Reinsertion in your credit file of previously deleted information
“Reinsertion” under the Fair Credit Reporting Act (FCRA) means that a credit bureau has started to again report inaccurate information that was previously disputed by a consumer and removed or suppressed by a credit bureau — Experian, Equifax, and TransUnion, and others — from the consumer’s credit file. Reinsertion often happens when a disputed/deleted account […]
Avoid Credit Repair Shops!
Credit repair shops (commonly also known as “credit repair organizations” or CROs) are mass credit dispute operations. You have heard commercials for credit repair shops on the radio. You have seen them on television. Credit repair shops typically charge you upfront and monthly fees (or similar fee arrangements) to churn out and send to consumer […]
What is the Purpose of the Fair Credit Reporting Act?
The Fair Credit Reporting Act (FCRA) was enacted to protect consumers because Congress recognized, as early as 1970, that an individual’s right to accurate credit reporting is vitally important. Consider the following statement from the Congressional Record: “The purpose of the Fair Credit Reporting Act is to protect an individual from inaccurate or arbitrary information […]
Can you sue after a credit dispute?
When you dispute an inaccurate debt on your credit reports to one or more credit bureaus (like Equifax, Experian, and TransUnion), the Fair Credit Reporting Act (FCRA) requires credit bureaus and the creditor that supplied the inaccurate information to the credit bureaus (called a furnisher under the FCRA) to take action. Specifically, the Fair Credit […]
“Consumer Reports” finds errors on 1/3 of credit reports
Need another reason to keep a close eye on your credit reports? Check out the findings and recommendations from Consumer Reports Credit Checkup Study, published on June 10, 2021: “A Broken System: How the Credit Reporting System Fails Consumers and What to Do About It” – linked here The CR report stresses that more than […]
How long can a negative item stay on my credit report?
The Seven-Year Obsolescence Rule is the Default Under the Fair Credit Reporting Act (FCRA) With the exception of five specific types of information described below, no negative item (most commonly late payments) can remain on a credit report for more than seven years from the date the account first became negative (i.e., the date of […]
Will disputing inaccurate information on my credit report harm my credit score?
No! And you should consult with an experienced consumer attorney about how to best dispute all inaccurate information on your credit report. Under the Fair Credit Reporting Act (FCRA), you — the consumer — are entitled to dispute any inaccuracies on your credit reports with Equifax, Experian, TransUnion, and Innovis (and any other consumer reporting […]
Millions of Mixed Credit Files. Could One belong to You?
Yes, there are millions of Americans, perhaps six million or more, whose credit files are mixed and merged. It is a massive problem, one in which personal information and account data from your credit file may be mixed with those same types of information that in fact belong to one or more other consumers. It […]
Will disputing inaccurate information on my credit report harm my credit score?
No! And you should consult with an experienced consumer attorney about how to best dispute all inaccurate information on your credit report. Under the Fair Credit Reporting Act (FCRA), you — the consumer — are entitled to dispute any inaccuracies on your credit reports with Equifax, Experian, TransUnion, and Innovis (and any other consumer reporting […]
Accurate credit reports? It is time to find out.
Savings? Check. Investment Portfolio? Check. Accurate credit reports? It is time to find out. The Consumer Financial Protection Bureau (CFPB) reports that it received and addressed more than 200,000 consumer complaints related to incorrect information on credit reports and/or complaints about issues with investigations and business practices by credit reporting agencies (i.e., Equifax, Experian, and […]
Fraudulent charges on your credit card? Now what?
Most credit card issuers tell you that they offer extraordinary fraud protection and that you will never be held responsible for unauthorized charges to your account. In real life, it often doesn’t work out that way. At Sherman & Ticchio, we speak to consumers all the time who are victims of identity theft and find […]
What is a Credit Lawyer anyway?
What is a Credit Lawyer anyway? “Credit lawyer” is a short-hand term for an attorney, like the lawyers at Sherman & Ticchio, who can guide consumers through the process of disputing inaccurate items on their credit reports or background check reports and, if necessary, file federal lawsuits on behalf of consumers under the Fair Credit […]