Mississippi Credit Report Dispute Lawyer
Like it or not, few documents that describe a person’s life are as important as a credit report. Credit reporting bureaus provide a snapshot of a person’s financial and personal data, and creditors rely on this information when deciding to issue loans, offer an apartment for rent, or offer a job.
For these reasons, an accurate credit report is vital to a person’s financial health. Unfortunately, errors in these reports are common and can lead to a deflated credit score and lost opportunities.
A dedicated Mississippi credit report dispute lawyer can help consumers hold credit reporting agencies accountable for failing to provide accurate information about their financial circumstances. With the help of Schlanger Law Group LLP’s legal team, you can compel the credit agencies to fix their mistakes, even where they have initially refused to do so in response to a credit dispute letter.
Common Causes of Credit Errors
A person’s credit report is a combination of their personally identifying data, loan history, and payment records for any active accounts. To compile this information, credit reporting bureaus must collect documentation from various creditors.
A creditor can contribute to a credit report error by failing to provide accurate information to the reporting bureau. For example, mistakes about whether a consumer has made a payment on time or whether an account is still active could ultimately prevent someone from taking out a loan or getting a job.
Credit reporting agencies may fail to update information when they receive it from a creditor. In other instances, the information the credit reporting agency is receiving is precisely what is being conveyed by the creditor but is nonetheless incorrect, e.g. because of identity theft, or a creditor’s sloppy record-keeping. In still other instances, the credit reporting agency may include inaccurate data about a person’s address or Social Security number on a report or even mix up two people with similar names. An experienced Mississippi credit error dispute attorney from Schlanger Law Group can help you pursue damages from negligent and irresponsible credit reporting bureaus and creditors.
Disputing Inaccurate Credit Reports
The Fair Credit Reporting Act is a federal law that requires all credit reporting agencies to implement policies and procedures designed to produce an accurate report, to conduct reasonable investigations when informed that a consumer’s report contains an error, and to fix any information that is erroneous or can’t be confirmed. This includes a consumer’s personal information, payment histories, and open accounts. To meet this requirement, agencies must work with creditors to gather and produce accurate information.
However, it is important to note that credit reporting agencies will often not act on their own to ensure a report’s accuracy, rather – unfortunately – they will usually only investigate a problem if notified by a consumer. To properly start this process, the consumer drafts and submits a dispute letter that clearly identifies the error, demands an appropriate fix, and provides ample evidence to support the claim. This evidence can include a fraud affidavit, a police report, copies of billing statements or other evidence that supports the consumer’s contention that the information on the credit report is inaccurate.
The agency has 30 days to complete its investigation upon receipt of a notice letter. If this does not fix the problem, a credit report dispute lawyer in Mississippi can help you pursue a lawsuit in federal court to demand that the credit reporting bureau fulfill their obligations under the Fair Credit Reporting Act.
Reach out to a Mississippi Credit Report Dispute Attorney Today
An inaccurate credit report can prevent you from taking out a new loan or renting an apartment, and loss of other opportunities, as well. If you live in Mississippi and are having a problem disputing an inaccurate or false entry on your credit report resolved, get in touch with our law firm today to schedule a consultation with a professional.