As a consumer, your credit report is essential to your finances. However, when you find a discrepancy or inconsistency in your report, you may file a dispute. In the event the dispute is denied, you may not know how to proceed. If your claim is rejected, understanding how a California credit report lawyer can assist you through these times is essential. The following blog explores the steps you should take if your credit report dispute is rejected.
Why Might I Need to File a Credit Report Dispute?
There are a number of reasons someone may need to file a dispute about information on their credit report. The first regards information that can directly impact your credit score. Your score directly affects your ability to apply for loans, housing, credit cards, and other financial areas, so ensuring it is accurate is crucial. Inaccuracies that impact your credit score include inaccurate account balances, listing closed accounts as open, claiming you have made late payments, and duplicate listings.
You may also need to file a dispute if the personal information on your account is incorrect. If your name is misspelled, your birthday is incorrect, the address on your report is outdated, or your social security number is wrong, you may be unable to secure a loan if the information on your account does not match the details on your credit report.
Why Do Disputes Get Denied?
If you file a dispute, you may be dismayed if it has been denied. There are a number of reasons that a report may be denied by a credit reporting agency. For example, if you include too many grammatical or formatting errors, the agency may be unable to read the dispute. This can result in a denial of your report. You may also find that including too many items in one claim can result in the dispute being rejected.
When your report is denied, knowing how to proceed is crucial. Unfortunately, you’ll need to include additional information if you wish to resubmit the claim. Simply resubmitting the same dispute may have your claim flagged as frivolous, meaning it will be rejected.
If your dispute, despite showing the information on your account is incorrect, is still denied, you may not know what else you can do to fix your credit report. At Loker Law, we understand how frustrating this can be and the implication it can have on your finances. As such, we will do everything possible to help you through these times. Our dedicated legal team is ready to stand up to any credit reporting agency refusing to fix the information on your account. Contact us today to learn how our firm can assist you through this challenging time.