Category Archives: Credit Reports

Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

Credit Bureaus Under Increasing Scrutiny from Feds and Consumers Alike

Posted on by Credit Report Law Group

A little-known governmental entity—the Consumer Financial Protection Bureau (CFPB)—plays a significant, if unnoticed, role in American consumers’ lives. And it could get even bigger. That’s because one of the CFPB’s chief responsibilities is tracking, analyzing, and investigating consumers’ complaints against the national credit reporting agencies. It’s becoming increasingly clear there’s a concern with credit reporting, especially regarding the three major bureaus—Experian, Equifax, and TransUnion.

According to the CFPB, of the complaints they received between January 2020 and September 2021, more than 50% of the complaints were about one of those three firms. The bureaus have been less responsive than in the past. For example, in 2019, 25% of complaining consumers said their issues had been resolved. By 2021, just two percent said their problems were fixed.

Furthermore, the CFPB reported that the largest bureaus didn’t seem to be complying with requirements on how to handle complaints. They relied on boilerplate responses that didn’t suggest any meaningful investigation or resolution on the bureaus’ parts. TransUnion and Equifax were said to have relied on sending complaints to a dispute channel rather than seeing if the customer had a legitimate grievance.

What’s significant to realize is that these pro forma responses suggest that these credit bureaus are abusing their monopolist hold on consumers’ financial well-being. The bureaus amass data that determines if someone will be eligible for a mortgage and how much interest they’ll pay on a credit card. It may determine whether someone can rent a place to live or get a job. Yet there’s little evidence that the bureaus care if that data is wrong, even when the stakes for individuals are so high.

Whether this leads to further regulation or other action is unclear, but the CFPB is troubled by the findings. CFPB Director Rohit Chopra was quoted as having said, “America’s credit reporting oligopoly has little incentive to treat consumers fairly when their credit reports have errors. Today’s report is further evidence of the serious harms stemming from their faulty financial surveillance business model.”

If you need help dealing with a credit bureau about errors on your report, contact an attorney at Credit Report Law Group who specializes in representing clients like you—a lawyer who can help you repair your record and obtain compensation for any damages you sustained.

Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

Is There Help Coming for Consumers Impacted by Hurricane Fiona and Ian?

Posted on by Credit Report Law Group

It was clear from the stunning news footage and other coverage that Hurricane Ian and Hurricane Fiona caused enormous physical damage to their communities. Houses were leveled, businesses were left in rubble, and streets became rivers. But, as people lose their homes and jobs or have to wait until insurance checks arrive, the bills somehow still come on time. And the resulting financial struggles may continue long after the news crews have departed. That’s why 26 organizations—from consumer advocacy groups to construction associations—joined forces to ask for the hurricane-related debt to be omitted on consumers’ credit reports.

In a joint letter sent to the heads of seven federal offices, the organizations made the case that consumers impacted by the recent hurricanes should not also suffer from related damage to their credit reports and credit scores.

Currently, lenders have the option to put a natural disaster code (AW) on accounts, but in their letter, the organizations say that lenders aren’t consistent enough in complying with this practice. Further, even when it is followed, it doesn’t sufficiently protect a consumer’s credit score.

Therefore, the signatory organizations proposed that the federal government actively discourage lenders and vendors from reporting negative information to the three nationwide consumer reporting bureaus (Equifax, Experian, and TransUnion) for those living within designated areas as presidentially-declared disaster zones.

If that was unacceptable, the organizations argued that the current reporting exemptions implemented for the Covid pandemic relief also apply to the hurricane victims—so lenders would keep the same reporting status for any who received a hurricane-related accommodation (e.g., a forbearance or deferral).

While the outcome of the proposals is unclear, it’s a reminder that those impacted by natural disasters can cause more financial harm than what meets the eye. And those hidden effects may also devastate a family’s financial well-being.

That’s why you should contact an attorney at Credit Report Law Group who represents clients like you. They can also help end debt collection harassment, work on debt defense, and help you with credit repair. If you have any issues with credit-related concerns, talk to a lawyer who can help you repair your record and obtain compensation for any damages you sustained, so you can move on and rebuild your life in the best way possible.

Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

What Do I Do? My Credit Report Says I’m Dead

Posted on by Credit Report Law Group

Last year, a 91-year-old Marylander had the shock of her life. She discovered that, according to the Social Security Administration, she was already dead. This wasn’t just comical. It immediately impacted her life because, since she was “dead,” she was no longer eligible for the retirement benefits that she lived on. And she isn’t the only person this has happened to. Each year, the Social Security Administration incorrectly reports that about 13,000 people are dead.

