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You may be able to sue a creditor or credit reporting agency if there is wrong information on your credit report that is not being removed.
What Are Common Credit Reporting Errors?
According to a study by the Federal Trade Commission (FTC), one in five Americans have an error on at least one of their credit reports. In many cases, these credit errors could have an impact on their credit score and their ability to apply for a loan.
Some possible credit reporting errors may include accounts or debts that don’t belong to you, improperly reported accounts, doubled credit report entries, reporting on a disputed loan, and more.
A number of factors can lead to credit reporting errors. In some cases, human or clerical error results in accounts being added to the wrong credit report. In other cases, a creditor may continue reporting a debt despite a successful dispute. Other credit errors may be a result of more insidious situations such as identity theft.
Credit reporting agencies such as Equifax and TransUnion have also been accused of misreporting public records such as civil judgments and tax liens – resulting in settlements to resolve the class action claims against them.
Regardless of the cause of a credit report error, these mistakes can have serious adverse effects on consumers looking to secure a car loan, mortgage, rental agreement, and other transactions based on credit scores.
Can You Sue for Wrong Information on Your Credit Report?
If you dispute an error on your credit report with any of the credit reporting agency, they are required to investigate the issue and either delete an error or report back their findings to you. In some cases, the creditor may tell the credit reporting agency that the entry is correct, meaning that they will not remove the item.
Should a credit reporting agency determine that the error is not accurate, you can try to work things out with their creditor. In some cases, a creditor will agree that the information is wrong and can provide a letter to be sent to the credit reporting agency.
If the issue remains a problem with no feasible alternative, you can look into filing complaints. The Federal Trade Commission (FTC) accepts complaints about credit reporting agencies and creditors on their website. State agencies and attorneys general may also have similar complaint systems available.
Another option is to sue the creditor or credit reporting agency. If a credit reporting agencies report false information after a consumer attempts to correct wrong information on your credit report, they may be in violation of the Fair Credit Reporting Act (FCRA). Similarly, if creditors continue to report false information, they may also be in violation of FCRA. However, it is generally easier to bring claims against a credit reporting agency than it is to bring claims against a creditor.
An experienced lawyer will be able to help you determine if you are able to sue anyone for wrong information on your credit report. If you have legal standing, they will be able to help you argue for your case in court and seek compensation, if applicable.
Join a Free Credit Report Errors Lawsuit Investigation
If you have errors on your credit report, you may qualify to participate in a credit report lawsuit investigation.
This article is not legal advice. It is presented
for informational purposes only.
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14 thoughts onCan You Sue for Wrong Information on Your Credit Report?
I used his service back in 2018. I was in a depressive state…He changed my life. Amazing guy.
I want to sue the credit bureaus tell me how
Add me please. I switched from Verizon to T-Mobile and my Verizon bill is paid in full. Verizon reported me on my credit report as 60 days delinquent and when I provided proof of payment increased the amount owed. I need help with this one. It is hurting my credit score. Verizon looks to be setting themselves up for an end of year charge-off which they can then report as a deduction on their taxes. But I don’t owe them anything. I have tried 3 times to get this removed and they won’t budge.
file a complaint with you state Attorney General’s Office; cellphone companies tend to take notice and fix the problem when the AG’s office contacts them. I did file complaint TWICE against AT&T; problem was fixed within 30 days
It’s amazing how credit.com (I guess run by creditors?) gets by with telling people lies. They claim a collection agency who buys a debt can report it as a newly opened debt and all kinds of insane lies! I can’t believe they get by with it! Ima bout to reem transunion for allowing wrong information over two times just because this sleazy debt buyer says so. It’s Insane! I’m going to lay it on thick and ask for every bit of info including notary. I wish I could charge them for the time it takes me to do this crap
Do you have a source for this?
I purchased a car from a VW dealership. Turned around and traded that car in just a few months later. The finance person that did my paperwork got a new job. My paperwork sat on her desk. The payoff took place a month later. My credit score dropped -160 pts… I had good credit now it’s ruined. I’ve been working hard to get it back to where it should be. I’m told they are working on it.
I have a serious issue with Infiniti Financial / NMAC reporting me monthly car payments 100% incorrect in March 2020 and June – October 2020. I had a lease (my 5th lease with them) I have spent over 9 months disputing, this is not at the fault of any of the 3 bureaus, this is the fault of my lender who when I went to re lease I didn’t get approved, I literally had my own current lender (I turned my car in last month as my lease was up) but they ruined my credit. They said they didn’t report me as negative / missed payments / nothing. They will not correct and they actually credited my Augusta payment back and then turned around and reported me 60 days late. They lied and they won’t speak to me now. I have contacted Experian quality assurance / compliance and have a wonderful contact who has told me every single thing that took placed behind the scenes since “live credit” is something they can see. He offered to do a conference call with they wouldn’t reply, I copied him on at least 10 emails That I got not one reply from. I now don’t babe a car. My score dropped over 170 points just like that. If there are others that made all payments and on time and this happened I am going to figure out a way to sue them. This is life changing. Credit is critical. It affected me in so many ways, I have no words.
This is when you contact the FTC Like in the post dear
Lender falsely reported me late for 2 months.
My auto loan with US bank was on hold from April- June which they approved. During the past two months I have applied for loans but have been turned down. I finally checked and noticed they have been reposting me as a late payment which end up cutting all my other CC limits and I dropped 70 points. They have acknowledged the issue and I have their contact name and have reported them to all the agencies to remove their bad / false rating but can take month and now I can’t get any loans during this Covid hardship.
Anything I can do to sue them for the damages and stress they have caused me? I’m a small business owner.
Thanks!
Something similar happened to me but with my mortgage lender. Caused me to loose a job and now my finances are in shambles. Although they went back and corrected it the real damage was already done and my job had already hired a replacement. Did you ever find anyone to help you? Please message me back there information if possible. This company has ruined my life.
Wow! I want to say a big THANK YOU to you Tonya for choosing to share your experience working with these amazing hacker on this platform. You are a life saver. I live a stress-free life now and its all thanks to you and “You Do Need Great Credit”!. My credit is now in excellent form.
I would Love to File a Lawsuit against The Big Three Credit Houses, BUT They Have Hacked me 7 Times and Now Have Taken OFF The Credit Freezes. The Facebook Hack,Equifax,Unitypoint Hospital,Etc. It Seems Just after I Bust My Ass Getting My Credit Cleaned Up, Here Comes Another Data Hack!
My credit was screwed up badly by bank. Because of that, my loan application failed. It took five months for the bank institution to fix it. Even though it was fixed, but the interest rate had been increased a few times. I no longer could buy any property. Could I sue the bank for damages and the efforts that I spent.