Both Credit Reporting Agencies (CRAs) and entities reporting information to CRAs are required to correct inaccurate or incomplete information in your credit report in accordance with the Fair Credit Reporting Act (FCRA). Errors can seriously impact your creditworthiness and ability to qualify for insurance, credit cards, and more. Sometimes, credit report disputes get complicated, and you may need to file a lawsuit to sort out the situation.
Fortunately, there are experienced credit report dispute attorneys who can help you navigate disputes and get you back on the road to an accurate and updated credit record. Here at Phillips Law Group, our team may be able to direct you to the right legal professional to file a claim and receive compensation for your losses.
Credit Report Disputes: Taking Action
You can request a free copy of your credit report once a year, and it’s a good idea to stay on top of this information. You are also entitled to request an additional copy if a company has taken adverse action against you.
Unfortunately, there are sometimes errors in credit reports. If you discover errors, you need to notify the credit reporting agency (CRA) in writing, clearly identifying the disputed item, the reason for the dispute, and providing supporting documents. You will have to request correction or removal of the information, and unless the dispute is deemed frivolous, the CRA must investigate within 30 days.
If the dispute is ultimately resolved in your favor, all major CRAs must update your report with accurate information. If not, you can request a statement of the dispute to be included in your file. Notably, disputed information cannot be reinserted into your file without verification of its accuracy.
Finally, the CRA must notify you of the results and provide an updated copy of your credit report if changes were made. At your request, the CRA must inform anyone who received your credit report in the past six months of any corrections.
If you present proof of inaccurate information and creditors still refuse to remove the error from your credit report, you may be able to file a lawsuit and receive compensation. Contacting a lawyer who is experienced in handling credit report disputes may be your best bet if you’re not getting anywhere resolving the situation on your own.
Specifically, if you were denied a loan or mortgage after identifying incorrect data on your credit report, and you disputed the incorrect data with the Credit Reporting Agency (CRA) in writing, but the CRA did not investigate and/or correct the disputed data, please give our firm a call to discuss your situation.
Working with Phillips Law Group
If you need assistance in disputing inaccurate or outdated information in your credit report, call Phillips Law Group. In certain cases, you may need legal representation to repair your credit and we may be able to assist.
Please call our firm at 602-222-2222 to learn more today and to speak with a member of our team in a free, no-obligation consultation. We can discuss your legal options in this confidential evaluation and determine your best next steps to restore your credit. Contact us now to find out more!
(602) 222-2222 
