Dynamic Guidance And Advocacy Throughout Northern Virginia

Manassas, Virginia, Consumer Protection Lawyer Pursuing Corrections For Credit Report Errors

An error on your credit report can have a serious impact on your life. It can prevent you from getting a loan to buy a home, a car, or other important purchases. It can prevent you from getting security clearance. Credit issues may affect job opportunities. At the consumer protection law firm of Thomas R. Breeden, P.C., we will stand up for your rights. We will aggressively pursue the correction of any credit reporting errors, as well as compensation for any damages caused by the error.

E-mail us or call us at 703-659-0188 or 703-659-0188 to schedule an initial consultation with an experienced credit protection attorney.

For 30 years, we have provided consumer protection related to credit report errors for consumers in Manassas and throughout Northern Virginia. Our team cares about you. We demonstrate that caring by working hard to get you results and getting you past this matter so you can move on with your life. We will stand up to creditors and any credit bureaus, including Experian, Equifax and TransUnion.

Types Of Credit Report Errors

There are various types of errors that can appear on your credit report. Here are some common examples, though this list is not exhaustive:

  • Inaccurate personal information on credit accounts
  • Fraudulent purchases
  • Fraudulent accounts (identity theft)
  • Duplicate accounts
  • Closed credit accounts being reported as open
  • Incorrect balances and/or credit limits on accounts
  • Returned purchases not being refunded
  • Inaccurate payment history (typically resulting in inaccurate late payments)
  • Old or discharged debts not being correctly reported as paid
  • Incorrect ownership on a line of credit (i.e., you are documented as an “Owner” when you are actually an “Authorized User”)
  • Repeated use of inaccurate information after it has been corrected
  • Unauthorized credit report pulls

These errors can cause significant issues, but our lawyers are ready to assist you in resolving them.

What Can Appear In A Credit Report?

Credit reports do not have a standard format. The information shown depends on what creditors report to the credit bureaus, including:

  • Identifying information: It includes personal details such as the individual’s name, address, Social Security number and employment information.
  • Credit accounts: The report lists your accounts, including credit cards, mortgages, student loans and auto loans; the dates the accounts were opened; your credit limit or loan amount; the account balances and your payment history.
  • Credit inquiries: This section records any inquiries about the individual’s credit history.
  • Public records: This includes any information from public records that can impact credit, such as bankruptcies, foreclosures, tax liens and civil judgments. These items can negatively affect credit scores and stay on the report for several years.
  • Collections: If account details have been sent to a collection agency due to nonpayment, the report will reflect the information. These items remain on the report for seven years.

These elements collectively form the basis of a credit report, offering a comprehensive view of an individual’s financial management.

Two Types Of Credit Inquiries

Here are the two main types of credit inquiries that may appear on your report:

  • Hard inquiry (or “hard pull”): This occurs when you apply for credit. It has a negative effect on the credit score, but the impact is usually temporary. If you make multiple applications for the same type of credit (like auto loans) within a similar timeframe, they are considered as one inquiry. However, if you apply for different types of credit (such as a credit card and a home loan), these are treated as separate inquiries, even if they happen around the same time.
  • Soft inquiry (or “soft pull”): This happens when your credit score is reviewed without a direct application for new credit. It doesn’t affect the credit score. Examples include when you check your credit or when a credit card company or an employer conducts a review. Soft inquiries do not appear on credit reports used by lenders.

Knowing how these inquiries work can help you make informed decisions when applying for credit.

Credit Report Error Resolution

A wide range of errors can sneak onto a person’s credit report. Accounts may accidentally be merged with those of relatives or people with similar names. A bill may be reported as past due when it actually was paid on time. A bank or creditor may accidentally report a foreclosure or other serious financial event. We have even seen credit reports closed because the owner was reported deceased when they were still alive. Our credit protection team is able to work with creditors and credit bureaus to resolve matters such as these bureau disputes, bank errors and other violations of the Fair Credit Reporting Act (FCRA).

