A number - just one number, determines so much of your life. Your credit score can affect where you live, if you get that new job you interviewed for, and whether your car loan is approved or not. It is important to know what your credit score is, and if it is accurate.
Getting your credit score is not difficult. You are entitled to one free copy of your credit report from each of the major credit reporting agencies each year. We suggest you request at least one every year.
What should you do if you see something that isn't quite right on your credit report?
Dispute any inaccurate information
Tell the credit bureau, in writing, exactly which information is inaccurate. Remember to only send copies of your documents - keep the originals!
You have the right to dispute it with either the credit bureau that provided the report or the creditor that reported incorrect information. Contact the Eason Law Firm, LLC for a dispute letter free of charge.
Let the creditor know it is in dispute
It is important for you to notify the appropriate creditor or information provider that you are disputing information on your credit report. Ensure that interested parties know that there is an error and that you're working to get it resolved.
Follow up on your dispute
Consumer reporting agencies have a 30-45 day window to complete their investigation and are required to let you know the results within five days of its closure. If you have not heard from them, contact them to inquire as to the decision.
If your dispute was valid, and the information had to be corrected, the credit bureau is responsible for sending the correction to every credit reporting company that received the inaccurate information.
If your dispute has been investigated and is still incorrect, you have the right to sue under the Fair Credit Reporting Act (FCRA). You can recover $1,000 in statutory damages and your attorney's fees will be covered. You might even receive compensation for any damages you sustained as a result of the inaccurate information.