If your credit report contains false information, and the credit reporting agencies or furnishers fail to fix it after you dispute it, you may have the right to sue under the Fair Credit Reporting Act (FCRA). One of the first questions people ask is: How much money can I actually recover if I win?
The answer depends on how the law was violated, and how badly you were harmed.
Here’s a breakdown of what’s possible in an FCRA case.
Statutory Damages: Up to $1,000
If the credit reporting agency (or the company that reported the information) willfully violated the law, you can recover statutory damages even if you can’t prove you lost any money. These range from $100 to $1,000 per violation.
A willful violation occurs when a company knowingly or recklessly ignores its responsibilities under the FCRA.
Actual Damages: No Set Limit
If you’ve suffered harm, financially or emotionally, as a result of credit reporting errors, the law allows you to recover those actual damages. This could include:
Higher interest rates or loan denials
Loss of housing or job opportunities
Emotional distress — especially in cases of repeated or egregious errors
Out-of-pocket expenses from trying to fix the mistake
There is no cap on how much you can recover in actual damages, but you’ll need proof to back up your claim. In some cases, actual damages have reached tens or even hundreds of thousands of dollars, especially when the error caused serious and lasting consequences.
Punitive Damages: For Serious Violations
In willful violation cases, courts may also award punitive damages. Punitive damages is money awarded to punish the credit bureau or furnisher and deter future misconduct.
Punitive damages are not appropriate in every case and the burden of proof is high. But when they are awarded, the amounts can be significant. For example, some courts have upheld six and seven-figure punitive awards where the conduct was particularly egregious.
Attorneys’ Fees and Costs: Paid by the Other Side if You Win
One of the most important protections the FCRA gives consumers is this: If you win your case, the credit bureau or furnisher has to pay your legal fees and court costs. This important protection allows people of ordinary means to hire good lawyers and pursue these cases without going broke because most FCRA lawyers take these cases on contingent fees with no up front costs.
Example: How FCRA Damages Add Up
Let’s say your credit report wrongly shows a repossessed car loan that was never yours. You dispute it three times, but the credit bureau never fixes it. As a result, you have to settle for a more expensive rental and spend months stressing over your finances.
A successful lawsuit could potentially recover:
$1,000 in statutory damages if the defendant acted willfully
$10,000 in higher housing costs
$15,000 in emotional distress
Attorney’s fees (covered by the other side)
That’s $26,000+, without even accounting for potential punitive damages.
Bottom Line: You Have Rights. And Options
The credit reporting agencies and furnishers don’t always take consumer disputes seriously. But when they violate the law, you can fight back — and recover money for the harm they’ve caused.
If you've disputed a credit report error and the mistake still hasn’t been fixed, you may have a strong FCRA claim. Talking to an experienced consumer protection attorney can help you understand your rights and what your case might be worth.