And similar issues happen with credit bureaus. The credit bureaus, too, prematurely issue death notices that impact people’s lives. If you’re finding yourself in that position, here’s what to know:

Why Might This Have Happened?

It could be that there was an error on the part of Social Security or another agency, and that information was subsequently furnished to the credit bureaus.

But other reasons why a credit bureau may mistakenly believe that you’re dead are often the same reasons for other errors in their credit report:

It could be a case of mixed files—your record includes information from someone else (often a relative or someone with a similar name), and that person has deceased.

It can also happen if you’ve been a victim of identity theft. For example, it could be that someone who died had been using your identity, or they could have submitted a false death certificate in hopes of getting some benefit (such as a life insurance policy payout).

Do I Need to Worry About This?

Once you get past the initial surprise of being told you’re dead, you might wonder if an incorrect death note in a computer file matters—particularly since you’re right there in the flesh.

It does matter. With a death flag on your credit report, you are unlikely to get any mortgage or loan. Your credit score may also drop. Yes, even though you are standing there, live, and in person, potential lenders may be concerned that you are the person who is committing identity theft or is otherwise playing fast and loose with financial records.

That’s why, if you need help with a wrong death flag or any other incorrect information in your credit file, don’t wait. Contact an attorney at Credit Report Law Group who specializes in representing clients like you—a lawyer who can help you repair your record and obtain compensation for any damages you sustained. Don’t let a wrong note in a credit report impact the life you’re living!

Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

What Do I Do? My Credit Report Says I’m Dead

Posted on by Credit Report Law Group

Last year, a 91-year-old Marylander had the shock of her life. She discovered that, according to the Social Security Administration, she was already dead. This wasn’t just comical. It immediately impacted her life because, since she was “dead,” she was no longer eligible for the retirement benefits that she lived on. And she isn’t the only person this has happened to. Each year, the Social Security Administration incorrectly reports that about 13,000 people are dead.

And similar issues happen with credit bureaus. The credit bureaus, too, prematurely issue death notices that impact people’s lives. If you’re finding yourself in that position, here’s what to know:

Why Might This Have Happened?

It could be that there was an error on the part of Social Security or another agency, and that information was subsequently furnished to the credit bureaus.

But other reasons why a credit bureau may mistakenly believe that you’re dead are often the same reasons for other errors in their credit report:

It could be a case of mixed files—your record includes information from someone else (often a relative or someone with a similar name), and that person has deceased.

It can also happen if you’ve been a victim of identity theft. For example, it could be that someone who died had been using your identity, or they could have submitted a false death certificate in hopes of getting some benefit (such as a life insurance policy payout).

Do I Need to Worry About This?

Once you get past the initial surprise of being told you’re dead, you might wonder if an incorrect death note in a computer file matters—particularly since you’re right there in the flesh.

It does matter. With a death flag on your credit report, you are unlikely to get any mortgage or loan. Your credit score may also drop. Yes, even though you are standing there, live, and in person, potential lenders may be concerned that you are the person who is committing identity theft or is otherwise playing fast and loose with financial records.

That’s why, if you need help with a wrong death flag or any other incorrect information in your credit file, don’t wait. Contact an attorney at Credit Report Law Group who specializes in representing clients like you—a lawyer who can help you repair your record and obtain compensation for any damages you sustained. Don’t let a wrong note in a credit report impact the life you’re living!

Credit Report Errors, Credit Reports, Credit Scores, News

Hyundai Must Pay More than $19 Million for Furnishing Incorrect Information to Credit Bureaus

Posted on by Credit Report Law Group

Last year, the Consumer Financial Protection Bureau (CFPB) ordered Hyundai Capital America (HCA) to pay more than $19 million in penalties for giving inaccurate information to the financial credit bureaus—making this the CFPB’s largest case against an automotive servicer for violations of the Fair Credit Reporting Act. Of the penalties, $13 million will impact Hyundai owners.

According to a press release, HCA is a finance subsidiary of the South Korean automotive manufacturer with 1.7 million customers and more than $45 billion in reported assets. But, said the CFPB, HCA had provided the credit bureaus with more than 8.7 million inaccurate reports on more than 2.2 million consumers. And these had an impact, often lowering their customers’ credit scores. Significantly, the CFPB noted how many complaints about HCA it had received from consumers and how this had played a role in its investigation.

