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Credit Bureau Complaints Surge: Attorneys Crucial

Credit Bureau Complaints Surge: Attorneys Crucial

complaints surge on credit reportingCredit Bureau Complaints Surge: Attorneys Crucial

The three largest credit bureaus, Experian, TransUnion, and Equifax, are currently facing an unprecedented increase in consumer complaints, according to a recent report by the PIRG Education Fund.

The study revealed that complaints filed with the Consumer Financial Protection Bureau (CFPB) nearly doubled in 2022, with a significant portion directed at the major credit reporting agencies. In such situations, attorneys are often needed to step in on behalf of consumers to ensure their rights are protected and their issues are adequately addressed.

The PIRG Education Fund report disclosed that consumers filed 800,394 complaints with the CFPB in 2022, a considerable increase from the 496,000 complaints in 2021. Notably, about 70% of these complaints targeted the three credit bureaus. Ed Mierzwinski, the consumer program director for PIRG explained that most complaints stemmed from consumers’ inability to correct their credit reports and their frustration with the credit bureaus’ apparent lack of responsiveness.

For a large number of consumers, credit report errors can have serious consequences. Mierzwinski emphasized that credit scores play a crucial role in determining eligibility for credit, housing, and employment opportunities. As such, consumers are seeking fairness and economic opportunity, and the CFPB is striving to create a more equitable system.

Despite the surge in complaints, there have been some positive developments in how credit bureaus respond to consumer grievances. In 2021, only 9% of cases involving credit reporting issues were successfully resolved whereas, in 2022, the resolution rate rose to 40%. Mierzwinski attributed this improvement not to the credit bureaus’ goodwill, but rather to external pressure compelling them to perform their duties.

By taking the time to review your credit report and understanding how it works, you can ensure that it accurately reflects your financial history and protect yourself from potential problems like frauds and scams.

How to check your creditHow To Check Your Credit Report For Errors

Checking one’s credit report regularly is essential for maintaining good financial health and catching potential errors or signs of identity theft. Fortunately, consumers can access their credit reports for free from each of the three major credit bureaus—Experian, TransUnion, and Equifax—once a year. Here is a step-by-step guide on how to check credit reports at no cost:

  1. Visit This website is the only federally authorized source for obtaining free credit reports from all three credit bureaus. It was established as a result of the Fair and Accurate Credit Transactions Act (FACTA), which entitles every consumer to a free annual credit report from each of the three bureaus.
  2. Provide personal information: To access your credit reports, you will need to provide some personal information, such as your name, address, date of birth, and Social Security number. This information is necessary to verify your identity and ensure that only you can access your credit reports.
  3. Request reports from each bureau: Once your identity has been verified, you can request your credit reports from Experian, TransUnion, and Equifax. Although the information on the reports should be similar, there may be slight differences between the three. It is essential to check each report to ensure the accuracy of your credit information across all bureaus.
  4. Review your credit reports: After obtaining your credit reports, carefully review them for any inaccuracies or inconsistencies. Look for incorrect personal information, unfamiliar accounts or inquiries, and any late payments or other negative information that might be erroneous. It is crucial to identify and address any discrepancies, as they can negatively impact your credit score.
  5. Dispute errors if necessary: If you find any errors or discrepancies in your credit reports, it is essential to dispute them with the respective credit bureau. The dispute process typically involves submitting a written letter or filing an online dispute form, providing evidence to support your claim, and awaiting a response from the credit bureau. Keep in mind that it may take up to 30 days for the bureau to investigate and respond to your dispute.

Understanding credit reporting errorsUnderstanding Your Rights: Accessing and Addressing Credit Report Issues

In addition to the annual free credit reports, consumers can also access their credit reports for free under specific circumstances, such as being denied credit, being a victim of identity theft, or being unemployed and planning to look for a job within 60 days. Regularly checking your credit reports and promptly addressing any issues can help maintain your financial well-being and ensure that your credit score accurately reflects your credit history.

When consumers encounter errors on their credit reports, they should immediately report the issue to the respective credit bureau. Additionally, they can submit a complaint to the CFPB. However, as the volume of complaints continues to rise and the credit bureaus’ responsiveness remains inadequate, attorneys often need to intervene on behalf of consumers.


Legal Assistance in Credit Reporting Disputes

Attorneys can provide crucial support when navigating the intricacies of credit reporting disputes, ensuring that consumers’ rights are safeguarded at every step. They can assist consumers in collecting evidence, crafting dispute letters, and effectively communicating with credit bureaus. Furthermore, attorneys can champion their clients’ interests, holding credit bureaus accountable for their actions and helping consumers achieve the appropriate resolutions to their issues.

Legal recourse to repair credit errorsLegal Recourse for Consumers Against CRAs

In the event of credit report errors, consumers can explore various legal avenues. An attorney experienced in consumer protection laws can evaluate the situation and devise a suitable strategy tailored to each case. Possible legal actions may involve filing a lawsuit against the credit bureau, seeking compensation due to Fair Credit Reporting Act (FCRA) violations, or demanding that the bureau rectify any inaccuracies in the report.

Attorneys are also adept at negotiating with debt collectors, who may be accountable for some items appearing on credit reports. This expertise enables them to collaborate with clients to settle debts or remove specific items from their credit reports. Additionally, attorneys possess a thorough understanding of identity theft issues and can offer guidance on safeguarding personal information and credit reports.

In summation, the drastic increase in consumer complaints against Experian, TransUnion, and Equifax underscores the importance of legal intervention in credit reporting disputes. As the gatekeepers to consumers’ financial futures, credit bureaus must be held accountable for their actions and responsiveness. By involving attorneys in the process when needed, consumers can ensure their rights are upheld and their credit report issues are properly addressed.


Led by attorneys J. Andrew Meyer and Michael D. Finn with a combined 75 years of legal experience in consumer and credit law. The Finn Law Group is dedicated to protecting the rights of consumers concerning all facets of credit reporting. The Finn Law Group litigates cases across the country involving false, inaccurate, and misleading entries appearing on credit reports, identity theft issues, and violations of the Fair Credit Reporting Act (FCRA). If you believe that your rights have been violated due to errors on a credit report or other unfair practices by a credit bureau, contact us today for a free consultation. Our experienced attorneys will fight tenaciously to ensure that justice is served and that you receive the compensation you deserve.

Please do not hesitate to reach out if you have any questions or would like more information about our services. We look forward to hearing from you! For more information on credit reporting issues, follow us on Twitter.

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