Common Credit Report Errors
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One in every five Americans has a mistake on their credit report! Many consumers know first hand that credit report errors are, unfortunately, very common, and can be extremely harmful and damaging, not only to your reputation, but can also make your life extremely difficult.
Credit report errors, can keep you from getting a loan or credit, prevent you from getting housing, and even prevent you from getting a job.
5 Common Credit Report Errors
- Outdated information – credit reporting agencies pull your personal information from different databases. The three big credit bureaus, Experian, TransUnion, and Equifax, each use their own databases and they may update them at different times.
- Clerical Errors – these are very common, and can impact your credit score. Always make sure that the details of the accounts on your credit reports are accurate. Make sure all loan and credit types listed are labeled correctly.
- Mistaken or merged accounts – many times your account information may be mixed up with another person’s. This could be because of a same or similar name, or similar address. Make sure that all of the accounts listed on your credit report are your accounts.
- Identity Theft – victims of identity theft will find accounts opened in their name that they have never even heard of or seen before. It is extremely important to check your credit report each year to ensure all of the accounts listed are ones that you have opened.
- Background Check Errors and Employment Report Errors – mistakes found on these reports are generally due to issues with merged or mixed up information, outdated information, or clerical issues. Errors on background checks and employment reports can be some of the most damaging, especially when it causes job loss, resulting in lost wages.
Disputing Credit Report Errors
If you find any mistakes at all on your credit report, it is important that you have them corrected as soon as possible. The first step in disputing credit report errors is to contact the company that issued the report. You will need to write a credit report dispute letter to the company to get the issue taken care of. They will generally respond within 30 days. After the 30 days if the error is proven to be a mistake, it must be updated.
Make sure you keep good records of all contact that you have with the credit reporting company, including copies of all letters that you send.
If you have tried to dispute errors on your credit report and the credit reporting agencies are not correcting the errors, or are not responding to your requests, you may be entitled to damages.
Hire Francis & Mailman to Dispute Credit Report Errors
When there are errors on your credit report it can be difficult to get the errors fixed on your own. The consumer protection law firm of Francis & Mailman is on your side and their team of consumer protection lawyers are ready to fight for you, and make sure you are awarded any damages to which you are entitled. If your credit report has errors and you cannot get them fixed, fill out our quick form or call 1-877-735-8600 for a free case review.