CFPB said that HCA violated the Fair Credit Reporting Act between January 2016 and March 2020 because HCA had:

  • Failed to report accurate loan and lease information
  • Failed to provide a required date of first delinquency
  • Failed to correct information
  • Failed to put in protections against identity theft
  • Failed to have reasonable integrity policies

The CFPB stated that “In many cases, Hyundai knew it was providing inaccurate information and failed to take reasonable measures to address the inaccuracies. Hyundai identified many of the issues causing these inaccuracies in its internal audits, but still took years to address the problems.”

HCA even had a system that automatically furnishes information to credit bureaus—and this system would occasionally override correct information entered by human employees following a credit report dispute.

While admitting no wrong, HCA has committed—in addition to the monetary fines—to improving practices and correcting affected customers’ credit reports.

If you think you may be one of Hyundai’s impacted customers, or you need help with another lender who is furnishing incorrect information to your credit file, contact an attorney at Credit Report Law Group who specializes in representing clients like you—a lawyer who can help you repair your record and obtain compensation for any damages you sustained.

Background Check Errors, Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

When Married Couples Have the Same Name

Posted on by Credit Report Law Group

Recently, the Wall Street Journal had an article about married couples who wound up having the same name. And this issue may become more common as names previously considered male or female become gender-neutral. For example, in November of 2022, movie star Taylor Lautner married Taylor Dome, who became Mrs. Taylor Lautner. While the article had charming stories about how the couples give each other nicknames and how they deal with the confusion at family gatherings. But what was interesting is that Wall Street’s paper of record failed to mention how this could impact a couple’s financial well-being. But it could do that by impacting both spouses’ credit scores.

The problem is that if a couple has the same name, it’s very likely that the mix-ups could go beyond misdirected birthday cards. Instead, the spouses’ credit reports could be impacted by mixed files—when the information relating to one person with the same name ends up in another person’s record.

An estimated 35% of consumers have mixed files—information on their report that doesn’t belong to them. The problem is even more prevalent for those who have disputes over collection accounts.

For some consumers, mixed files are a product of identity theft. But, according to credit bureau Experian, the similarity between family members’ data is the most common cause for a mixed file.

To avoid having a mixed file, consider the following:

  • Use the family member’s full name—including middle names and “generation identifiers” (e.g., “Sr.” or “Jr.”)—for any legal or financial documents, including credit cards, banking accounts, and billing addresses.
  • Monitor and immediately correct any vendors or others who may omit the distinguishing identifiers from correspondence and billing information.
  • Review each family member’s credit report on an annual basis.

If you and your family members already have mixed files, it’s important to get this addressed—but it can be challenging to convince the creditors and credit bureaus to review the material. Particularly since family members aren’t usually sharing just a name: They also have the same address and the same bank accounts and credit cards, and they may use the same merchants and utilities.

That’s why you should contact an attorney at Credit Report Law Group who represents clients like you. An attorney specializing in credit report issues will know how to convince the bureaus to update their files.

If you have any issues with a mixed file, identity theft, or other credit-related concerns—a lawyer can help you repair your record and obtain compensation for any damages you sustained.

Background Check Errors, Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

No Need To Buy A Vowel: Most Popular Italian Surnames

Posted on by Credit Report Law Group

You’re probably aware that many Italian surnames have a vowel as the final letter, but the number of them that end with an A, E, I, or O might surprise you. Of the top 100 Italian surnames, 96 fit that convention! Piras, de Angelis, de Santis, and Dal are the only four that do not end with a vowel.

Of course, there are also lots of incredibly popular Italian first names. Mario, Giovanni, Antonio or Anthony, Marco, Angelo, Leonardo, and Joseph for boys; for girls, Maria, Angela, Sophia, Olivia, Rosa, and Teresa—just to name a few. In fact, 19% of all Italian men are named Giuseppe!

One Disadvantage of Common Italian Names

Of course, there are plenty of benefits to having a commonplace Italian name. Most people will know how to pronounce and spell it. And, of course, names passed down through the generations make for an incredible sense of connection and belonging with one’s own family and with their proud Italian heritage.

That said, there’s one major downside to being named Tony Russo or Maria Rizzo. Called a mixed-file error, it originates with a simple paperwork or computer error that jumbles up two different individuals’ identifying information—names, birthdates, birthplaces, ages, etc. It could be as simple as inadvertently swapping the middle initials of two Teresa Romanos.

