What Consumers May Do if Credit Bureaus Won't Correct their Credit Reports
Credit bureaus are required to correct errors in consumers' credit reports when the consumers dispute inaccurate items in their credit reports. The errors usually stem from inaccurate reports provided by credit card companies, debt collectors and retailers. Often, the credit bureaus' investigation of the disputed item is merely to ask the "supplier" of the inaccurate information if the information is accurate. Too often, the supplier tells the credit bureaus the information is accurate which leads to the credit bureaus refusing to correct the reports.
The Fair Credit Reporting Act (FCRA) gives the consumer the right to sue the credit bureaus and suppliers of the erroneous information for damages, injunctive relief and attorney's fees.
The FCRA is a complicated statute. The credit bureaus are skilled at defending their positions. Consumers should turn to attorneys knowledgeable in this area of the law. KABOB attorneys are available for consultation with consumers in California. For more information go www.kaboblaw.com.
