You must dispute inaccurate credit information with Experian, Equifax, and TransUnion individually.
Experian, Equifax and TransUnion do not share data
The three major national credit reporting agencies (Equifax, Experian, and TransUnion) operate as competitors and independent companies that do not share information. While furnishers of credit information (like banks and lenders) have no obligation to report any credit information to the big three, if they do report any data, it has to be accurate. If a consumer discovers that data about them is inaccurate, under the Fair Credit Reporting Act they need to dispute that directly with the credit reporting agency and NOT the furnisher or creditor. While yes you can dispute with the actual furnisher, but if they do not correct it, there is nothing you can do to make them. Why Congress decided to make consumers dispute the information with the credit reporting agencies as opposed to the company that is actually reporting the inaccurate data is unclear, but what is crystal clear is that only disputes sent directly to the credit reporting agencies will authorize any legal remedy if they fail to correct the inaccuracy. Accordingly, step one is to dispute inaccurate file data with each of the credit reporting agencies that is publishing it.
Correcting all three major national credit reports is critical
While not every creditor uses all three credit bureaus, it is important to make sure all three credit reports are accurate so that when you need to use your credit you can be satisfied that Equifax, Experian, and TransUnion are all reporting accurate data about you. Disputing with only one credit reporting agency will not solve the problem if the inaccuracy is reported by all three credit reporting agencies or even just two of them. If one credit reporting agency stops reporting inaccurate credit information, the consumer should keep disputing the inaccurate information with the other credit reporting agencies that are continuing to report the inaccurate credit information. It is very helpful to tell the other two that have not corrected your data yet that Experian (for example) has corrected it and you need the other two to do the same. For additional information about how to handle credit report errors please click this link for a previous blog post. https://www.yourfaircreditlawyer.com/blog/2016/03/how-to-handle-credit-report-errors/ Remember you will need to dispute inaccurate information with Equifax, Experian, and TransUnion independently with a good credit dispute letter.
You may be entitled to damages if your credit report is not corrected
After disputing the inaccurate credit information and they still refuse to correct the data, you may be entitled to damages if a credit reporting agency continues to allow the inaccurate information to report on your credit report. Blankingship & Christiano, P.C. assists consumers who have been victimized by inaccurate credit reporting. Please feel free to contact us to discuss your particular situation.
If you have an error on your credit report and need legal help getting it corrected contact the Virginia Credit report error lawyers at Blankingship & Christiano, P.C. (571) 207-8331 or fill out our contact form to discuss your case.