LEGAL TIP OF THE DAY: QUESTION: Can you sue or get compensated if I am a victim of Identity Theft? ANSWER: California and North Carolina are the only two states that have made financial identity fraud a felony. Under their state law, they allow victims to sue for up to triple the actual damages, or $5,000, whichever is greater. You may also be able to sue the Credit Bureau or a business for damages. One way to file suit against the bureaus or other entities that disclose your credit information is to use the Fair Credit Reporting Act. In order to do so, you have to establish actual damages. The FRCA does not have a minimum recovery amount for damages. If proving actual damage isnt tricky enough, a Supreme Court decision made it a bit harder. However, you shouldnt be discouraged. As soon as you think you may want to sue, find out what the statute of limitations is in your state and file. To have a chance at successfully filing suit under federal law, you need to make sure you have time to file. Anytime you can assign a monetary value to what you have suffered as an identity theft victim, do it. That can help you prove actual damages under the FRCA.
Posted on: Wed, 30 Jul 2014 14:00:32 +0000
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