Jury Awards $18 Million for Credit Report Errors

credit-report-error-consumer

One of the major issues facing consumers today is errors on credit reports.

Sometimes the errors are because items reported by debt collectors.

In other cases, the errors persist after a consumer sent a dispute letter to the credit reporting agencies.

In a recent case, a federal jury awarded a woman over $18 million dollars because of errors on her credit report. The woman testified that she contacted Equifax eight times over a two-year span to correct alleged inaccurate information on her credit report.

She alleged that her report had the wrong social security number, wrong birthday, incorrect accounts in collection, and erroneous accounts. However, it should be noted that Equifax will likely appeal the decision, so it may be years before there is a final decision.

If you believe there is inaccurate information on your credit report, you can use this dispute letter to request an investigation. If you believe you need additional assistance, feel free to contact me.

(photo: http://www.flickr.com/photos/nickwebb/3016498475/)