What You Should Know About The Fair Credit Reporting Act

If there is a mistake on your credit report you could find that your life is impacted in multiple ways. A bad credit score could make it hard for you to secure a loan for a car or a home and could even make it difficult to secure a job. Because of these consequences, it is a good idea to take steps to correct the mistakes as quickly as possible. At Donner Applewhite, Attorneys at Law, we help people throughout the St. Louis, Missouri, area get the incorrect information on their credit reports changed.

One purpose of the Fair Credit Reporting Act is to promote the accuracy of the information credit bureaus collect regarding consumers. If a credit report is flawed it could result in a low credit score. The FCRA provides consumers multiple rights, including the right to dispute information found on a credit report that is incomplete or inaccurate.

The law dictates that when information is either unverifiable or inaccurate, the credit reporting company needs to either correct or remove the information. Mistakes can involve multiple things, including:

  • Personal information
  • Incomplete bankruptcy information
  • Incorrect account history
  • Accounts reported as opened that are actually closed

Initiating A Credit Report Dispute

The first step in fixing an error on your credit report is to request an investigation into the matter to be commenced. If a credit reporting company does not address the error, we can step in and help. If necessary, one of our attorneys can file a lawsuit on your behalf to have the matter addressed.

Getting Your Credit Back On Track

Don’t let issues with your credit report go unattended. We can help. Our lawyers understand the FCRA and how it applies to your situation and want to help you make sure that what is out there regarding your finances is accurate. To get started, contact us online, or call us at 314-656-8544.