If you’ve ever had an error show up on your credit report, then you know how difficult the process is to dispute that error. With credit reports being one of the single most important aspects affecting your ability to purchase a car or home, having an accurate credit score is imperative.
Until now, the three major credit reporting companies, Equifax, Experian, and TransUnion, have made it unbelievably difficult for you to get errors on your credit report altered. On Monday, New York officials announced that the credit reporting companies are going to overhaul a lot of their practices in order to make credit report errors less common and easier to fix.
According to the Consumer Financial Protection Bureau, 52% of debt that appeared on credit reports was from medical changes. One of the major changes involved in the credit reporting companies’ overhaul is that they will wait 180 days before allowing medical bills to show up as unpaid on a credit report.
The other changes proposed for the overhaul include the following:
- Adding employees that have extensive training on reviewing credit report complaints
- Assigning employees to review disputes issued by creditor companies or banks
- Removing medical debts from credit reports once they’re paid rather than leaving them for 7 years as is the current policy
- Making it more obvious how to get an annual free credit report
- Allowing a second free credit report if changes occurred to a credit report within the same year as the first credit report
How to Get Help from Our Riverside Credit Report Lawyer
At The Law Office of Howard Silver, our Riverside, California credit reporting attorney has had decades of experience helping clients remedy their credit report. Mr. Silver understands how to navigate this difficult side of the law and can help inform you of your rights under the fair credit reporting act. If you need assistance with a credit reporting lawsuit, please contact us today by calling (855) 341-2611.