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Dec 04, 2007 -- Credit bureaus reluctant to correct credit-reporting errors
What you don't know about your credit report can hurt you. But what can really hurt you even more is when you report errors to the credit bureaus and they don't care to update them. Accuracy costs money; the bureaus are only too happy to sell somewhat accurate reports. More than 1 in 4 people have errors on their reports that can lead to higher interest rates, denial of a job and worse. A Florida woman recently sued Equifax because her file was married with someone else's who had bad credit. She repeatedly provided documentation to clear her name. Equifax refused to do anything about it and the company's negligence cost the woman $220,000. When the case went to trial, the jury awarded the woman $2.9 million! Equifax has vowed to appeal, according to The Orlando Sentinel.
Clark says that the laws governing the bureaus don't have enough teeth in them. People should not have to go to the mat and fight repeatedly to get their credit cleared. The problem is that these bureaus are not focused on you and me; they just want to deliver higher value to shareholders. So they won't be accurate unless they're required by law. The sad truth is that there is no way to force bureaus to be accurate -- short of the Florida woman's method. Clark hopes the bureaus get knocked around in the courts so much that their bottom line is damaged and they're forced to change their ways.
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taking a credit debt, not mine,off my credit report
please help! I had an old credit card debt in collection. The last payment was on 04/28/2005. A colection lawyer is attempting to settle. Does this fall outside of statue of limitation? If it does and I opt out to settle, can I get it removed from credit report and how do I do this?
not my bill
when I was 17 and in high school I had my jaw broken had to go to Dr. and hospital,my parents received a paper from the insurance company asking if it was from a car accident they answered no and sent it back, the matter was totally forgotten until I graduated went to college then applied for credit and was turned down ,not because I had never had credit but because the entire bill now 2 years old was on my account, my parents never received anything else on the bill the insurance never paid it although we had insurance, they waited until 2 days after I no longer had insurance under my parents policy to turn it in to the credit buureau, we have finally got the insurance company to say the hospital did not follow thru with billing in a timely matter they did not turn it in until 2 months before it turned up on the report. Meanwhile I am screwed I had to go to my local bank to get an auto loan because know one else will touch me at a higher interest rate of course.I have contacted them the hospital the insurance what else can I do. I wanted to buy a home but not now,it even hurts my renting a house I'm only 21.
credit reporting
i have had a lot of trouble with my credit reports. one report stated i was born in 1919, wrong name, address and etc. contacted all three reporting agencies to no avail. i believe that there should be no credit reporting agencies. in my opinion, if you ask for credit, give three credit references, like it was in the 1960's. if there was a mistake, one could correct it on the spot. what a mess.
Transunion refusing to correct unauthorized "Hard Inquiries"
Transunion has been refusing to correct the "Hard Inquiries" in my Credit Report. I have tried disputing it several times with the Indian folks who come on the line (apparently folks in India know more about Credit Reporting Rules, and FTC, than people who actually reside in the US, which is my first pet peeve against TU). The Reps ask you to contact the "Creditor" who made the hard inquiry - you have to apparently get a letter from the Creditor accepting that it was an unauthorized inquiry and send it to TU in order for them to remove the inquiry - now, which Creditor would be willing to give you such a letter and thereby open themselves up for litigation? Need help - will, sometime in the near future, sue TU for this.
Now coming to Equifax and Cap One - Cap One, in the Credit file sent to me in June 2008, had indicated the date of 1st delinquency as Jan 2002. I pulled another report in Dec 2008, and lo and presto, the date of 1st delinquency was now JULY 2002!!!!!! Have been calling Equifax and Experian about this forever now, and they are refusing to correct their own error in letting a Creditor re-age my account, which is unlawful (unless I misread the FCRA). Would appreciate any tips and help. Apparently, none of the Bureaus have their own report from 6 months ago! Kudos to them, and to us for continuing to put up with this s***!
I have called FTC and filed a complaint with them about Equifax, and have been adviced to seek legal help on this!!! Imagine, FTC, which is supposed to protect us all from such crazy happenings, asking us to seek legal recourse. This is unbeleivably ridiculous!
I have been unsuccessfully trying to get hold of Clark Howard for about 6 months now!
Venkat
correcting credit information
this can't be done!!
Credit abuse
This is a total lack of working for the people. Experian does not correct any wrong information that it puts on your report. They just keep sending papers from different companies for a person to fill out. The police in my town advised me not to send anything to CSC Credit Services in Dallas, TX. since I had already sent everything required to the Atlanta, GA office.
Experian Reporting Inaccurate Information
I recently wrote to Experian to ask them to correct information from my credit report. Due to a wrong social security number, address I never lived a at, and variations in the spelling of my name, I've not been able to secure employment for 2 years now. The information showing is from Pittsburgh, PA but I was living in Texas for 4 years. I believe that my identity has been stolen. Nothing has been deleted that is inaccurate. I say that the government needs to shut the bureau down! A pure example of legalized blacklisting in America.
20+ accounts
I am currently trying to get a house, BUT I have a mortgage, 2 car leases, credit cards, and various medical bills on my credit reports that are not mine. Onmy reports, there are an alias and a social security number that is one number off from mine. I have disputed all of the accounts for 4 years now and nothing has changed. In fact, it is getting worse. I am desperate to fix this situation. Am I really going to have to sue to see some action? Does anybody have any suggestions?
Credit bureaus dishonest to consumers
The free annual reports provided to consumers are not the same ones provided to credit grantors. My free report was all good--nothing negative on it--but when a recent application was denied, it was obvious TransUnion reported things to the credit grantor that were not reported to me. This deception is unethical and misleading to the consumer. How can we begin correcting disinformation in these credit reports if the reporting agencies don't even give us our ENTIRE report?!!
Credit Bureaus Allowed Too Much Power
I find it incredible that these Credit Bureaus have been allowed to obtain this kind of power. I think it is a form of financial slander when the credit bureaus will not correct the errors they have placed on someone's credit report.
Credit bureaus reluctant to correct credit-reporting errors
I quote, "Clark says that the laws governing the bureaus don't have enough teeth in them." unquote. If the government does not care then why should the credit bureaus care at all.
credit report error
My son shares the same first name but different middle intial. Gerald H. Patterson. He had some account one of which was Dell Computers that he didn't pay. They put the negative information on my credit report. I filed the paper work and the information was never removed. I've spent time on the phone, and nothing resolved. My credit score was very high until all this occured. What's really difficult is I am a General Contractor Home Builder and this has effected my loans as well. Most attorney's want a large retainer just to start. I don't know what to do. This has been going on since my son was in elementary school. They placed some of my purchase on his credit report. We should have to change our names to get this to stop. I am 62 and my credit is very important to me.
Experian correction
What is the procedure to let a credit reporting agency know there is an error? If everybody with an unresolved error filed in court, something would change, it would overwhelm the courts.
