Credit reports from Transunion, Experian, and Equifax are used to determine everything from your ability to get new credit to the rates that you pay for credit. If the wrong information is listed on your credit report, it can prevent you from getting approved for new credit and possibly have a negative impact on your current accounts through higher interest rates or reduced credit limits.
Where do the Credit Bureaus receive their information?
The credit bureaus receive your information through furnishers. Furnishers are businesses like banks, mortgage lenders, credit card companies, and medical or utility providers that provide data related to account ownership and performance. The furnisher has an obligation to provide the credit bureaus with accurate information.
However, when inaccurate information is provided to the credit bureaus, these errors could lead to a credit denial, a change in current credit terms, or a lower credit score.
How do I check my credit report?
Accurate credit reports are key to your financial health. Check your credit reports frequently. You can request a free credit report from each bureau every twelve months, but there are many ways to monitor your credit files on a regular basis. To check your report, send a credit report request letter to Transunion, Experian, and Equifax.
Seek Legal Help from a Consumer Lawyer
The Fair Credit Reporting Act (FCRA) is a federal law that promotes the accuracy, fairness, and privacy of information that appears in files of consumer reporting agencies. Transunion, Experian and Equifax are the three main reporting agencies.
Violations to a consumer’s rights occur when errors remain on a credit report, or when someone accesses a credit report without the consumer’s permission. Flitter Milz is a nationally recognized consumer protection law firm that pursues matters against the credit bureaus and/or furnishers for violations of the FCRA.
Contact us for a free evaluation of whether your consumer rights have been violated.