Inaccurate Credit Scores Due To Mismerged Credit Reports

Your credit score is a very significant number. A low credit score can seriously affect borrowing, employment, college enrollment, and even security clearances. There are steps anyone can take to begin improving their credit score. But what happens when an individual’s credit score is not accurate? When you get a credit report, how can you know for sure that the information on that report is accurate – and that the information is your own?

There are steps you can take to ensure that your credit score is accurate. At the law office of Thomas R. Breeden, P.C., we can help you explore those options. Contact our law office in Manassas, Virginia, to find out more.

Mismerging Credit Reports

Mismerging credit reports is more common than you may think. This occurs when one person’s information is erroneously placed in another person’s file, altering the accuracy of both files.

There are various reasons in which credit reports may become mismerged. Most often, it is because of a simple administrative or technological error occurring when two names are very similar, or when two Social Security Numbers share many of the same digits. Additionally, database errors may contribute to mixed or mismerged files.

If you believe your credit score is inaccurate, you may want to consider working with a consumer protection attorney to determine the best way to proceed. You may not have to suffer with a bad credit score. Your credit problems may be a result of your credit bureau’s mistake.

Credit Errors And Identity Theft

Consumer credit is a big deal in the modern world. Your credit report follows you like a financial report card, determining what kind of financing you can get and on what terms. Errors in your credit report can harm your financial standing in numerous ways.

Federal law provides consumers with certain rights with regard to their credit reports. It also imposes certain requirements on financial institutions to ensure that credit reporting is fair, transparent and accurate. When banks, credit card companies and other financial institutions fail to meet those standards, they should be held accountable. Moreover, correcting errors on credit reports is critical for the financial health of consumers. Note that not every entry in a credit report can be modified. It is vital to work with an attorney for guidance and assistance in understanding what is considered an error on a credit report and in seeking to obtain corrections for the errors on any of the credit reporting systems.

The Nightmare Of Identity Theft

Despite ever-evolving advances in security and cybersecurity, identity theft remains an ongoing issue, affecting millions of consumers across the country every year. Identity theft can create a financial nightmare for you. You may end up with significant debt on your credit report, resulting in a plummeting credit score. Even if you reach out to the credit companies to report the issue, they may not resolve it.

Computer hacking is commonly the subject matter of television shows and other forms of popular media. Unfortunately, hackers may seek to obtain vital information to gain access to an individual’s identity. These data security breaches create complex legal issues when data involves identity theft. Hackers may target an individual’s identity directly. Seeking to steal information from cellphones, financial statements in the mail or trash, as well as through schemes to hijack information using some form of card skimming technology.

Data thieves may often use the information to open new accounts in the name of others. In these situations, the victim may certainly learn of the fictitious account opened in their name. The immediate concern is to correct the situation related to the false account. However, it is also important to address credit reporting issues related to the fictitious account. This step is easy for many people to overlook. When identity theft and/or credit card fraud occurs, it is critical for victims to seek the guidance of an experienced consumer protection attorney to help ensure that all of the potential issues that may result from identity theft are addressed.

Information on credit reports related to an unauthorized account raises complex legal issues. While the first step of solving identity theft related obligations is more obviously, the full scope of a consumer’s harm may not be fully resolved without attention to the potential damage to a credit report that results from a credit reporting error tied to the fictitious account.

Consumer protection attorney Thomas R. Breeden can take swift action to ensure a positive resolution. He knows how to motivate financial institutions that aren’t taking the right measures in a timely manner.

Other Credit Errors

Mistakes on your credit report can be a huge headache. It often requires a great deal of prodding to get credit companies to fix these errors. In the meantime, your credit may be suffering, holding you back from financial opportunities.

When you work with attorney Breeden, he will work hard to resolve the error. He provides the meticulous attention to detail and the determined resolve that it takes to fix these issues.

We Offer Initial Consultations

To discuss your credit protection case with a trusted credit report error and consumer protection lawyer, e-mail us or call us at 703-659-0188 or 703-659-0188 today. We provide a low-cost initial consultation to help you understand your legal options.