Your credit is the first impression some people have of you. Whether you’re applying for a loan for a new home, buying a car, or trying to sign a lease to rent an apartment, your credit report and what’s on it can have a great impact on almost every facet of your life. In the case of outstanding debt, these credit errors could lead to collection activity against you to satisfy the account.
Some people make mistakes with their credit, and this causes them a lot of trouble when seeking new credit. Even if you’ve been careful with your credit, there may be entries on your report you didn’t know were there that have held you back from achieving your goals in life. These credit reporting errors are more common than you may think.
According to the Federal Trade Commission, the agency that tracks complaints regarding credit reports, more than 20% of all disputes or complaints it receives are directly related to inaccurate credit reports. The most common errors include:
Most credit reporting agencies won’t correct this mistakes on their own, and most of them don’t know they have reported errors on your report. Unless false or erroneous information has been removed from your credit report, it could remain there and become a problem that persists for you the rest of your life.
You may have been told checking your credit can harm your credit score. This is not true. Checking your credit score is considered a “soft check,” which means you can check it any number of times you like without seeing ill effects on your score.
It’s better to check your credit score often, as this allows you to find errors before they become a costly hassle at an inopportune time.
If you discover an error on your report, you may dispute the information with the credit reporting agency. Upon receiving your dispute, the agencies must reinvestigate the entry, starting with contacting the party who furnished the information. This party has five days to conduct its own investigation of the accuracy and completeness of the disputed information and report the results of its inquiry to the reporting agency.
The credit reporting agency has 30 days from receipt of your dispute notice to complete its investigation and take action to correct or notify you of its validity.
If the error remains on your credit report and you are sure it is a mistake, the creditor or debt collector may need to be contacted. This can be a frustrating process for you to endure. In many cases, the creditor or debt collector will not recognize the error. If this is the case, don’t waste another minute fighting these companies on your own. Seek the help of experienced credit error attorneys in Kansas City and St. Louis, Missouri.
Stecklein & Rapp has helped Missouri and Kansas clients cut through the frustration of dealing with companies that unfairly insist on making you pay for something you shouldn’t. Our attorneys work directly with you, and we understand how much your credit means to your reputation. We deal directly with the offending creditors, debt collectors, and credit reporting agencies to help you restore your reputation and credit score to what it rightfully should be.
Stecklein & Rapp doesn’t collect fees from clients because we believe you shouldn’t have to pay for someone else’s mistakes. We leave that to the companies that have harmed or harassed you over debts and errors they have introduced.
If you’re ready to face these errors and put the burden back on those who caused it in the first place, get a free initial consultation with one of our attorneys in Kansas City. Tell us your story. We’re ready to listen.
If you’ve been the victim of a credit report error and can’t get the credit reporting agencies, creditors, or bill collectors to admit their mistake, you need to speak with an attorney. Get a free initial consultation with the capable credit report error attorneys of Stecklein & Rapp in Kansas City, Missouri.