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Your credit report contains a considerable amount of information related to your finances and activity as a consumer. The information included in your report can directly influence things like where you can live, whether or not you receive loan approval, and even where you can work. As such, removing incorrect information is essential. However, if a credit reporting agency refuses to remedy their error, understanding your rights is critical. The following blog explores why you may need to take legal action against a credit reporting agency and why connecting with a San Diego County credit reporting error lawyer can assist you through these challenging matters.

Why Would I Need to Sue a Credit Reporting Agency?

When there is incorrect information on your credit report, it is your right as a consumer to have the error removed, as it can heavily impact your credit score. The Fair Credit Reporting Act (FCRA) was established to help ensure that the information included in your credit report is accurate. It allows consumers to dispute any untrue information on their report and requires reporting agencies to investigate the dispute promptly.

Incorrect information that can negatively impact your credit score and loan procurement includes the following:

  • Duplicate loans
  • Incorrect personal information (name, address, Social Security Number, etc.)
  • Listing incorrect account balances
  • Falsely reporting accounts as delinquent
  • Including accounts that should be closed

What Steps Should I Take?

The first thing you must do when you discover incorrect information in your report is to file a dispute with the credit reporting agency. This includes printing a hard copy of the report, circling the incorrect information, and providing evidence as to why it’s incorrect. The agency then has thirty days to investigate and remedy the report or explain why the information is correct.

If they dismiss your dispute or ignore it entirely, filing a new report may seem like the best option. However, sending duplicate reports with no additional information can be marked as frivolous, so understanding the next steps is important.

You’ll want to contact an attorney as soon as possible, especially if they are continuing to provide lenders with incorrect, outdated, or fraudulent information. This is because it can cause significant harm and damages, as you may be denied loans, housing, or jobs. As such, working with an attorney can help you remedy the report while recovering financial compensation, if possible.

If you are currently unsure what to do to get your credit report fixed due to the negligence of a reporting agency, connecting with an experienced attorney from Barthel Legal is in your best interest. Our dedicated team understands the significant impact these errors can have on you as a consumer, which is why we’re committed to helping you achieve the best possible outcome for your circumstances. Connect with us today to learn how we can guide you through these matters.