Credit Reporting Errors

When you apply for a mortgage, car loan, or credit card, lenders typically check your credit report as part of the application process. You may be subject to a credit check when renting an apartment or applying for a job, too. If there are errors or inaccuracies on your credit report, you could be denied credit, housing, or employment. Alternatively, you might be approved under less-than-favorable terms.

Unfortunately, anyone can be the unwitting victim of credit reporting errors. Sometimes, credit bureaus merge records for two or more unrelated people in error or add a consumer’s account information to the wrong person’s record. Errors can happen because financial institutions don’t report information accurately or because credit bureau employees don’t follow established procedures when updating credit profiles.

Regardless of the reason, resolving this type of error with the credit bureaus is sometimes easier said than done. A Stein Saks, PLLC credit reporting lawyer can help you clear your credit report and protect your rights.

Frequently Asked Questions About Errors in Credit Reports

Q: What are some of the most common examples of errors related to consumers’ credit reports?

A: There are many types of issues you may encounter related to your credit report. For example, your report may show accounts or creditors that do not belong to you; inaccurate account opening, closing or payment dates; late payments; unpaid balances; default, charge-offs or settlement information that is inaccurate or incomplete; fraudulent behavior caused by identity theft; inaccurate personal information (such as a wrong address, name, or Social Security number); and other issues that could materially impact your ability to obtain and use credit. A skilled credit report attorney can help you fight these types of violations and clean up your credit report.

Q: Are there credit reporting laws that protect consumers in these situations?

A: Yes, there are laws in place to protect consumers from the potentially negative consequences of errors on their credit profiles. Credit reports fall under the Fair Credit Reporting Act (FCRA,) which was designed to promote accuracy, fairness, and privacy of data that is collected and used by the credit bureaus and financial agencies. This law impacts the credit reporting agencies and financial institutions or other entities that provide information to the reporting agencies. If you were harmed by a credit reporting error, you may be entitled to compensation under the FCRA.

Q: What should I do if there is an error on my credit report?

A: First, it is important to review your credit reports periodically to ensure the information they contain is accurate and complete. You can request one free credit report from each of the three major credit bureaus — Equifax, Experian and TransUnion — once each year. Work with a Stein Saks, PLLC attorney to obtain your free copies. If you find errors on your report, you will need to contact the credit bureaus in writing, explaining what information is inaccurate and providing the accurate data (if applicable.)

Why Work With an Attorney to Fix Credit Report Inaccuracies?

Working with an attorney to fix errors in your credit report can help you through a stressful situation. Your credit report dispute attorney can help you restore your credit profile and work with your creditors and/or the credit bureaus on your behalf to remove inaccurate information and correct errors. If you have tried unsuccessfully to have errors removed and the credit bureaus haven’t fixed the problem, an experienced attorney can be an invaluable resource, holding the credit reporting agency or financial institution accountable for its actions.

The consumer protection attorneys and staff at Stein Saks, PLLC understand how consumer protection laws work. We have helped many consumers fix errors on their credit reports. We help clients defend and correct their credit reputations and we seek to ensure harmed clients are compensated to the full extent allowed under the law. If you believe your credit report contains errors, contact Stein Saks, PLLC to schedule a free consultation with an attorney.