Do you have errors on your credit report?
Let us help you.
Under the Fair Credit Reporting Act (FCRA), only certain (authorized) people can access your credit report, and all information on your credit report is required to be complete and accurate. Unfortunately, many times creditors and credit reporting agencies report incorrectly, which lowers your credit score. This lower credit score can cost you in higher interest rates, denied credit, or denied employment.
Who is incorrectly reporting my credit score?
Credit Reporting Agencies (CRAs) collect information from Data Furnishers regarding a consumer’s account. The three most well known CRAs are Experian, Equifax and TransUnion. Data Furnishers are any entity which provides account information to the CRAs. A typical Data Furnisher would be a mortgage or vehicle lender, credit card company, personal loan lender, or any other entity which may extend you a line of credit. Both Data Furnishers and CRAs can be held liable for inaccurately reporting information about a consumer.
How does the FCRA protect me?
Under the FCRA, you have the right to:
- Order 1 free copy of your credit report with each CRA 1 time per year (this does not negatively affect your credit);
- Dispute any errors listed on your credit report; Have the disputed errors corrected or removed within 30 days;
- Have aged accounts removed from your credit report (7 year maximum for most accounts; 10 years if you have filed bankruptcy);
- Sue for damages if the errors are not corrected or removed.
How do I dispute errors?
The FCRA provides a method for disputing errors with the CRAs. You will need to send a letter to the CRA reporting the error which properly identifies the account you are disputing (both account name and account number), why you are disputing the account, provide any supporting documentation, and provide sufficient information about yourself that you can be identified (full legal name, social security number, and date of birth).
Have you disputed an error which was not corrected? Would you like legal help with the dispute process?
If you would like to speak with an attorney about this process, and how we can help, please reach out to our experienced consumer law attorneys. We are here to walk you through this process and help get your credit score back to where it belongs. Our credit report review service is free of charge.