I recently had an issue in which I went to check my credit score to apply for a mortgage. When I saw my credit score, it said that I had purchased a motorcycle about a year earlier, and I was making payments on it. Knowing that my girlfriend would kill me if I did that, and that I lived in Australia while I apparently bought this bike, I was a bit shocked. Luckily for me, the bike was bought by a family member, and the payments were being made, I was only mad that it was inaccurate. It could have been a lot worse.
Imagine it was a negative report – A credit card company reported that I don’t pay my bills- or something else. There are lots of reasons why these types of things can happen, but the problem is that they do.
Small Claims Court is a great place to make up for this type of problem. If you were denied a loan, or you have taken a loan on a high interest rate simply because there was an inaccurate credit report, then you may have a very good case against the credit bureaus.
Small Claims Court judges will give out punitive damages to plaintiffs who have been effected by these giants credit bureaus. They are responsible, the power imbalance is huge!
Check out this article about a man who was effected by this:
Equifax and Transunion offer credit checks through the mail for free, and over the internet for a small fee. You’ll find their links on my website.
If you have this problem, please contact me. I would be happy to discuss how I can help.