When you first spot an error on your credit report from TransUnion, Equifax, or Experian, the solution may seem obvious. Each of the three major credit bureaus provides clear information on its website about how to dispute an erroneous entry on your credit report. You can even submit a dispute directly through the websites. Unfortunately, that process doesn’t always go as advertised and sometimes the only way to correct errors is by suing credit reporting agencies in court.
Although the federal Fair Credit Reporting Act (FCRA) and many state laws impose clear obligations on the credit reporting agencies—to conduct a reasonable investigation into the dispute in a timely manner and then modify, delete or block any information they are unable to verify—the actual process is often quite cursory.
Many people who dispute entries they know to be inaccurate receive form notices telling them that the item has been verified. Some receive no response at all. When that happens, many consumers are unsure what to do next, and the erroneous entries stay. Depending on the specifics, those errors can mean denial of credit, higher interest rates, and even a reduction in credit limit or closure of existing accounts.
The Fair Credit Reporting Act (FCRA) Helps You Fight Back
The FCRA doesn’t just impose obligations on credit reporting agencies and those who furnish information to them. The statute also provides for actual and statutory damages when suing credit reporting agencies or the entities that furnish debt information (such as original creditors and debt collectors) that don’t play by the rules.
Recently, Schlanger Law Group has filed federal lawsuits on behalf of several consumers who have been unable to correct credit reporting entries that were either erroneous or the result of identity theft. These include:
- A suit against the three major credit reporting agencies on behalf of a consumer who was unable to correct erroneous late payment entries on all three credit reports, despite repeated disputes filed in 2017 and 2018.
- A suit against Citizen’s Bank and Equifax on behalf of a victim of identity theft after the bank and credit reporting agency failed to properly investigate fraudulent transactions. The other furnisher and the other two major credit reporting agencies had investigated and corrected similar entries related to the same identity theft.
- A suit against Equifax, TransUnion, Experian, and several information furnishers who failed or refused to properly investigate and correct information after the consumer’s then-boyfriend incurred significant debts in her name without her consent.
We Have Experience Suing Credit Reporting Agencies and Information Providers
If you’ve had trouble disputing items on your credit report when you know they are inaccurate or the result of identity theft, you don’t have to accept defeat. Call (212) 500-6114 or fill out this simple form to learn more about how the law protects you.
