The role your credit report plays in your life is critical. The information that comprises your credit score can impact where you live, what loans you can take out, and even what jobs you can obtain in some instances. That’s why discovering errors on your credit report can be incredibly frustrating. Despite the importance of this document, they are often rampant with inaccurate information that can negatively impact your life. As such, it’s imperative to understand the most common mistakes and the steps you can take to have this information removed from your report. The following blog explores these matters and the importance of working with a Michigan credit report error lawyer to help you in the fight to hold the responsible party accountable.
What Credit Report Errors are Most Common?
Understanding the most common credit report errors is critical to ensure you can dispute the inclusion of this information as quickly as possible. Generally, when a credit furnished submits information to the reporting agencies, mistakes can occur. Either the furnished can submit incorrect information or the reporting bureau will input the information incorrectly. Regardless, this mistake can wreak havoc on your life.
Credit report errors typically fall into one of two categories, with the first being inaccurate personal information. When your name is misspelled, your address is outdated, or your social security number is incorrect, it typically won’t impact your credit score. However, when you apply for loans, you’ll find that you may be denied as the information on your application does not match what is on your credit score.
The next kind of error directly impacts your account. This includes matters like incorrectly reporting closed accounts as open, accidentally labeling an account as delinquent, including the same debt twice, listing incorrect outstanding balances, or naming you as an account owner when you are an authorized user. These can directly impact your credit score, so it is imperative to remedy these matters as quickly as possible.
How Can I Have the Error Removed?
If you discover an error on your credit report, it’s important to take the necessary steps to dispute the inclusion of this information to have it removed. Generally, the first thing you should do is print a hard copy of your credit report and highlight the error. You should then write a dispute letter that explains, in detail, the error. You should submit additional evidence to showcase the mistakes and ask that it be removed from your report. Once complete, you should mail the dispute using certified mail so you can obtain a receipt proving the reporting agency received the dispute.
Unfortunately, disputing the inclusion of incorrect information on your credit report can be incredibly difficult, especially when the reporting agencies fail to remedy the matter. As such, working with a consumer defense attorney with Lyngklip & Associates is in your best interest during these difficult times. Our team understands how frustrating it can be to discover errors in your report, which is why our firm can help you fight for the justice and outcome you deserve. Contact us today to learn how we can assist you during these difficult times.
