Mixed Credit Files: Credit reporting agencies often confuse information belonging to consumers with the same name, especially if they live in the same town. Or, for example, with fathers and sons living in the same home, credit report mix-ups happen very frequently.
Discrepancies Between Credit Bureaus: Very few lenders report to all three major credit bureaus. For example, all three bureaus show an unpaid account by the lender. Then the account is paid off but the lender reports to only two of the three bureaus. Now there are two credit reports that show a “paid” account, whereas the third report is “unpaid.”
Incomplete Data from Creditors: Creditors are often the source for credit report errors when they only provide partial personal data. With only partial names and/or addresses, it’s easy for credit accounts to end up with the wrong consumers.
Bankruptcy Errors: Bankruptcy filers are at greater risk for credit report errors. For example, reaffirmed debs are often reported as $0 and closed. Also, creditors frequently report accounts included in bankruptcy as late or delinquent.
Minnesota Consumers Deserve Clean Credit Reports
According to the FCRA, all consumers have rights to accurate credit reports. However, creditors and credit reporting agencies don’t always make it easy to pursue these rights. Even though these organizations are largely responsible for credit report errors, they often put up resistance when consumers demand their removal.
This is where Credit Repair Lawyers of America can help. Supported by the FCRA, we fight stubborn lenders and credit bureaus with lawsuits – for FREE. Also, in some settled cases, our clients receive payment for damages.