Credit report errors affect millions of Americans and spotting a debt that isn’t yours on your credit report is one of the most troublesome. If you’ve checked your credit report and noticed a new loan or line of credit—or, worse yet, if debt collectors are already shaking you down for a debt that isn’t yours—what should you do?
Credit problems for debts that don’t belong to you are unacceptable, and they can have a significant impact on your financial future. If someone else’s debt appears on your credit report, read on to discover what you must do.
Why Is Someone Else’s Debt on My Credit Report?
If you see a suspicious debt like a line of credit or loan on your credit report, a mixed file error is often the cause. The big three credit bureaus—Equifax, Experian, and TransUnion—rely on information in their database to generate your credit report. Their data systems are designed to accommodate a certain amount of error, which means when information is input into their database, the system will accept it—even if it’s not an exact match.
A shared name, birth date, address, or similar Social Security Number can cause a mixed file error. This mistake is often hard to correct since credit bureaus are dealing with thousands of disputes each day. They simply don’t have the manpower to fix problems like a mixed file error individually.
An incorrect debt can also be caused by identity theft which occurs when someone opens an account in your name. So, what can you do to remove erroneous debts on your credit report? You need the assistance that only an experienced credit dispute attorney can provide so that you can fix this error and pursue financial compensation, if applicable.
Disputing Someone Else’s Debt on Your Credit Report
If you find an incorrect debt on your credit report, you need to dispute it with the credit bureaus immediately. Unpaid debts can damage your credit score; prevent you from securing a credit card or loan; cause you to pay higher interest rates; and many other problems. You must submit a dispute to each bureau and identify the information that doesn’t belong to you.
While submitting information seems like a straightforward process, it rarely is when you’re dealing with credit bureaus. Retaining a team of credit dispute attorneys is a better option than going it alone. They understand who to contact at the credit bureaus and how to submit essential information to fix any credit report error you’re dealing with—whether it’s a mixed file error, identity theft, or anything else—and pursue financial compensation for your troubles, when applicable.
Remove Someone Else’s Debt From Your Credit Report With the Help of Boss Law
If you’ve checked your credit report and spotted a debt that isn’t yours, there’s no need to panic—the team of experienced credit dispute attorneys at Boss Law is ready to help. We’ll dispute any error on your credit report, resolving the problem immediately while pursuing financial compensation for your situation whenever applicable. Call us today at (727) 877-3188 for your free consultation.