Last week the Consumer Financial Protection Bureau began accepting complaints about credit reports. Credit reports affect whether or not you are able to get a credit card or a loan, the ability to rent an apartment or get hired, and even simple things like getting a cell phone. It also can affect how affordable or expensive these things will be for you.
You are entitled to one free credit report per year from each of the three credit reporting bureaus: Experian, Equifax and TransUnion.
It is extremely important to ensure that the information on your credit report is accurate. The best way to monitor your credit report is to stagger each report throughout the year. If you request a credit report every four months, you will be able to compare each agency’s report and check for errors or fraudulent accounts.
The CFPB can now help consumers with individual-level complaint assistance on issues with their credit report. The types of complaints you can submit to the CFPB include:
- Incorrect information on a credit report
- A consumer reporting agency’s investigation
- Improper use of a credit report
- Being unable to get a copy of a credit score or file
- Problems with credit monitoring or identify protection services.
Before filing a complaint with the CFPB, try filing a dispute directly with the credit reporting company itself. There are important consumer rights guaranteed by federal consumer financial law that are best preserved by you first going through the credit reporting company’s complaint process. Contact the CFPB for additional information on your rights.
After you file a complaint with the credit reporting company, if you are dissatisfied with the resolution, file a complaint with the CFPB.
Survey Says: Lemon Law Compliance on the Rise posted on Dec 29
The Massachusetts Lemon Laws provide legal relief to consumers who are sold a new, used, or leased vehicle that has a significant defect to its safety or use. Under these laws, car dealerships are required to place a bright yellow Lemon Law sticker on each …Continue Reading Survey Says: Lemon Law Compliance on the Rise
Everything you wanted to know about gift returns but thought it would be rude to ask posted on Dec 22
Purchasing or receiving an unwanted gift can be one of the most frustrating – and uncomfortable – things that can go wrong over the holidays. For this reason, most people prefer the reassurance when they purchase an item that they can return it if it …Continue Reading Everything you wanted to know about gift returns but thought it would be rude to ask
All I Want for Christmas is Price Scanning Accuracy posted on Dec 19
The Massachusetts Item Pricing Law was written to ensure that food retailers remained consistent and accurate in how they charge consumers. Since its last update in 2013, the law has been extended to cover consumer-use price scanners and automated check out systems. The Division of …Continue Reading All I Want for Christmas is Price Scanning Accuracy