Like anything, your credit report can contain errors. After all, the people who work for credit companies are humans too, so errors are bound to happen. However, your credit report is an essential document, so ensuring the information on the report is correct is crucial. Familiarizing yourself with the most common errors can help you stay on top of your credit score to ensure you are in good standing. In some cases, you may need the assistance of a Los Angeles, California credit report lawyer who can help you dispute any issues with a discrepancy on your report.
What Are the Most Common Credit Report Errors?
Understanding what to look for on your credit report can help you identify and remedy any errors quickly and efficiently. Generally, errors can appear in three areas – incorrect accounts, reporting mistakes, and personal information errors.
If you notice an account on your report that you never opened, this could indicate that the statement is wrong or that you’ve been the victim of identity theft. When identity theft is not at play, it could be an error on behalf of the reporting company, if you have a similar name or social security number to another person.
However, there are many account reporting mistakes and incorrect personal information can impact your credit report. Inaccuracies surrounding deadlines, payment dates, balances, and the dates accounts are opened or closed can affect your credit score. Also, inaccuracies about your personal information, such as spelling your name incorrectly or accidentally listing you as a felon, can impact your credit score, thus affecting different areas of your life.
What Should I Do if I Find an Error?
Though one minor error on your credit score may not seem like a big deal, it can have drastic effects. For example, you may be unable to secure a car loan or open a credit card.
When dealing with financial issues, always retain copies of letters, emails, and screenshots. If you closed an account, keep the receipt that the account has been closed and the letter confirming the date. This can be beneficial when disputing inaccuracies.
Generally, you should be able to mail proof that disputes errors on your credit report. The company should remedy it and reimburse you for any fees or fines associated with their mistake. However, it is not always that simple, so retaining the help of an attorney is crucial.
At LA Legal Solutions, we understand how essential your credit report is. If there’s an inaccuracy on your report and the credit company refuses to remedy the issues, you shouldn’t just accept that for what it is. Our dedicated legal team can help mend these issues. Reach out today to connect with a competent attorney to keep your credit report clean.
