When you find an inaccuracy in your credit report, you may feel frustrated and upset, as this report controls many aspects of your financial life. As such, you may file a dispute with the credit reporting agency to fix the inaccuracy. However, when the credit report dispute is denied, you may not know how to proceed. Luckily, a Los Angeles, California credit report lawyer can assist you. Keep reading to learn why you may need to file a dispute and why the dispute may have been denied.
Why Might Someone Need to File a Credit Report Dispute?
When you discover inaccurate information on your credit report, you may find it can severely affect your credit score. As such, you can be denied loans, credit cards, housing, and even insurance. Ensuring your credit report is accurate is crucial. Common issues that can impact your credit score include listing accounts that are closed as open, double reporting balances, or failing to remove discharged debt can all affect your score.
However, other common issues on your credit report include inaccurate personal information. While this does not typically impact your credit score, you may be denied loans as the information on the loan application does not match what’s on your credit report. This can include a misspelling of your name, an incorrect birthday, a wrong social security number, or an outdated address.
What Are Common Reasons for Denial?
If you file a dispute with a credit reporting agency like Experian, Equifax, or TransUnion, you may be dismayed to discover your claim was denied. However, this does not mean you’re incorrect or that the information listed on your account is legitimate. Often, these occur because of simple errors that can be fixed to help ensure your report is accurate.
One common issue that can cause your dispute to be denied is including too many items at once. If you do not clearly explain each claim you want to dispute, it may become unclear and the agency may deny the dispute.
Another reason your dispute may be denied is that you’ve sent in too many at once. While there is no limit to how many claims you can file, repeatedly sending disputes may have your account marked as frivolous. As such, the agencies may deny your claims.
If your credit report dispute is denied, you can resubmit it with new information to help prove your claim. It’s important to note that you should not simply send in the same report. Instead, you should include additional information and documentation that proves the inaccuracy.
At Los Angeles Legal Solutions, we understand how frustrating it can be to find your dispute is denied. As such, we can help you navigate resubmitting a dispute or taking action against an agency that refuses to remedy its errors. Contact our dedicated team today to learn how we can assist you.