Credit report mistakes have only become a more common occurrence, and the fallout of these mistakes has also grown to be more costly. Even the most minuscule errors can make a lasting impact on someone’s life, and you can find the effects of some of these errors down below:
Buying a Home
Credit reporting errors have a major tendency to negatively impact credit scores. This can make it especially difficult when looking into making large purchases.
One of the most common errors that cause trouble for consumers is being filed alongside someone with a similar name and bad credit. When credit agencies make these mistakes, they can make buying a home virtually impossible due to their negligence.
Errors like these are also almost never an easy fix. They can take several months to even years to be corrected if they are ever caught at all.
Identity theft has been a persistent issue that has yet to find a permanent solution. There are many people who choose to wrongfully take advantage of the inconsistent and slow-moving credit system by filing under someone else’s name with a different address.
When this occurs, many people do not have the chance to fix the problem until it’s too late, or until they actually apply for credit. This can lead to credit denials, as well as refusals on loans, and a plummeting credit score.
Some errors can occur due to a mishap in technology or even a typo in your records. There are some instances in which a computer has a malfunction and issues a charge to an account where it doesn’t belong.
These errors have the potential to stick on your credit report even after several investigations. Credit reporting agencies tend to do everything they can not to admit fault, making the correction of these mistakes a difficult task.
Contact Our Florida Team Today
Just because these mistakes are difficult to correct does not mean they are impossible to rectify. The team at Boss Law understands the complexities of credit reporting errors, and we know exactly how to deal with them.
If you are struggling with errors on your credit report, don’t hesitate to contact us today to start your free consultation! Fill out a form through our website, or give us a call at (727) 877-3188!