How Do I Protect Myself From False Information On My Credit Report?
Consumers are often shocked to find accounts they don’t recognize on their credit reports. A lot of individuals have false information on their credit reports and they aren’t even aware of it. They find out quickly enough when they are denied a credit card, car loan, or mortgage. Then they scramble to try to figure out where the account came from and why it’s damaging their credit score. In this article, the Columbus, OH credit report errors and disputes lawyers at Kohl & Cook Law Firm, LLC will discuss errors on your credit report and what you can do about them.
Why credit reporting errors happen
There are many reasons why credit reporting errors occur. These include:
- The process of credit reporting is highly automated through the use of computers. Credit reporting agencies often rely on technology to compile information and then report it automatically to your credit report. It’s not unusual for an individual to find their relative’s debts on their credit report. In some cases, errors happen because someone has a common name like Joe Smith. One Joe Smith’s information can end up on another Joe Smith’s credit report.
- In some cases, debts aren’t necessarily erased after they are paid. This can be very frustrating to a diligent consumer who has paid off an outstanding debt only to find that it’s still listed on their credit report and damaging their credit score. Again, much of what occurs on a credit report is automated, and technology doesn’t always get it right.
- Identity theft is a major cause of false reporting on credit reports. If a bad actor steals your personal information, they can use it to open up credit card accounts. These accounts are then listed on your credit report, and you have no idea how they got there.
How can I protect myself from credit reporting errors?
Many Americans have never taken the time to look at their credit reports. Many more don’t regularly check their reports for new information. Those who want to protect themselves from false reporting should check their credit reports frequently. Below are some suggestions on what you should do to ensure that the information on your credit report is accurate.
- Get your free annual credit report – Federal law entitles every consumer to at least one free copy of their credit report every year. You should take a look at your credit report at least once a year to ensure that the information contained there is accurate.
- Protect yourself from identity theft – You should check your bank and credit card statements regularly. When you spot activity that is unfamiliar, you should report it immediately. Change your passwords regularly. When making purchases online, use a credit card (and not a debit card). Only purchase items from secured websites and keep a close eye out for scams.
- Dispute errors directly with the company – If you notice an error on your credit report, you should dispute it directly with the company. The sooner you act, the better off you will be, and the less impact it will have on your credit score.
- Contact an FCRA attorney – An FCRA attorney can help you take legal action to get false or fraudulent information removed from your credit report. We may even be able to get the credit reporting agency to pay you compensation for wrongdoing and cover your attorney’s fees.
Talk to an Ohio Credit Report Dispute Attorney Today
If you have a disputed account on your credit report, you should contact an FCRA attorney today. They can help get the false account removed from your credit report and perhaps even get you compensation for your troubles. Call Kohl & Cook Law Firm, LLC today to learn more.
