculators

How long will it take to pay off my credit card?

In the News
  • "As comprehensive a list as you'll find of all the credit card offers on the table now."

$18.6 million awarded to woman for uncorrected credit report errors

by Peter Andrew
$18.6 million awarded to woman for uncorrected credit report errors

When, back in 2009, Julie Miller of Marion County, Ore. noticed errors on her Equifax credit report, she contacted the company requesting they should be corrected, according to The Oregonian. Over the next couple of years or so, she would try on seven more occasions to persuade Equifax, one of the big-three credit bureaus, to fix the mistakes, some of which were serious, and were preventing her getting credit.

Serious consequences of credit report mistakes

On his firm’s website, Justin Baxter, a Portland attorney who was part of the team representing Ms. Miller, described her predicament:

There was damage to her reputation, a breach of her privacy and the lost opportunity to seek credit. She has a brother who is disabled and who can’t get credit on his own and she wasn’t able to help him.

A jury in the Oregon Federal District Court was clearly sympathetic, awarding the plaintiff $180,000 in compensatory damages, and a further $18.4 million in punitive damages. Ms. Miller would be unwise to start spending all that now, as lawyers speculate that Equifax is highly likely to appeal.

Credit reports riddled with errors

In May, we reported recent research from the Federal Trade Commission that exposed just how common significant errors are on credit reports. And that article went on to explain how damaging such mistakes can be. At best, they can mean consumers are forced to pay higher mortgage and credit card rates. At worst, they can cut off credit completely and make it hard to get a new home or job.

If you’re concerned that you may be a victim, or want to find out if you are, check out Five Rules For Correcting Credit Report Errors.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

Published

Share this article with: