Credit Report Error Attorney Staten Island, NY
The Credit Reporting System Has Widespread Errors
Millions of consumers have substantial errors in their credit reports. Here are the reasons why:
Errors Caused by the Consumer Reporting Agency — Mixed or merged files can occur when a consumer reporting agency or credit bureau puts together the information for two consumers. An individual might notice entries on credit reports that are unfamiliar. This is normally a result of individuals with similar or identical names, addresses, or other information.
Originated by Creditor – Misreported information about a consumer will sometimes occur because the creditor will accidentally enter the information incorrectly. The creditor and the reporting agency have a duty to report payment information correctly, but consumers must take steps to recognize and report these errors to protect their credit reputation.
Identity Theft – It is also normal for a creditor to report information about a consumer as a result of identity theft, even though the consumer was not responsible for the reported accounts. Credit report errors present a serious issue for consumers victims of identity theft.
Attorneys can help you restore accuracy to your credit report. They can also help you with obtaining compensation. Inaccuracies in your report can affect your livelihood by preventing you from accessing credit for critical purchases such obtaining a mortgage to purchase a home or financing for an automobile. Errors in credit reports are common, but consumers are still not aware that the law empowers them to have the inaccurate information corrected. In many circumstances, this entitles them to compensation.
Correcting Credit Report Errors and Obtaining Compensation Is Our Speciality
Consumers can be compensated and have their credit report revised if the information is not corrected after a dispute. Monetary damages can include compensation, attorneys fees, and punitive damages. Compensation can be a result if the report is not corrected after a dispute. This can include compensation for damages for financial harm and emotional suffering. Attorneys fees can be awarded if you’ve been harmed by credit report errors. Victimized consumers can also be entitled to the award of punitive damages.