What Damage Does This Error Do?

Mixing up credit files can result in some serious problems. One is that the two people’s credit scores aren’t accurate, as they are partly based on someone else’s debt and credit card usage. That could mean that one Teresa, who’s never missed her VISA payment, bounced a check, or been late with a car payment, gets penalized for the financially irresponsible Teresa’s terrible credit.

Having poor credit affects every area of one’s life; it’s difficult to achieve economic success if you have defaulted on loans or are considering bankruptcy.

Corrective Steps to Take

First and most importantly, make sure to check your credit reports regularly and carefully. Every piece of information should match your records of payment amounts, credit card balances, credit checks, and the like. Finding  anything unusual, such as a loan you never took out, a late fee you didn’t incur, or payments showing as missed when you remember making them, could indicate a mixed-file report. It could also be a case of identity theft, so make notes of any discrepancies you see.

Then call Attorney Adam Singer at the Credit Report Law Group. As a specialist in mixed-file errors, he can evaluate your credit reports and get to the bottom of the mistake. From there, he’ll work with you to right these wrongs and may even secure monetary damages to compensate for the difficulty you experienced. Get in touch today at 212-842-2428!

Background Check Errors, Credit Report Errors, Credit Reports, Credit Scores, Mixed Case File, News

Germans in America: Fun Facts, Possible Problems

Posted on by Credit Report Law Group

The story of German people in America is as old as the story of America itself. Most people know that immigrants from all over Europe flocked to the United States in the 1800s, but the German population here had some 200 years of American life under their belts by then. A few of the notable milestones marked by students of German-American history:

  • It was October 6, 1683, when Germantown, PA, was settled on the northern outskirts of Pennsylvania.
  • When the first U.S. Census was taken in 1790, Pennsylvania was home to 225,000 Germans—nearly one-third of the state’s entire population!
  • Following significant crop failures in southwestern Germany, circa 1816-1817, the U.S. saw an influx of immigrants numbering about 20,000.
  • In the 1950s and ‘60s, a total of 786,000 Germans came to the United States.

Today, there are over 42 million people of German ancestry in the U.S., accounting for approximately 13% of the entire population.

Common German Surnames

Of the top 10 German surnames, only three (Schmidt, Schultz, and Hoffman) do not end in -er. The most common names are as follows:

  1. Müller
  2. Schmidt
  3. Schneider
  4. Fischer
  5. Weber
  6. Meyer
  7. Wagner
  8. Becker
  9. Schultz
  10. Hoffman

Given how populous the German-American community is, folks with any of these last names probably aren’t surprised when their name gets mixed up with similar-sounding ones.

How Name Mix-Ups Can Cause Problems

If that’s ever happened to you, however, you must follow up to make sure that the mistake doesn’t cause serious problems—including a mixed-file error on your credit report. This happens when two people’s information becomes muddled, usually because they have the same or similar names.

Mixed-file errors might sound relatively innocuous, but they’re bad news. Any credit report error can wreak havoc with your credit score. A poor score makes it hard to rent an apartment, qualify for a mortgage, take out a car loan or a personal loan, or even have a bank account. It makes it harder to get good credit cards with low-interest rates and no annual fee. And digging out of these dire financial straits isn’t easy.

How German-Americans Can Guard Against These Errors

How can you stay on top of your credit reports and make sure your details haven’t been mixed up with anyone else’s? Check your credit reports carefully and frequently so that you know your score; if it changes drastically when your circumstances have not changed, that’s a sign that something’s gone awry. Look for any information that seems out of place—credit cards or store cards you don’t have, unfamiliar addresses, even small details like an incorrect middle initial.

If you see suspicious information or data you can’t account for, contact Adam Singer at the Credit Report Law Group. Legal assistance can be invaluable in getting credit report errors sorted out, restoring your good credit, and even obtaining compensation for your troubles. Call 212-842-2428 today.

Credit Report Errors, Credit Reports, Mixed Case File, News

Are You Indian-American? Here’s Why You Need to Check Your Credit Report with a Microscope

Posted on by Credit Report Law Group

India is well-known as one of the world’s most populous countries, with just under 1.4 billion people calling that South Asian nation home—but Indians are living all over the globe, of course, and the Indian diaspora is the largest in the world. As of 2020, there are 18 million Indians living outside of their home country.

