Your credit score and credit rating are critical factors determining your financial standing and the kinds of credit lines you have access to. Your credit report contains information that shows your credit activity, but what should you do if you suspect your credit information is outdated?
You are responsible for confirming that the information on your credit report is accurate. Monitoring your reports regularly can help you correct mistakes promptly. Additionally, working with a New York FCRA attorney can be an excellent way to ensure your credit report information is up-to-date.
What to Do if Your Credit Report Has Incorrect Information
There are steps that you can take to remove or correct any inaccuracies if your credit report contains information that is not correct.
First, contact the credit reporting bureau and notify them of the error. If all the reports from the main reporting agencies contain incorrect information, send a dispute notification to each. The best part is that the three main credit reporting agencies (TransUnion, Experian, and Equifax) allow you to dispute information on your credit report online.
Remember to provide any supporting documentation to substantiate your claim. The credit reporting agency will investigate the dispute and make relevant corrections to your credit report. You can also file a claim with the Consumer Financial Protection Bureau if you feel the credit reporting agency is not taking the right action to correct the errors on your credit report.
Report Debts that Are Seven Years Old or Older
If you have old debts on your credit report, there are a few things you can do. You can begin by checking the date of the debt. If the debt is more than seven years old, it should no longer be on your report. However, debt collectors are still eligible to collect the debt.
You can also check to determine if the debt has been sent to a different collection agency. If so, you can dispute the debt with the new collection agency. It would also be best to reach out to the original creditor and request they remove the debt from your credit report.
Can You File a Lawsuit for Incorrect Information on Your Credit Report?
If you have old debts that are being reported on your credit report, you can file a lawsuit against the credit reporting agency for incorrect information.
The Fair Credit Reporting Act (FCRA) prohibits credit reporting bureaus from displaying inaccurate and outdated information on credit reports. If the credit reporting agency cannot verify the information's accuracy, they must remove it from your credit report. Additionally, if you believe that the credit reporting agency has violated the FCRA, you can file a lawsuit against them.
If you win the case against a credit reporting agency, you may be entitled to recover compensation for punitive damages, attorneys' fees, and court costs.
Contact our New York FCRA Attorneys Today to Get Started
If you have outdated information on your credit report, it is important to take appropriate steps to correct the mistakes. The New York FCRA attorneys at Mizrahi Kroub can help you understand your rights and options under the law. Contact us today for a case evaluation.
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