SOUTH CAROLINA MAN SPENDS 2 YEARS TRYING TO CORRECT EQUIFAX CREDIT REPORT

A South Carolina man, Mike St. Peter, has fought Equifax for years to correct his credit report.  The problem started when Mr. St. Peter discovered a mortgage balance on his Equifax report that never changed – despite making his mortgage payments.  He signed up for a credit monitoring program and saw his mortgage balance staying the same month after month with Equifax.  The Equifax credit report said he owed more than $30,000 on the mortgage and he had not made a payment on the loan since 2008.  As a result, Mr. St. Peter’s retirement plans were put on hold.  You see Mr. St. Peter wanted to purchase an investment property, fix it up and rent it out, but the outstanding balance that never decreased negatively affected his credit rating.

 “When I go to a bank and I want to borrow some money to buy a rental property which we want to fix up and get more income for my retirement years, they look at that and they see a great big debt there. And the total debt doesn’t change,” said St. Peter.

For 2 years, Mr. St. Peter tried to get the credit reporting agency to correct his credit report.  His Equifax credit report was not corrected until he contacted a local news reporter and the reporter relayed his story to Equifax.  Within 48 hours, Equifax was calling Mr. St. Peter to let him know they were correcting the problem.  FULL STORY

Have you discovered incorrect mortgage balances on your Equifax credit report?  You don’t have to call a reporter to correct your credit report.  The Fair Credit Reporting Act (FCRA) requires credit reporting agencies to perform an investigation when you dispute credit report errors.  If the credit reporting agency does not perform the investigation or verifies incorrect information you have the right to file a lawsuit in federal court against the credit bureau.  The FCRA also has a fee shifting provision that allows you to recover attorney fees if you make a recovery.  Don’t delay contacting a credit report dispute attorney about your situation because the statute of limitation may bar you from filing a lawsuit against the credit reporting agency or the mortgage company.

For more information about your rights under the FCRA contact consumer protection lawyer Micah Adkins 24/7 at 1-800-263-9091 for a free consultation and credit report review.  Contact us now online using the form below.

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