Credit Report Errors and Identity Theft

The increasing use of online shopping, banking and record-keeping has corresponded with the rise in identity theft. If you aren’t careful with the information you share online, a plethora of troubles can come your way, including a tumbling credit score. A good credit report has become vital for consumers across the country; a negative mark on your credit record could impact your ability to obtain a mortgage for a house, a lease for an apartment, purchase a car, or even get a job.

Congress enacted the Fair Credit Reporting Act to protect consumers who might have had their identity stolen in the past. It has three primary provisions:

  1. Ensure that each credit report provides accurate information
  2. Safeguard consumers’ credit and personal identifying information
  3. Give consumers the information reported on them

Consumers are entitled to receive one free credit report from each credit reporting agency every year. The three major credit reporting agencies include:

  • Experian Information Solutions
  • Trans Union
  • Equifax Information Services

Monitoring your annual credit report is important for a number of reasons, but especially if you are intending to purchase a home, switch jobs, or purchase a new car. Any error on your credit report should be disputed immediately with the credit reporting agency. Upon sending proof of the negative mark on your credit report, the agency should investigate the matter. If the agency cannot verify the report, they must delete or correct your credit report. Identity theft continues to have a large impact on victims’ credit reports, and it is therefore important to closely monitor your credit report annually and be alert to any changes, such as new lines of credit or delinquent accounts.

It is important to save any correspondence with the credit reporting agency during an investigation. Failure to adequately investigate your claim could violate the Fair Credit Reporting Act.  A consumer protection attorney can assist you throughout the process of contesting a credit report.

Rodal Law | South Florida Consumer Protection Attorney

If you have been the victim of identity theft, or are the victim of credit report errors which impacted your ability to make a large purchase or obtain a job, you may be entitled to receive compensation for damages. Rodal Law is committed to protecting the rights of consumers. Our firm has fought for our clients in federal court nearly 500 times, and hundreds of other times in state court. We will work tirelessly to ensure you receive the compensation you deserve for any errors on your record. Contact our South Florida office near Broward or Miami-Dade County today for your initial free consultation.