Newark Credit Report Lawyer

If you hope to secure lines of credit, a mortgage, and build partnerships that can help you maintain a strong financial future, it is important to keep a close eye on your credit report and score. Too few people understand how important it is that your credit report accurately reflects your creditworthiness. This is, in part, because of the astronomical impact your credit score and report can have on your life. 

Sadly, countless individuals find that their credit reports are riddled with mistakes and errors that could have a devastating effect on their life for years to come. Fortunately, when you contact an experienced Newark credit report lawyer at Berger Montague for help, you can fix inaccuracies and hold irresponsible credit reporting bureaus accountable. Contact our office for a free consultation today and take your first steps toward rebuilding your credit report and credit score.

person reviewing credit report

Let a credit report lawyer look over your credit report and help with any discrepancies you may have found.

What Is a Credit Report?

When you need a line of credit, a personal loan, an auto loan, or are hoping to enter into some type of financial partnership, lenders and creditors can determine your creditworthiness and financial health by reviewing your credit report. 

The three primary credit reporting bureaus, Equifax, TransUnion, and Experian, are responsible for managing most credit reports across the United States. The credit bureaus use computerized models to assign each person a credit score based on the information contained within the credit report. As you can imagine, discrepancies and false information contained in your credit report can have a devastating impact on your ability to obtain a mortgage, to buy a car, or to be approved for a loan or credit card. 

Credit scores and models vary, but as a general rule, any credit score below 500 is considered low, any score below 620 is considered fair, and any score above 680 is considered good. The range of credit scores can be as low as 350 and as high as 850. Mistakes in your credit report can have a serious impact on your credit score. In turn, this could make it more challenging for you to find success financially.

Why Your Credit Matters

You may be wondering why it is important to maintain an accurate credit report and ensure your credit score remains high. In addition to having trouble obtaining lines of credit or building financial partnerships, issues with your credit report could impact your life in a number of other ways, such as:

  • Being denied for mortgages, auto loans, personal loans, credit cards, or other lines of credit
  • Having to pay deposits on utility accounts, housing, phone contracts, and other basic necessities
  • Losing job opportunities that require strong credit scores
  • Being forced to pay higher insurance premiums
  • If you are approved for lines of credit or loans, paying very high interest rates and receiving other unfavorable terms

Your credit report lawyer in Newark can help you avoid issues like these by going through your credit report in detail and addressing any inaccuracies with the appropriate credit reporting agencies.

Problems with Credit Reports in Newark

No one ever expects their credit score or report to be riddled with mistakes or inaccuracies. This is especially true if you are generally someone who is known for paying their bills and other expenses in a timely manner. But, credit reports are rife with errors. Some of the more common types of credit report errors and discrepancies you might find on your credit report in Newark include:

  • Accounts that do not belong to you
  • Incorrect personally identifying information
    • Wrong names or spellings
    • rong addresses 
    • Wrong birthdays
    • Wrong Tax ID numbers or SSNs
  • There are inaccuracies with your account status
  • Accounts belonging to someone else are on your credit report
  • There are multiple accounts on your credit report via different creditors
  • Inquires from companies you don’t recognize or do business with

These are only a few of the more common types of mistakes seen on credit reports in Newark. If you notice false, incorrect, or misleading information on your credit report, be sure to reach out to a credit report lawyer in Newark to discuss your concerns further.

Can Credit Reporting Agencies Mistakenly Report You as Deceased? 

Another common issue people have with their Newark credit reports includes being listed as deceased. This can happen if the credit bureau incorrectly matches you to someone on the Social Security Administration (SSA)’s Death Master File, or of if one of your creditors or lenders has mistakenly listed your account as belonging to someone who is deceased. 

You could run into several issues if you are reported as deceased on your credit report, most importantly that you are likely to be denied for all credit. The credit bureaus refuse to issue credit scores on consumers who they say are deceased, and many creditors will not lend to someone who does not have a credit score. 

Being falsely reported as dead on your credit report can result in trouble opening up new lines of credit and will certainly cause you to experience difficulty forming new financial partnerships. Your attorney can help you hold the appropriate party accountable so you can address these inconsistencies and get your credit report and score back on track.

What to Do with a Newark Credit Report Discrepancy

Since the credit reporting agencies are responsible for maintaining your credit report and score, it is up to them to ensure that your records are accurate and correct at all times. The Fair Credit Reporting Act (FCRA) is the law that allows you to hold credit reporting agencies accountable for their errors. Once you have concerns that there is an issue with your credit report in Newark, it is important to:

  • Obtain a copy of your credit report from all three credit bureaus
  • Go through your credit report to determine where errors have been made
  • Consult with an attorney about the best way to dispute false information on your report
  • File a dispute about inaccuracies
  • Try to reach a settlement or file a lawsuit against appropriate credit reporting agencies and creditors related to the errors on the reports

When credit reporting agencies have violated the FCRA, you can bring them to justice and recover the compensation you will need to handle the mistakes reflected on your credit report and score. With help from a credit report attorney in Newark, you can enforce your rights under the FCRA and begin to rebuild your financial future.

Many people do not realize that credit reporting agencies are required to pay monetary damages when they violate legal requirements regarding accuracy in credit reporting.  Consumers whose credit reports contain damaging errors can recover actual damages, statutory damages, punitive damages, and attorneys fees and costs. 

Contact a Newark Credit Report Attorney

Credit report errors and mistakes could haunt you for years to come. If you hope to protect your financial future and address the discrepancies on your credit report, you may need the legal guidance and support of a respected Newark credit report lawyer at Berger Montague

Our firm proudly offers no-cost, risk-free consultations to consumers across Newark and surrounding cities. Claim yours when you call our office or complete our online contact form.