Category Archives: Credit Report
How Credit Scoring Models Work
Breaking down the credit scoring models algorithm Most consumers think they have some idea how scoring models work and believe that they have a certain fixed score at any point in time. The truth is that there are dozens of different scoring models and the big three (Experian, Trans Union and Equifax) all use… Read More »
The dirty little secret Equifax, Experian, and TransUnion don’t want you to know about inaccurate credit reports.
Consumer Disputes are Outsourced. Equifax, Experian, and TransUnion all have similar business practices for reinvestigating consumer credit report disputes. The dirty little secret that they do not want consumers to know is that they no longer handle these disputes themselves. Not only do they not actually handle or investigate the disputes, they do not… Read More »
What is the role of a credit report attorney?
Credit repair agencies VS. Legal counsel Credit report attorneys do not engage in “credit repair.” We specifically caution against a consumer engaging a credit repair company that makes false promises of their ability to remove items of credit for an upfront fee. Consumers would be much better served and save money by initiating their… Read More »
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… Read More »
Inaccurate Wells Fargo Credit Report
Wells Fargo paid more than $3.7 billion to settle claims that it harmed more than 16 million consumers. https://www.wsj.com/articles/wells-fargo-reaches-3-7-billion-deal-with-regulators-over-consumer-banking-11671546132. These violations impacted consumers with auto loans, mortgages, and deposit accounts. According to the Consumer Financial Protection Board, Wells Fargo illegally assessed fees and interest charges on car loans and home mortgages. As a result,… Read More »
Fix inaccurate Equifax, TransUnion, and Experian credit reports
Many consumers are frustrated when they try to correct inaccurate items on their credit reports because it is complicated and time consuming. The best process to fix inaccurate credit reports is to mail credit dispute letters to Equifax, Experian, and TransUnion (not on-line) to dispute and fix inaccurate credit information. When making a credit… Read More »
INACCURATE EQUIFAX CREDIT SCORES IN 2022
The Wall Street Journal reported (https://www.wsj.com/articles/equifax-sent-lenders-inaccurate-credit-scores-on-millions-of-consumers-11659467483) that Equifax provided inaccurate credit scores when consumers applied for auto loans, mortgages, and credit cards. Reporting indicated that Equifax sent the inaccurate credit scores from the middle of March 2022 to early April 2022. If Equifax provided a credit score for your credit application during that time… Read More »
AUTO LEASE EXTENSIONS AND INACCURATE CREDIT REPORTS
There are a number of credit reporting issues that can come out of auto leases including erroneous accounting information and inaccurate late payment data. However, the most problematic one that we have seen arises out of lease term extensions. Consumers that don’t want to bother with the hassle of lease turn in and getting… Read More »
HOW DO I CORRECT AN INACCURATE EXPERIAN CREDIT REPORT?
The best way to correct an inaccurate Experian credit report is to send Experian a detailed dispute letter explaining the factual scenario why the information that Experian reports on your credit report is wrong. You should also include any supporting documentation with the credit dispute letter to prove to Experian that the credit reporting… Read More »
INACCURATE CREDIT REPORTS FROM CAPITAL ONE AND CAPITAL ONE AUTO
Blankingship & Christiano have dealt with Capital One in the past and know the issues to examine involving an inaccurate credit report whether it be from inaccurate credit reporting, identity theft, or improper charged off and collection accounts for an automobile loan. Credit reporting errors and inaccuracies with Capital One and Capital One Auto… Read More »