60 Minutes exposed the credit reporting agencies’ mistakes in its investigative report.  Reporter Steve Kroft interviewed one consumer who discovered credit report errors when she was denied credit at a department store.  She requested her credit report from the bureaus, but the credit reports she received looked okay.  What she later discovered was that the report sold to creditors is not the same report that was provided to her.  Her potential creditors were provided reports which included information relating to other consumers!  For years she disputed the errors to the credit bureaus, but the incorrect items were verified as belonging to her.  The only way she was able to get the errors off her report was to file a federal lawsuit against Equifax and Trans Union under the Fair Credit Reporting Act.

The Fair Credit Reporting Act requires credit reporting agencies to perform a reasonable reinvestigation upon receipt of a dispute from a consumer.  If the credit bureau does not perform a reasonable reinvestigation, then consumers have the right to sue the agency in federal court and recover money damages.  Ohio Attorney General Dewine  said the “They’re  not doing a reasonable investigation, they’re not doing an investigation at all.”  If you make a written dispute to Experian, it may end up in Chile.  According to a former Experian dispute agent, agents have to review 90 disputes per day, but have no way to investigate the disputes let alone the authority to correct errors.  Another former Experian agent said, “The creditor is always right.”

Do you have credit report errors and feel helpless?  Contact a lawyer who represents consumers under the Fair Credit Reporting Act.  Attorney Micah Adkins represents consumers with credit report errors all over the country.  Contact Micah for a free credit report case review 24/7 at 1-800-263-9091.  The consultation is free!