How to correct and dispute credit report errors...

For years consumers have been reporting enormous headaches and financial losses caused by either fraudulent or  inaccurate data contaminating their credit reports. Their biggest complaint; getting the credit reporting agencies to correct it!

Getting at least one, if not all of the big three credit reporting agencies, Experian, Equifax and TransUnion, to correct erroneous information often takes a literal act of Congress: The Fair Credit Reporting Act. But all to often, that doesn't work either.

We somehow have taken on the roll of an unpaid credit reporting agency employee -a sort of quality control expert - charged with the task of monitoring and repairing their for profit product (our data). Yet it seems no matter how many days, months or years we struggle to make sure our their product isn't sold with defects, we really have little control over it. They continue to minimize the ramifications we suffer when their actions, or in-actions, impact our wallets.  

Today I read about Sharon Ross, a consumer, who for three years now, has battled the big three cra's. She settled out of court with Equifax and TransUnion last year -but apparently, she hasn't been so lucky when it comes to Experian.

Len Bennett along with attorney Jason Krumbein of Henrico County filed a lawsuit last week on behalf of 47 clients -- all from the Richmond, VA area -- all who claim their credit reports contain damaging inaccurate information. In fact, since July, 2010, thirteen lawsuits against the credit bureaus, have been filed in federal court in Richmond, VA alone.

Read more about it here: Credit Report Agencies sued over bad data

It's no secret that case after case has been filed against Equifax, TransUnion and Experian either individually, or collectively, throughout this country. Much like in my own case against the credit reporting agencies, many of these consumer complaints simply contain the same complaints -reporting repeatedly the same violations of the Fair Credit Reporting Act.  

You would think that after being fined by the FTC, paying out countless settlements, facing lawsuits, and jury awards against them, something would be done to change their procedures. But it doesn't appear to be any different now -than it was years ago when studies showed that 1 in 4 credit reports contained errors.

It's important to review your free annual credit reports and dispute any and all inaccuracies or fraudulent accounts.  To order your REALLY free credit reports go to annualcreditreport.com or call the toll free automated line at 877-322-8228.

Then what?
 

• Dispute all inaccuracies in writing

• send dispute via certified mail

READ: How Do I Dispute False Information On My Credit Reports?

In this article you'll learn why you need to put your complaint in writing. You will also find out what needs to be included in your letter to best protect you from continued problems. 
 
For more info on credit reporting issues, read a few earlier blogs below;