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Disputing a Credit Report Error

Michael Rapp Jan. 17, 2020

Credit report errors are increasingly prevalent in our modern world, with these errors having potentially serious consequences for consumers as they seek to make major purchases, apply for jobs, obtain lines of credit for loans, and qualify for housing. If your credit record is harmed by an error, you have the right to take action to make things right. The team of experienced consumer credit protection attorneys at Stecklein & Rapp in Kansas City, Missouri can explain more.

Credit Report Errors in the United States

Discovering an error on your credit report is not an uncommon occurrence for consumers in our society, making a regular check of your credit report an increasingly necessary step to take to remain vigilant. A study was performed by the Federal Trade Commission to find out how wide-spread the problem is. The results were eye-opening:

  • The study found that one in five consumers had an error on at least one of their three major credit reports.

  • The study also found that five percent of American consumers had errors on their credit reports that could lead to them paying more for things like auto loans and insurance.

These findings clearly indicate a significant problem with credit report accuracy in the United States among the three major credit bureaus. Though you haven’t done anything to cause it, you may be victimized by these inaccuracies and it can end up wrongfully costing you money and opportunities.

How to Dispute a Credit Report Error

The Fair Credit Report Act (FCRA) is a federal law that was enacted in 1970 to clearly outline how credit reports are compiled and maintained, as well as regulate the accuracy of the reports. In the process of reviewing your credit report, if you find what you believe to be an inaccuracy, here are steps you can take to dispute the error.

  • File a dispute with the reporting agency (Equifax, Experian, or TransUnion). Disputes must be filed with each agency separately.

  • The agency will seek to verify the report. If the inaccuracy is acknowledged, the report can be corrected.

  • If the report information is still left inaccurate, you can file a complaint under the FCRA to seek damages.

  • If the source of the inaccuracy is a third-party collector, you may also have grounds to file a claim through the Fair Debt Collection Practices Act.

As with any financial matter, it is important to pay close attention to your credit report in order to quickly discover a problem. If you find an error and need help pursuing your legal options to make things right, choosing experienced attorneys will make a big difference.

Why You Need an Attorney

When you find yourself in a situation where your financial standing has been negatively affected by an erroneous item on your credit report, you may feel overwhelmed or unsure about how to get things fixed. In these types of cases, rather than trying to go through the process yourself, it is in your best interest to put your situation in the hands of knowledgeable, highly-trained professional attorneys who have been dealing with these issues on behalf of clients for over 20 years. The team at Stecklein & Rapp can explain your options and help you map out a strategy to pursue a favorable result.

Consumer Credit Protection Attorneys in Kansas City, MO

For more than two decades, the experienced attorneys at Stecklein & Rapp (formerly Consumer Legal Clinic, LLC) have been fighting on the side of individuals who have been victimized by false reports, errors in their credit records, and other credit-related challenges. If you are being harassed by creditors or believe your credit record has been damaged by an error that is out of your control, you can turn to Stecklein & Rapp for help.

With locations in Kansas City on both sides of the Kansas and Missouri state line, as well as Lincoln, Nebraska, Stecklein & Rapp have the knowledge and insight you need to make things right and pursue the future you deserve.