COMMON CREDIT REPORT ERRORS
Every consumer knows the importance of a good credit report and a higher credit score. Credit reports and credit scores impact everything from interest rates on loans, employment, security clearances and insurance. According to the Federal Trade Commission, one in five consumers has a significant error on at least one of their credit reports. If you are the victim of credit report errors, you can dispute these inaccuracies and know that experienced credit report lawyers can help you if Equifax, Experian, and Trans Union do not fix your credit report inaccuracies.
Credit Report Errors Involving Inaccurate Name and Address
One of the more dangerous mistakes that can appear on your credit file is inaccurate name and address information because these two types of mistakes can be the sign of either a mixed credit file or identity theft. In a mixed credit file, a consumer’s financial information can be mixed up with another consumer’s financial information. This can occur if you have similar names or addresses with another consumer—which may cause issues where the other individual’s data becomes accidentally associated with you.
Identity Theft Warning Signs
As for identity theft, inaccurate name and address information can be a warning sign of identity theft. Identity thieves can use variations of a consumer’s name and associated addresses as part of the identity theft. If you review your consumer credit report and see inaccurate addresses, you should carefully review the account section to make sure that you recognize all the accounts identified. If you think that you may be the victim of identity theft, you should consult an identity theft credit report attorney immediately.
Credit Report Errors Related to Account Status Information
Other consumer credit report errors include inaccurate credit reporting of account status information. This can occur if you closed an account that a creditor continues to report open or the creditor has sent you a letter that it would correct inaccurate late payment information, but the creditor continues to associate those payments with your credit report. This is another reason that you would want to contact an inaccurate credit report lawyer.
Duplicate Accounts and Other Common Credit Report Errors
Sometimes Equifax, Experian, and Trans Union will report the same debt twice on your credit file. This type of data management error can make your credit report appear as if you have more credit obligations than what is really the case. Other types of errors include incorrect balances, incorrect bankruptcy status information, and the failure to reflect that you paid off previously owed debt. These types of errors can seriously impact a consumer’s credit score and ability to obtain new credit at the best available interest rates.
Legal Help for Consumers Facing Credit Report Errors
Blankingship & Christiano helps consumers dispute and correct objectively inaccurate information on their credit reports. If you are the victim of inaccurate credit reporting, please contact us for a free consultation.
