What If the Credit Reporting Agency Does Not Correct Your Report?

Inaccuracies on credit reports have been termed an “epidemic” with figures on reported inaccuracies and complaints rising more than twofold in recent years. The remedy is supposed to be a series of simple steps, but it is often not as easy as it sounds.  

Unfortunately, what you hear after following them may not be what you expected. The agency may simply say the information has been verified as accurate and refuse to correct your credit report. You need not accept this as a final answer. Here is what to do if a credit reporting agency does not correct your report. 

Write to Your Creditor

If a creditor has sent an agency incorrect information, you can contact them directly, asking them to correct the issue. If they confirm that they recognize the error and pledge to rectify it, send a copy of their response to the agency. If they do not respond or try to brush you off, you will have to escalate the matter. Try contacting a more highly ranked decision maker, and if that fails, move to the next step. 

Refile Your Florida Dispute With the Credit Reporting Agency, Providing More Evidence This Time Around 

Refiling the dispute only has a chance of working if you can provide more evidence than you did the first time.  If you do, the credit reporting agency can take your new information into account, reconsider your dispute, and may capitulate. If you don’t, they will likely not consider reevaluating your complaint, and they are within their rights to do so. 

File a Complaint With the Florida Financial Protection Bureau

If you have tried these options and are still stuck with errors on your credit report, you can file a complaint with the Consumer Financial Protection Bureau (CFPB). In essence, they will do what you already did, but from a more empowered position. They will talk to creditors and the credit reporting agency and try to resolve your complaint. It may even take enforcement action against your creditor if many people have similar issues and the irregularities are deliberate. 

Report the Matter to the Consumer Protection Agency in Florida

In Florida, you can report a credit reporting agency that does not correct your report or a creditor that refuses to retract incorrect financial information to the office of the attorney general. They have consumer protection responsibilities and may be able to help. 

Can You Sue a Company for Inaccurate Credit Reporting in Florida?

If you took all the appropriate steps and still cannot get your credit report corrected, consult an attorney. If all you want is a correction, they can present your case better than a layperson can. If you suffered real damages because of the incorrect report and an inadequate response after you disputed it, the credit agency may be liable to pay you compensation. 

The law under which you would be entitled to sue is the Fair Credit Reporting Act. In some instances, it may also be possible to sue the creditor, but preventing them from avoiding liability may be difficult. Your credit report error lawyer can evaluate your case and advise you accordingly. 

Mitigating the Negative Effect of Credit Report Errors While Your Dispute is Being Processed

After you have filed a dispute, you are entitled to expect your credit reporting agency to indicate the disputed information and your explanation of the dispute. A professionally drafted explanation, published in full, can show potential creditors accessing your report that certain information is disputed and why that may be so. 

If a Credit Reporting Agency Does Not Correct Your Report, Consult a Florida Credit Lawyer

You spotted trouble on your credit report, and you seem to be stuck with it. Working through all the channels and presenting your case in a compelling way can be challenging. So, if you do not achieve an easy resolution of your complaint, professional help may be in order. That is especially true if your complaint is a complex one. For example, it is a result of identity theft.