(15U.SC. 1681 and following)
You may sue a credit reporting agency for negligent or willful noncompliance 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 even aware of these violations. They are just paper factories disputing negative information and unaware of how to facilitate a financial settlement paid to you for damages for Credit Reporting Errors 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: