You may be aware of your right to dispute inaccurate information in credit reports/background checks with a consumer reporting agency. If there is a legitimate dispute, agencies will often agree to delete a tradeline or report from a person’s report. However, you may have experienced a creditor or credit bureau unwilling to take necessary steps to investigate disputes to convey truly accurate information on a consumer report. Their failure can have huge consequences for you and your family. Inaccurate information on a credit report can limit your ability to obtain a mortgage, car loan, credit card, or some other financing to help you. The federal Fair Credit Reporting Act (FCRA) assists consumers in dealing with these issues.
Rights Under the FCRA
Under the FCRA, a consumer reporting agency must follow reasonable procedures to assure the maximum possible accuracy of the information provided. Information published can be in violation if it is incorrect or misleading, which might affect credit decisions. A credit reporter’s burden to investigate increases when the debtor can prove the information is erroneous with documentary evidence.
Our firm recently resolved a case involving inaccurate information when reporting a bankruptcy discharge on their credit report. They wouldn’t make changes despite filing a dispute and providing the credit bureau with information regarding the discharge. We resolved the case for a confidential settlement of nearly six figures.
Credit reporters will generally return to the party who provided them with the initial information to confirm their data. However, such steps are frequently insufficient to determine that the records are as accurate as they could be. For example, circumstances could have changed, such as an expungement on a criminal conviction or a civil judgment set aside or fully satisfied. Records from courthouses are rarely updated in a timely fashion, and consumer reporting agencies do not always investigate if a person’s record has changed. Perhaps a credit report doesn’t identify a bankruptcy filing. Or possibly there was an issue with the date of delinquency on the report so that the report will not age off within 7 years as required by law.
Representation for Inaccurate Information on a Credit Report
If you’ve disputed a credit report and provided the credit reporting agency with some documentation that indicates that there is inaccurate information, you may have rights under the Fair Credit Reporting Act. Maginnis Howard represents consumers across the Carolinas from our Raleigh, Fayetteville, and Charlotte offices. The firm takes consumer protection cases throughout North Carolina, including FCRA and Fair Debt Collection Practices Act cases. Contact the firm for a free initial consultation to discuss the next steps in getting your credit report appropriately repaired. You can reach our office at (919) 526-0450 or through our contact page.
