A Vendor Has Wrongfully Filed an Item With Your Credit Rating Agency: What to Do

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Oftentimes, a creditor or vendor wrongfully files something with your credit rating agency. All of a sudden, you find your credit lowered by hundreds of points, with collection agencies knocking at your door. Black marks on your credit can have detrimental consequences for future financial transactions, like opening a credit card.

How to Dispute with Credit Agencies

Consumers have many resources when it comes to filing a complaint with credit rating agencies. Upon finding the incorrect data on the credit report, you can contact the creditor or vendor directly, and demand that they tell the credit reporting agency to remove the black mark from the credit report. You can also file a series of complaints: To file against the credit reporting agency, you can contact the Consumer Financial Protection Bureau (CFPB). To file a complaint about the creditor, you can contact the Federal Trade Commission (FTC).

According to the FTC, the nationwide credit report companies are required to provide free credit reports to consumers at their request once every twelve months. A sample dispute letter to send to the credit reporting company can actually be found on the FTC website.

At that point, the credit reporting company and information provider is responsible for correcting inaccurate information in your report. The company has to investigate the dispute within 30 days, and forward the data to the organization that provided the inaccurate information, such as the creditor or vendor. The creditor or vendor must then notify the credit company to correct the information, and provide you with the results of the investigation.

How to Sue for Incorrect Credit Reporting

In addition to complaints, you can also sue the credit reporting agency or creditor under FCRA 15 U.S.C. §1681. You can also add an explanatory statement to the credit report—after you file a statement about the dispute with the credit reporting agency, the agency has to include the statement in any report that includes the disputed information. Reiter, supra. Suits can result in statutory and even punitive and emotional damages.

You can also reach out to your state’s consumer protection agency, the state attorney general, or their congressional representative.

EPGD Business Law is located in beautiful Coral Gables, West Palm Beach and historic Washington D.C. Call us at (786) 837-6787, or contact us through the website to schedule a consultation.

*Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns. Contacting us through our website does not establish an attorney-client relationship.*

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Eric Gros-Dubois

Eric P. Gros-Dubois founded EPGD Business Law in 2013 and is the current head of the firm’s corporate, estate planning, and tax practice, and manages the firm’s Washington D.C. office. With a JD and MBA, and a specialization in finance, Eric is able to step back and view the legal world through a commercial lens while also acting as a trusted business advisor for his clients. He does his best to be solutions oriented, and tries to think like a business owner, not just a lawyer.


*The following comments are not intended to be treated as legal advice. The answer to your question is limited to the basic facts presented. Additional details may heavily alter our assessment and change the answer provided. For a more thorough review of your question please contact our office for a consultation.

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