Under the Fair Credit Reporting Act (15U.SC. 1681 and following ), you may sue a credit reporting agency for negligent or willful noncompliance with the law within two years after you discover the harmful behavior or within five years after the harmful behavior occurs, whichever is sooner.

Credit report errors are common. 1 out of 2 clients have credit report violations and don’t know it.  Creditors, collection agencies, and credit reporting agencies are mandated to utilize compliance codes when they report your data. That data is often times recorded inaccurately causing lower credit scores and more automated lender denials.

Other credit repair companies have no idea how we do it or are even aware of these violations. They are just paper factories disputing negative information and can’t help you win money while also repairing bad credit.

A recent study by the Federal Trade Center (“FTC”) found that 40 million Americans had errors on their credit reports and 20 million had serious errors on their reports. But only one in five consumers had an error that was corrected by a credit reporting agency after it was disputed. Some of the credit report errors that we see and help correct on a recurring basis include:

  • Stale credit information on credit reports, especially old medical debt.

  • Judgments or tax liens incorrectly reported, including paid judgments and liens that are not reported as satisfied.

  • Incorrect payment histories, which happens often with mortgages and student loans.

  • Bankruptcy information incorrectly reported: debts not being reported as discharged in bankruptcy or falsely reported as being included in bankruptcy.

  • Identity Theft Issues, which often involve theft by relatives, friends, and ex’s.

  • Impermissible credit report requests: requests for credit reports that you did not authorize. This is always a potential problem when you apply for a car loan. Each impermissible hard credit inquiry could decrease your credit score by up to five points.

  • Credit information that is not yours, e.g. information belonging to someone else, including relatives like parents or siblings, spouses and ex-spouses, and complete unknown strangers.

These and other errors could be costing you thousands of dollars by causing you to be charged more for credit, to pay higher insurance rates, to be denied credit, or to lose a job or an apartment. If you have or suspect that you have errors on your credit report, please call or email us today for a free credit report review and consultation.