FAQs Archive - The Credit Repairmen

Q: How much money can I get if a credit bureau violates my rights?

It depends on the violation type and the harm caused. For negligent violations, consumers can recover actual damages plus attorney fees. For willful violations, statutory damages range from $100 to $1,000 per violation, plus punitive damages, plus attorney fees. Actual recovery varies widely based on the specific case. A consumer law attorney can evaluate your situation.

Q: What is the Texas Deceptive Trade Practices Act and how does it apply to my credit?

The Texas DTPA is a strong consumer protection law that applies when a business uses false, misleading, or unconscionable practices that harm a consumer. It can apply to credit reporting in cases like knowingly false reporting, refusal to fix verified errors, or deceptive collection practices. DTPA claims are complex and best evaluated by a Texas consumer law attorney.

Q: Can I get my own statement added to my Texas credit file?

Yes. Under federal law, you have the right to add a brief consumer statement (typically up to 100 words) to your credit report. This statement appears on your file and is visible to lenders who pull your report. It does not change your credit score, but it can provide context for unique circumstances. Each of the three bureaus has a process for adding a consumer statement.

Q: Is credit repair legal in Texas?

Yes. Credit repair is legal in Texas and across the United States, regulated by the federal Credit Repair Organizations Act (CROA) and Texas state law. Reputable credit repair companies cannot charge upfront fees, must provide written contracts with a 3-day right to cancel, and cannot promise specific score increases or guarantee removal of accurate information.

Q: Do Texas first-time buyer programs help with the down payment?

Yes. Both TSAHC and TDHCA offer up to 5% down payment assistance as either a grant or a forgivable second lien. Most major Texas cities also have their own down payment assistance programs that can layer on top of state programs. Combined, qualifying buyers can sometimes get $25,000 to $60,000 or more in total assistance.