Credit Reporting Errors

Your credit report and credit score have for many years have been important factors in obtaining loans.  Prior to the sub-prime lending crisis and the falling economy in 2008, a lower credit score usually just meant you paid a higher price to obtain credit.  But since then, tightened lending standards and a flat real estate market have meant that a lower credit score can mean an inability to obtain a loan.  This has kept many people from purchasing a home or even a car.

As such, incorrect and inaccurate information on your credit report can be devastating to both your ability to obtain credit and to the credit terms you ultimately get.  Inaccuracies can range from something as obvious as an account that is not yours to old information that should have already been removed from your credit reports.  The most common types of inaccuracies that I see in my practice are as follows:

  • Your spouses card or another account of which you are only an “authorized user” appearing on your credit report
  • Account “Re-Aging”:  When a collection company or debt buyer changes your delinquency date on an account to keep the account on your report longer
  • Accounts appearing as the result of identity theft
  • Misidentification: “It’s not me.”  Usually occurs with family members having the same name or with people having similar social security numbers
  • Accounts having been discharged in bankruptcy still appearing on a credit report as due and owing
These are the the most common inaccuracies and there are certainly many more that could be incorrectly dragging a credit score down.  Below are articles that I have written relating to credit scores and credit reports and how the legal system can be used to correct problems that cannot be fixed through other means.  These articles are general in nature and may not apply to a particular set of facts, but please call, email, or use the “Email Ashton” button at the top right of this page to discuss your specific set of circumstances.
Thumbnail image for Credit Reporting Errors: Re-Aging – “Who is that Creditor, and How Long is that Account Going to Stay on My Credit Report?”

Credit Reporting Errors: Re-Aging – “Who is that Creditor, and How Long is that Account Going to Stay on My Credit Report?”

  Re-Aging could be a major concern for anyone that has had an account turned over to collections.  Re-Aging is a process in which a debt collector changes the date that an account was first reported delinquent so that an account will stay on a person’s credit report longer than it should.  A delinquent account […]

Read More »
Thumbnail image for Credit Reporting Errors: “It’s not my account, it’s my spouse’s.  I’m only an authorized user.”

Credit Reporting Errors: “It’s not my account, it’s my spouse’s. I’m only an authorized user.”

  Most people seem to have an understanding that in a marriage that “what’s mine is yours and what’s yours is ours.”  This is especially true in a community property state like Texas.  Therefore, it may seem natural to look at your credit report and see a credit account that is only in your spouses […]

Read More »