Credit Reporting Agencies tend to make mistakes when creating credit reports. Some of these mistakes are harmless, but some can cause serious economic harm. Whenever you find an error on your credit report, you should dispute the error. But what are the most common errors we see?
Mixed File:
Often times, people who have the same name or other similar identifying traits can find their credit reports mixed with another. This is most common within families where there is a junior and a senior, or twins with similar names. However, your name and birthdate, and parts of your social security number, can have you mixed up with a complete stranger. Many times consumers see this other person’s information and assume that person is committing identity theft. But that’s not necessarily the case. Information can appear on your report because your identifying information closely matches that of another.
Identity Theft:
Identity theft is still one of the greatest problems facing consumers in the marketplace today. Cyber criminals have gotten sophisticated. Thieves may steal your personal information and get credit cards in your name and run up bills. When those bills go unpaid, the creditors will report the account information to the credit bureaus. Those accounts will naturally end up on your report as it will have your name, date of birth, and social security number with it. When you are a victim of identity theft, you should (1) report it to the police; (2) go to www.idtheft.gov and prepare an affidavit; (3) contact the credit reporting agencies to put a fraud alert on your files. After that, you should check your credit report three times a year to see that no new accounts were fraudulently opened.
If you are finding one of these errors on your credit reports, contact SmithMarco, P.C. for a free case review.