Attorneys Helping You Fight Errors on Your Credit Report
Errors on your credit report can seriously affect your ability to get a loan or credit card, obtain insurance, or even prevent you from renting an apartment. The law entitles you to obtain your credit report once a year and, if you find mistakes, you have the right to request that the errors be removed. If you provide all the necessary proof but a creditor still refuses to correct the issue, you may be able to pursue a lawsuit and recover compensation.
Located in California, Illinois, Ohio and Pennsylvania, the Law Offices of Todd M. Friedman, P.C. is dedicated to protecting consumer rights. We have helped people all over the country fight credit report errors to have mistakes corrected, and we have also won significant compensation for our clients. In many cases, you as the consumer may not even need to pay attorney’s fees as part of credit report lawsuits.
The Fair Credit Reporting Act Protects Consumers
The Fair Credit Reporting Act (FCRA) protects you from credit reporting agencies, banks and others who report inaccurate credit information and fail to correct errors.
The first step to protecting yourself is to look at your credit report. FCRA allows you to receive one copy of your report for free every year. Official reports can be ordered by visiting annualcreditreport.com, calling 1-877-322-8228. You will need to provide certain personal information when requesting your credit report, including your Social Security number.
Frequent Credit Report Errors
Once you have a copy of your credit report, you will want to review it carefully and look for potential problems. Remember, negative credit information can damage your ability to qualify for housing, jobs and loans, preventing you from living your life to the fullest.
Here are some common errors you should look for as you review your credit report:
- Duplicate accounts: The same account should never appear more than once.
- Old information: Information more than seven years old should not appear on your report.
- Unknown account(s): Accounts you don’t recognize could be a sign of identity theft or a mistake by the credit reporting agency.
- Balances show on account(s) you paid in full: Paid or settled accounts should report a zero balance.
- Balances shows for a debt that was discharged with a 1099-C: You receive a 1099-C when a lender forgives, cancels or discharges a debt, at which point the balance should be erased.
- Balances show for accounts discharged in bankruptcy. Accounts that were part of your bankruptcy should show a zero balance.
- Two entities reporting the same debt: If your original creditor sells the debt to another party, the debt should only be reported by one of them, not both.
- Short sale reported as foreclosure. Agencies frequently misreport short sales as foreclosures.
Disputing a Credit Report Error and Going Further When Needed
If you find errors on your credit report, you are entitled to dispute the issue. The dispute must be in the form of a written letter sent to the credit reporting agency (Transunion, Equifax or Experian, or all of them if they all contain errors). Our attorneys would be happy to help you properly dispute any error you find.
If the credit reporting agency investigates the issue and refuses to correct it, then you may have a basis for a lawsuit. If the lawsuit is successful, you may recover compensation and attorney’s fees, in addition to having the error removed from your report.
Find Out More About Your Rights Under the FCRA
The Law Offices of Todd M. Friedman, P.C. can help you fight credit report errors. Please call 1-877-619-8966 or contact us online to arrange a meeting with our attorneys to discuss your specific concerns and find out how we can help. With offices in Southern California, Illinois, Pennsylvania and Ohio, we are able to assist clients with credit report issues in multiple states.