Inaccurate credit reporting

Inaccurate credit reporting can significantly impact your financial health, affecting your ability to secure loans, housing, and even employment. The Fair Credit Reporting Act (FCRA) is a federal law designed to promote the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. 

Understanding Your Rights Under the FCRA

The FCRA provides consumers with several important rights:

• Access to Your Credit Report: You are entitled to one free credit report every 12 months from each of the three major credit bureaus—Equifax, Experian, and TransUnion. You can access your credit reports at www.annualcreditreport.com
• Disputing Inaccurate Information: If you identify incorrect or incomplete information on your credit report, you have the right to dispute it. The credit reporting agency must investigate your claim, typically within 30 days. 
• Notification of Negative Information: Creditors must inform you if they have reported negative information to a credit bureau within 30 days. 

Common Causes of Inaccurate Credit Reporting

Inaccuracies in credit reports can arise from various sources:

• Identity Theft: Fraudulent accounts opened in your name can appear on your credit report.
• Data Entry Errors: Mistakes made by creditors or credit bureaus can lead to incorrect information.
• Outdated Information: Negative information that should have been removed after the legally mandated period may still appear.

Steps to Address Inaccurate Credit Reporting

1. Review Your Credit Reports Regularly: Obtain and examine your credit reports from all three bureaus to identify any discrepancies.
2. File a Dispute: If you find errors, submit a dispute to the credit bureau detailing the inaccuracies.
3. Contact the Information Furnisher: Reach out to the creditor or entity that provided the incorrect information to have them correct it.
4. Seek Legal Assistance: If disputes are not resolved satisfactorily, consider consulting with a consumer protection attorney.

How Swigart Law Group Can Help

At Swigart Law Group, we specialize in consumer protection and privacy law. Our experienced attorneys are dedicated to helping clients navigate the complexities of the FCRA and address issues related to inaccurate credit reporting. We offer personalized legal strategies to protect your rights and work towards restoring your financial reputation.

If you’re facing challenges with inaccurate credit reporting, contact us today for a consultation. Let us help you take control of your financial future.