Of course, people from every culture will face some degree of difficulty when living abroad, whether they experience culture shock, prejudice, language barriers, problems securing employment, housing or food insecurity, or simple homesickness. However, immigrants to the United States must be on the lookout for one particularly troublesome pitfall: mixed-file credit errors. Let’s take a closer look.

Fast Facts About Indians in the U.S.

There are over four million people of Indian descent living in the United States; their numbers are split fairly equally between long-term residents and relatively recent arrivals. Some 46% have been here for more than ten years.

Although there are about 3,955,695 surnames in use by folks of Indian origin, many of those living in the U.S. have common surnames such as Singh, Devi, Kumar, and Das. This can lead to confusion, especially among non-Indian people. And when that confusion enters the arena of credit reporting, mistakes on Indians’ credit reports can spell out serious trouble.

Mixed-File Mistakes

Mixed-file credit report errors happen when two different people’s financial accounts get jumbled up for some reason. Usually, the names are identical or nearly so, with perhaps a different middle initial. The problem is often compounded by other personal details also matching up: age, marital status, birthplace, job title, etc.

Unscrambling the mixed-up credit reports isn’t an easy task. In fact, these errors can go unnoticed for years—unless people keep an eagle eye on their credit report. Other times, people will run their credit report and be surprised that the number is so low. Only after in-depth investigation do they discover that someone else’s debt or delinquency has negatively impacted their standing with the major credit bureaus.

Get Help Solving Credit Report Snafus

In nearly all cases of mixed-file credit report errors, it’s necessary to use a lawyer to get everything straightened out—and not just any old lawyer, either. If your credit is cockeyed because your name was confused with another person’s, look for an experienced and dedicated attorney specializing in credit report errors.

The Credit Report Law Group, helmed by attorney Adam Singer, can help with mixed-file problems or issues with identity theft. Call 212-842-2428 or click here to tell us about your situation and explore your legal options.

Credit Report Errors, Credit Reports, Mixed Case File, News

Japanese-Americans Face Unique Credit Issues Due to Their Surnames

Posted on by Credit Report Law Group

If you had to guess, which U.S. city has the largest population of Japanese-Americans? There’s a good chance you said “San Francisco,” and that’s not far off—but San Fran, or “Soko,” as it was known to the first wave of Japanese immigrants, only comes in third. Honolulu tops the list, followed closely by second-place Los Angeles.

Like many immigrants, Japanese folks coming to California in the 1880s had difficulty finding their place, both figuratively and literally. Did you know that the first Japanese people to arrive in San Francisco lived in the city’s Chinatown before developing a Japantown to call home? That was the only place they were accepted. Happily, today’s Japanese-American population is widespread in CA and around the country.

No matter where they settled or where their descendants have chosen to live since, America’s Japanese communities share several close-knit commonalities, including their surnames.

The Most Common Japanese Last Names

One out of every 65 Japanese people is named Sato, while one out of 68 is called Suzuki. Rounding out the top five are Tanaka, Watanabe, and Takahashi. According to raw figures, there are some 300,000 unique Japanese surnames, but that’s a simplified statistic. It doesn’t consider the fact that many family names are nearly the same in the original kanji, but have been romanticized or pronounced differently. These slight (and often insignificant) differences drive up the total number of Japanese surnames.

Japanese Names and Credit Report Mixups

These inherent pitfalls of translating a term or name from kanji, along with confusingly discrete pronunciations, have another consequence and one that impacts the daily lives of many Japanese-Americans each day. Given how easy it is to mix up two similar Japanese surnames, there are frequent mixups involving Japanese people’s personal details and financial account information.

That kind of snafu can result in something called a mixed-file credit error. Essentially, that’s when one person’s credit records get mashed up with someone else’s. Mixed-file errors often occur when fathers and sons are distinguished only by “Sr.” and “Jr.” or when other identifying details (middle initial, date of birth, state of residence, etc.) are also conflated or swapped.

It’s also common for people with “ethnic” names, especially if there is only a limited pool of surnames used by folks of that ethnicity or nationality.

Mixed-file credit problems tend to be tricky for consumers to untangle on their own—but luckily, it’s easy for them to find help. Attorney Adam Singer and his team specialize in resolving these complicated credit errors. To get started restoring your credit report (and possibly get compensated for the trouble a mixed-file report caused in your life), contact the Credit Report Law Group today by calling 212-842-2428 or click here to fill out this convenient form.