Disputing errors on credit report has become very important as having errors on credit report can lead to serious consequences in one's financial life. A recent study conducted by CareerBuilder showed that 78% of Americans are living on paycheck to paycheck. One major factor is that millions of Americans have errors on their credit report that make it much more expensive to borrow money and to purchase items.
To help Americans keep their credit report free from errors, credit report attorneys at Consumer Action Law Group have provided a list of helpful advice that will help consumers recognize potential threats to their credit and what they can do if mistakes are already present on the credit report.
One reason why errors on credit reports can be very damaging is that they can increase the chances of being turned down for a job, denied a place to live, denied a loan, and denied credit offers. They can also hurt the FICO score and deny being qualified for low-interest rates.
A common mistake that comes up often on credit reports is a mix-up of information. This occurs when credit bureaus get people with similar names or security numbers mixed up. For example, people with the last name Smith or Gonzalez are more prone to this kind of mistakes on credit reports. It can get extremely difficult to clear up the confusion without the help of a lawyer who knows how to dispute credit report effectively.
Another common mistake on a credit report is caused by identity theft when a person has purchases and loans on their credit that is the result of fraud. With over 3 million consumers getting their identity stolen each year, it is important to keep check of any fraudulent activities on credit reports.
Fortunately, any consumers can get the mistakes on their credit report fixed if they dispute the items on credit report with the credit bureau. However, with millions of disputes filed each year, it is typical for the mistakes to stay on the credit report unless legal action is taken.
According to Pauliana Lara, an attorney from Consumer Action Law Group, "It is always a good idea to send a dispute letter for credit report mistakes, but the letter must be specific and detailed. The best way to dispute a credit report would be with the help of a credit dispute attorney."
When consumers send the letters themselves, the best result will be the removal of the mistakes. With a lawyer involved, however, it is possible to be compensated for the damage as well on top of getting the mistakes corrected.
Once credit bureaus receive a dispute letter, they must investigate and remove any errors that are on the letter after identity theft has occurred. A lawyer can help to fix the mistakes caused by identity theft if the bureaus do not remove the false information.
Consumer Action Law Group attorneys suggest sending credit report dispute letters to the credit bureaus as the best way to get credit report errors fixed. The letter should list all the items that the credit bureau should investigate and fix. Sending the letter by certified mail, return receipt requested, is good to have a record of the mail.
Consumer Action Law Group offers a free case consultation for anyone who needs help disputing errors on their credit report. Call 818-254-8413 for a free case evaluation.
About Consumer Action Law Group
Consumer Action Law Group is a law firm dedicated to helping individuals in consumer-related matters such as fraud and scams by lenders, car dealers, credit card companies, and employers. Attorneys on the team are knowledgeable and experienced in the areas of eliminating debt, mortgage fraud, auto fraud, as well as home foreclosures. They have experience in consumer fraud matters to defend consumers who are facing financial hardship, foreclosure, and fraud.
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