What is a Credit Inquiry (and what is the difference between hard inquiries and soft inquiries)?
Broadly speaking, a credit inquiry is a request by a financial institution or other company (like a potential landlord) for information about a consumer’s creditworthiness from a consumer reporting agency (CRA), which are commonly called credit bureaus. The big three credit bureaus are Equifax, Experian, and TransUnion. A fourth credit bureau currently making a push […]
The Fair Credit Reporting Act and Your Right to Maximum Possible Accuracy (a basic overview)
The Fair Credit Reporting Act (commonly referred to as the FCRA) is the federal law that requires credit bureaus (also known as consumer reporting agencies) like Equifax, Experian, and TransUnion to, among other responsibilities, maintain and follow procedures to assure the maximum possible accuracy of information in consumer reports that they publish about you to, […]
How do I read my credit report?
You finally get a copy of your credit report with Equifax, Experian, Innovis, TransUnion or one of the many smaller credit bureaus, but when you look at it you’re hit with a wall of information that you can’t possibly understand. This is the situation many of our potential clients find themselves in, and it’s understandable. […]
Suspect Identity Theft? You Can “Freeze” Your Credit Reports
Today, with data breaches, telephone scams, and bogus links in emails and texts with offers or warnings that seem legitimate but are, in reality, part of click-bait cons, identity theft is rampant. And a major consequence of identity theft can be the opening of credit cards and other loans in your name without your knowledge […]
Employment background check report errors
You’re applying for a job, and you learn that you’ve been accepted. As you, ecstatic, read through the acceptance letter, you see a short note of fine print saying that your job offer is contingent on a review of your employment background check. “No problem” you think, “I don’t have any criminal history, nothing to […]
How can I dispute an error on my credit report?
To dispute an error on your credit report, a good practice is to contact the consumer reporting agency (also known as a credit bureau; i.e., Equifax, Experian, Innovis, TransUnion) and the company that provided the information (called a furnisher, which is often a financial institution, service provider, or collection agency). To trigger certain rights provided […]
Why are there errors on my credit report?
Your credit report is a record of your creditworthiness. Chances are, every payment you’ve made to a big label credit card, mortgage servicer, or student loan debt servicer is on your credit report with one or more of the big three nationwide credit bureaus: Equifax, Experian, and TransUnion. Lately, a fourth credit bureau, Innovis, has […]
Can I sue for a false background check report?
According to the Fair Credit Reporting Act (FCRA), you are entitled to sue a background check company if they provide false information that causes you harm, such as losing a job offer or being terminated. Ultimately, you may end up needing to file a federal lawsuit pursuant to the FCRA if you lose your job […]
Employment background check companies: Check your reports
The information below is on the CFPB’s 2021 list of consumer reporting companies Accurate Background Provides background screening services. Free report: The company will provide one free report if you request it and if the company has a file on you. Website: accurate.com Phone: 800-216-8024 Address: Accurate Background, Inc. 7515 Irvine Center Drive Irvine, CA […]
How can I obtain my credit reports from Equifax, Experian, and TransUnion?
Your credit reports play an important role in your financial life. They can influence everything from loan approvals to job opportunities. It is recommended to regularly review your credit reports to ensure they accurately reflect your financial history. Fortunately, obtaining your credit reports from the three major credit bureaus – Equifax, Experian, and TransUnion – […]
Credit Bureaus must provide you with a copy of your credit report under the FCRA
§1681g of the Fair Credit Reporting Act (FCRA) requires that “[e]very consumer reporting agency shall, upon request …” provide you with a copy of your credit report. It is, in other words, a violation of FCRA §1681g for a credit bureau to refuse to give you your credit report as long as you provide the […]
Why you need to get to know the Fair Credit Reporting Act (FCRA)
The Fair Credit Reporting Act (or FCRA), passed in 1970, is a federal statute designed to protect consumers. The FCRA essentially is a federal law that combines common law principles of law defamation and privacy. Ultimately, the purpose of the Fair Credit Reporting Act is to assure that the information credit bureaus publish about you […]