Disputing Credit Report Errors
Experienced Consumer Law Attorney in Charleston, SC
Credit reports contain all kinds of sensitive personal information about consumers, including where they live, their payment habits, whether they have filed for bankruptcy, and whether they have ever been arrested or sued. All of this information is used to form a credit score, which has a huge influence on a person’s ability to obtain loans, new lines of credit, insurance, employment, and more.
Credit reporting agencies, including Experian, TransUnion, or Equifax, have a duty to report correct information and are required to take immediate action to correct any inaccuracies when the consumer notifies them of an error. Unfortunately, mistakes happen all the time and many consumers experience great difficulty in getting errors corrected in a timely manner.
Examples of common credit reporting errors include:
- Incorrect name or address
- Mixed account information due to identity theft
- Outdated information
- Incorrect payment status
- Remedied delinquencies not reported as such
- Wrong notations for closed accounts
- More than one delinquent date on an account
If you have one or more errors on your credit report and have unsuccessfully tried to have them removed or corrected, contact Traywick Law Offices to discuss your legal options with a Charleston consumer law attorney.
The Fair Credit Reporting Act
Under the Fair Credit Reporting Act (FCRA), you have a right to dispute any incomplete or inaccurate information in your credit file. Consumers can take the following steps to clean up their credit reports:
- Get a copy of your report and review it carefully for errors
- Write a dispute letter to the credit reporting agency identifying each error and the reason(s) for the dispute (include copies of supporting documentation)
- Send a letter to the credit reporting agency and keep a copy for your own records
Once the agency receives your letter, it is required to either reinvestigate the items you dispute or delete the item in question from the credit report within three days of receiving your dispute.
Taking Action to Protect Consumers
Even a small error on your credit report can have disastrous consequences to your financial health. If you are having difficulty getting incorrect information removed from your credit report, take immediate action. Don’t let an error keep you from obtaining a home loan or opening up a credit card account that you need. Call Traywick Law Offices today to learn more about how our firm can help you.
Contact us today at (843) 343-5092 or fill out an online form and we will be in touch with you shortly.