Published On: September 30, 2013

An Oregon woman sued Equifax, won an $18.6 million jury award for credit-report errors that went unfixed for years.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years.
“David and Goliath Smack down”

EquifaxAn Oregon woman who sued Equifax, the credit bureau, has won an $18.6 million jury award for credit-report errors that went unfixed for years.  But the award could be significantly reduced upon appeal.  Jurors found that Julie Miller’s credit, reputation, and financial stability were damaged by Equifax’s failure to correct mistakes in her credit report, despite her repeated complaints to the company, The Associated Press reports.  The award included punitive damages which accounted for roughly 99 percent of Ms. Miller’s multimillion-dollar award.

Ms. Miller attempted to contact Equifax for two years to rectify the mistakes on her credit report, but when her efforts proved futile. She was left with no other recourse but to take Equifax to court.

Think about the information you are giving this stranger: all your financial information, your children’s names, bank accounts and your social security number. You do this without the slightest guarantee that the information will be kept safe.

Ms. Miller had been denied credit by multiple banks because of an Equifax credit report that contained erroneous information about her “Social Security number, birth date, and collection accounts,” report United Press International.  Ms. Miller attempted to contact Equifax for two years to rectify the mistakes on her credit report, but when her efforts proved futile.  She was left with no other recourse but to take Equifax to court.

EquifaxAlthough not every American is likely to sue a credit bureau, Ms. Miller is not alone in her struggle. A recent FindLaw survey found that nearly a quarter of Americans have seen problems on their credit reports.

The jury awarded Ms. Miller about $18.6 million from Equifax: $180,000 to compensate her financial and reputational losses and $18.4 million in punitive damages.  Common sense says that Equifax is likely to appeal the punitive damages award as excessive.  We can only wait to see.

Definitions: Compensatory damages attempt to make a victim whole again from their losses due to a defendant’s actions.  Punitive damages are imposed to punish a defendant, like Equifax, who acted maliciously or with wanton recklessness in causing injuries to the plaintiff.

Read the entire article…

CLICK TO OUR WEBSITE

What can you do to avoid credit problems?  First, obtain a free annual credit report from AnnualCreditReport.com, which links you to all three major credit bureaus, including Equifax.  Second, review each report.  Third, investigate any issues that you find.  Fourth, file a dispute on each item that you are certain is not correct.  But, understand that the disputes go out of the country for review, if any.  You may need to file dispute after dispute.  If you do not get the response after many months of trying, then go down the path that Ms. Miller used – sue the credit reporting agencies.

Also file a complaint with the Federal Trade Commission, and the Consumer Financial Protection Bureau.

By |Published On: September 30th, 2013|Last Updated: May 29th, 2022|

Share this article

About the Author: Diane Drain

Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.

*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*

Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Google Reviews
Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Yelp Reviews
Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Avvo Reviews
Avvo - Rate your Lawyer. Get Free Legal Advice.
Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Alignable Reviews
Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Better Business Bureau
5 / 5

“You folks are the BEST OF THE BEST in Arizona.” M.H.

You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process without you and Jay and God Bless you both always and stay in touch as well. You folks are the BEST OF THE BEST in Arizona.

5 / 5

“My only regret is that I didn’t find Diane sooner.” K.H.

I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the whole process. My only regret is that I didn’t find Diane sooner. If you find yourself in a financial situation that you can’t correct on your own, please Call Diane Drain as soon as possible.

5 / 5

“Filing for bankruptcy can be a stressful life event” R.A.

Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people get their life back on track. I would highly recommend them if you need a bankruptcy attorney.

Related Posts

  • Published On: July 24, 2022

    Want to avoid dishonest debt collectors?  Watch this video from FTC’s Consumer Advice By Joseph Ferrari,July 22, 2022 (reprint from FTC, Consumer Alerts) During Military Consumer Month 2022, the FTC [...]

  • Published On: July 20, 2022

    BEWARE OF THE SECRET COSTS OF USING ‘BUY NOW PAY LATER’!! What You May Not Know About These Services Services like “buy now pay later” now account for $100 [...]

  • Published On: October 25, 2021

    CFPB Confirms Effective Date for Debt Collection Final Rules (Reprint from CFPB, July 30, 2021) The Consumer Financial Protection Bureau (CFPB) today announced two final rules under the FDCPA will [...]

  • Published On: August 29, 2021

    Dirty Little Secret – medical bills are the highest they have ever been and debtor buyers are paying pennies on the dollar to purchase the debts, but then sue the [...]

My intention is to put you back in control of your life
Start with $0 down*. We provide affordable payment plans.

FREE CONSULTATION