Your client is going through a divorce. You’ve done the deep dive—bank records, spending patterns, hidden assets. But something isn’t adding up. There are unexplained charges, suspicious credit report errors, and sudden account closures.
That’s where a consumer protection lawyer becomes not just helpful—but essential.
Forensic accountants are vital allies in financial investigations, especially during high-stakes divorces. But many of the most troubling financial irregularities they uncover—especially credit report mistakes and identity theft—don’t stop with the spreadsheet. They involve violations of federal consumer laws that require financial institutions to reimburse your client and require credit reporting agencies to correct errors.
Here’s why every forensic accountant should have a consumer protection lawyer on speed dial, especially when credit report errors threaten to derail a client’s financial future:
- Identity Theft and Credit Reporting Errors Go Hand-in-Hand
In contentious divorces, it’s not uncommon for one spouse to open credit accounts in the other’s name, rack up debt, or redirect account access. As a forensic accountant, you can spot suspicious transactions and unauthorized activity. But uncovering the fraud is only half the battle. And your client’s best course of action may be claims for reimbursement and damages against financial institutions and credit reporting agencies in addition to or instead of claims about these charges against an ex-spouse.
When false accounts damage your client’s credit report, clearing their name requires action under the Fair Credit Reporting Act (FCRA) and other identity theft protections.
A consumer protection lawyer can:
- Demand that creditors and banks investigate and remove fraudulent accounts
- Sue credit reporting agencies if they fail to correct errors
- Help clients recover financially from identity theft
Without quick legal intervention, credit report errors caused by identity theft can linger for years, damaging credit scores and settlement outcomes.
- Unauthorized Charges Can Lead to Bigger Credit Problems
You may uncover unauthorized withdrawals or questionable transactions. But what happens when the bank denies responsibility or refuses to reverse the charges?
The Electronic Fund Transfer Act (EFTA) protects consumers from unauthorized electronic debits—including those made by a disgruntled ex-spouse. Unfortunately, banks often mishandle claims, close investigations prematurely, or shift the burden unfairly onto your client.
This is where a consumer protection lawyer steps in to:
- Force the bank to properly investigate under federal law
- Trigger regulatory timelines and obligations
- File lawsuits if necessary to recover stolen funds
Unauthorized charges don’t just affect account balances—when they relate to credit cards and other loan products they often lead to credit reporting errors that can cripple your client’s financial standing if not corrected swiftly.
- Credit Report Errors Can Derail Divorce Settlements
Imagine your client is about to refinance the family home as part of the divorce settlement. Suddenly, a tanked credit score—due to unauthorized charges and/or fraudulently opened accounts—jeopardizes the entire deal.
Joint accounts and lingering authorized user statuses are also common causes of credit reporting errors after divorce, and they often slip under the radar until they block critical financial moves.
As a forensic accountant, you might flag the financial inconsistency. But addressing the underlying credit report errors may demand legal advocacy.
A consumer protection lawyer can:
- Send disputes that trigger legal obligations under the FCRA
- Monitor how credit bureaus and furnishers respond
- File federal lawsuits when errors aren’t corrected
- Help recover statutory and actual damages
Damaged credit—whether due to identity theft, unpaid joint accounts, or other divorce-related issues—can jeopardize your client’s future loans, housing plans, and even job prospects could suffer long after the divorce is finalized.
Addressing credit report mistakes quickly and aggressively is critical to protecting your client’s financial future.
Bottom Line: Forensic Accountants and Consumer Protection Lawyers Make a Powerful Team
Divorces are messy. Financial records are complicated. And credit report errors are more common than most people realize.
At Schlanger Law Group, we regularly work alongside accountants to untangle identity theft, unauthorized charges, and credit reporting disasters. We don’t just find the financial red flags—you raise—we help address the problems and restore your client’s credit.
If you’re a forensic accountant, don’t let your clients battle consumer protection violations alone.
