When you are seeking a new credit card or a mortgage loan, you want to put your best foot forward and ensure that your credit report is in order. However, what if you discovered that you were denied a loan or credit based on the mistakes of a credit reporting agency, or you found errors on your credit report? 

Unfortunately, these situations are very common. Credit agencies make mistakes on credit reports consistently. When credit agencies make errors on your credit report, the Minneapolis credit report lawyers at Berger Montague can help you hold these agencies accountable.

How Often Do Credit Agencies Commit Errors on Credit Reports?

According to a study conducted by the Federal Trade Commission (FTC), about 25% of American consumers noticed errors on their credit reports. The study also discovered that nearly one in five American consumers noticed an error that a credit agency had to correct after the consumer disputed the mistake. 

What Types of Errors Do Credit Agencies Typically Create on Credit Reports?

Errors can affect almost any item of information that appears on a credit report, including: 

  • Inaccurate information regarding the status of an account
  • Incorrect information about an account balance 
  • Accounts or other information that does not belong to you
  • Inaccurate personal information, including inaccurate name, address, or Social Security number
  • Inaccurately showing that you are deceased

Although some of these errors may seem small, they can impact your credit score and credit history in a major way. Call a Minneapolis credit report lawyer from Berger Montague today when dealing with issues related to your credit report.

How Can Credit Report Errors Affect Your Credit Score?

The errors on your credit report can lower your credit score, especially if the errors include negative information about accounts or payment status. When your credit score is lower, you can be forced to pay higher credit card interest rates, higher mortgage interest rates, and higher car insurance premiums. You are also at risk of being denied a particular credit card and loans. 

Because some landlords and employers look at credit reports, you may even be at risk of losing out on a job opportunity or the housing of your choice. 

What Leads Credit Agencies to Mistakenly Report Someone as Deceased?

One major mistake that many consumers experience is being mistakenly reported as dead on their credit reports. Being mistaken as deceased is a costly mistake that can affect every aspect of your credit report. Often, if you are marked as deceased, a credit agency will not issue a score for you, which will make it very difficult to obtain credit.

To resolve this issue, you should contact a Minneapolis credit report attorney. 

What Are My Rights as a Consumer Under the Fair Credit Reporting Act?

Consumers nationwide are protected by the Fair Credit Reporting Act (FCRA). This federal law protects consumers from unfair practices and inaccuracies made by credit reporting agencies. It establishes rules governing how these agencies collect, use, and share your financial information. 

Under the FCRA, consumer reporting agencies can be held accountable for inaccurate reports or privacy violations. The FCRA grants consumer rights, including:

  • The right to be informed if your credit report information is used against you for the denial of an apartment, employment, or an application for credit
  • The right to request a file disclosure of all the information a credit reporting agency has on file about you (one free file from each credit reporting agency every 12 months)
  • The right to access your full credit report (others have restricted access unless they have a permissible purpose and written consent)
  • The right to dispute inaccurate information on your credit report, whereby the credit reporting agency is required to send you a notice about any dispute results
  • The right to opt out of the pre-screened credit offers sent by creditors and other agencies
  • The right to put a security freeze on your credit report, which prevents lenders from checking your credit report without your approval

How a Minneapolis Credit Report Attorney Can Help

When credit agencies commit errors on your credit reports, it can turn your life upside down. You may have to spend months or perhaps years fixing an issue that the credit agency should not have committed in the first place. 

At Berger Montague, our credit report attorneys in Minneapolis understand that you want to fix your credit report as soon as possible while also holding the credit agencies accountable for their mistakes. Our office in Northeast Minneapolis is the home base for some of the most experienced credit reporting attorneys in the country.

Here are some ways we can help you accomplish your goals:

Investigating Your Credit Report

Our Minneapolis credit report lawyers are capable of evaluating your credit report and searching for inaccuracies.

One of your rights as a consumer is the right to request a copy of your credit report from the credit agency. We can help you obtain a copy of your credit report, and we can review your credit report for errors.

Filing a Claim for Money Damages

Some victims of credit report errors are so focused on removing the errors from their credit reports that they may fail to understand just how valuable their cases are. They don’t think to pursue other legal actions against credit agencies. 

However, under the FCRA, you have the right to file a claim against credit agencies for money damages. You are permitted to file a claim against credit agencies if it has been proven that the credit agency’s mistake has caused you financial harm. 

Our Minneapolis credit report lawyers are qualified to file your claim and fight for your compensation.

We Have a Successful Track Record of Credit Report Cases

Named “Trial Lawyer of the Year” multiple times by the Public Justice Foundation, Berger Montague has an outstanding record of success. Since 1970, we have recovered over $36 billion in settlements and verdicts for our clients in precedent-setting individual and class action cases.

We are an elite legal team nationally recognized for our ability to handle major complex litigation. With 50 years of experience and over 65 lawyers representing clients in offices nationwide, we’ve had plenty of success in cases in the Minneapolis area, including:

Taylor v. Inflection Risk Solutions, LLC, No. 20-cv-02266-PAM-JFD (D. Minn.): A class action alleging Inflection Risk inaccurately characterized non-violent crimes as being an offense class of “violence” on its consumer reports, and in Minnesota, fails to accurately report convictions that were deemed misdemeanors pursuant to Minn. Stat. § 609.13.

Mary Elizabeth McDonald v Equifax Information Services, LLC, No. 0:21-cv-00841-DSD-JFD: A mixed-file case including violations of 15 U.S.C. § 1681e(b) and 15 U.S.C. §§ 1681b(a) alleging that the plaintiff’s credit file was combined with the file of an unrelated consumer with a different middle name and Social Security number, and who lives in a different state.

Wendy Marie Rosenberg v Equifax et al, No. 0:21-cv-00085-MJD-JFD): A status case including violations of 15 U.S.C. § 1681e(b), 15 U.S.C. §§ 1681i, and 15 U.S.C. § 1681s-2(b).

Contact Us to Inquire About a Credit Reporting Individual or Class Action Lawsuit

Do not hesitate to contact us about a potential case. At Berger Montague, our credit reporting individual lawsuits and class actions are brought on a contingency fee basis. That means our clients do not pay out-of-pocket attorneys’ fees or litigation costs, and we only take a fee if the case is successful. 

Under the FCRA statute that provides for fee-shifting, attorneys’ fees and costs are paid from the recovery obtained in the lawsuit or class by the other party. For class actions, these fees are subject to court approval.

Submit our contact form to schedule a consultation with a Minneapolis credit report lawyer at Berger Montague today.

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