Large credit reporting agencies like Equifax often include mistakes in an individual’s credit reports. Consumers rightly expect that these errors should be fixed when they alert the agencies.
As a result of mistaken charges reported as delinquencies by an auto lease finance company, Christopher Somma’s credit was damaged. Despite disputing the errors, the credit reporting agencies and the auto lease finance company failed to reasonably investigate and did not correct the mistakes on Mr. Somma’s credit reports.
This case involves 5 parties:
- Christopher Somma – lessee of a Nissan vehicle
- Nissan Motor Acceptance Corporation – the lessor
- Equifax Information Services LLC – credit reporting agency
- Trans Union LLC – credit reporting agency
- Experian Information Solutions, Inc. – credit reporting agency
Mr. Somma leased a vehicle from Nissan and made all his payments on time. However, after the end of his lease term, Nissan added amounts due to his account without notifying him and incorrectly reported these as delinquent payments to the big three credit reporting agencies. In turn, this negatively affected his credit.
After noticing that the delinquencies appeared on his credit reports, Mr. Somma filed complaints to dispute the incorrect entries. In a situation like this, both the credit reporting agencies and Nissan must review the dispute, open an investigation to gather information, and evaluate if their reporting is accurate. Although the agencies and Nissan received Mr. Somma’s disputes requesting deletion of the delinquencies, they failed to investigate and left the erroneous entries on his credit reports.
This case was brought to hold the parties accountable under the Fair Credit Reporting Act and New York Fair Credit Reporting Act. Schlanger Law Group LLP and Mr. Somma are seeking damages against Nissan, Equifax, Trans Union, and Experian for failing to reasonably investigate the errors on Mr. Somma’s credit reports and leaving him with damaged credit.
Many consumers are unaware of what exactly appears on their credit reports. Attorney Evan Rothfarb said, “Many people do not realize that the payments on their auto leases appear on their credit reports. When auto loan servicers provide inaccurate data to the consumer reporting agencies, it can sink an individual’s credit history and make it hard to get loans for future purchases – including homes and autos. It is critical to keep an eye on your credit reports and make sure they accurately reflect your payment history.”
It is important to consistently check each one of your credit reports to ensure that you make all payments on time and catch any errors made by credit reporting agencies. If you have experienced a similar situation with errors on your credit reports, Schlanger Law Group LLP may be able to help you. Reach out to our experienced attorneys today to discuss your case.