Common Credit Report Errors

You rely on an accurate credit report for many reasons. Your insurance premiums, approvals for credit lines, or ability to get a mortgage all stem from these reports by Experian, TransUnion, and Equifax. When your credit report has errors, it can cause problems, resulting in higher interest rates or credit denials, among other things.

Unfortunately, errors are common, and the following are some common errors that consumers identify on their credit reports.

Personal Information

Your credit report might have the incorrect name, address, phone number, or other identifying information. Someone else’s accounts might appear on your report, or yours might be absent because they are on someone else’s report.

Account Status

Inaccurate account statuses can include reporting closed accounts as still open, wrongful delinquencies or defaults, incorrect payment or account opening dates, etc. Some accounts might report twice – all of which can affect your scores.

Your reports might also show the incorrect balances or credit limits for accounts, and having high balances in relation to your limits can adversely impact your scores.

Credit Error Disputes

As soon as you realize there is an error, you need to take action. Disputing errors with credit reporting agencies is no simple task, and a consumer protection attorney can help with the process. We can help report the issue to the credit bureaus, as well as the companies reporting the misinformation. We know how to provide supporting documentation to prove the error and follow up to make sure it is removed and not reported again in the future.

Contact a California Consumer Protection Attorney Today

In modern times, your credit is part of your identity, so you want to preserve the information that determines your credit score. If you have concerns or discovered errors, seek help from Martin & Bontrager, APC. Contact us today to discuss how we can help.