The information contained on your credit report will have a direct impact on your life. Without the ability to borrow when necessary, you may not be able to shop, buy a car, rent a home or purchase one. You should always know what is being reported about you because your credit report is the first thing that potential creditors will see when you apply for credit.
According to the Consumer Financial Protection Bureau, you should check your report annually. Federal law legally entitles you to one free credit report per year. However, if you only check once per year, you could be missing key information that could affect you when you are not expecting it. You can get a free credit report from each of the three major credit bureaus, so it would not hurt you to check your credit report more frequently. You should certainly review your credit report if you are about to apply for major financing, such as a mortgage or a car loan.
When you are checking your credit report, it is essential to take prompt action if you see any information on it that you believe to be incorrect. You may have learned that your identity was stolen from reviewing your own report, or creditors may have reported inaccurate information. Regardless of the cause, you can have incorrect information removed by contacting the credit bureau. You may need to hire an attorney to take legal action if the credit bureau is violating federal law. You can file a lawsuit.
Contact a Los Angeles Consumer Rights Attorney Today
The attorneys at Martin & Bontrager help you stand up for your rights when large companies are violating them. To schedule your free initial consultation, you can send us a message online or call us at 323.940.1700.