TransUnion Errors Can Ruin Your Credit
Credit report errors are all too common. That is why the Fair Credit Reporting Act (FCRA) was put in place to help protect consumers. If you have received your TransUnion credit report and it has errors, it is important to dispute them as soon as possible to prevent them from doing any further damage to your credit.
How TransUnion Errors Can Cost You:
TransUnion credit report errors can wreak havoc on your credit score. When your credit score goes down, due to TransUnion errors, it could be costing you money.
- Higher insurance premiums
- Higher interest rates
- Loss of promotion or a job
- Denial of a Home Mortgage Loan
- Denial of a Rental Application
- Denial of Credit
In June 2017, Francis Mailman Soumilas, P.C. won a major lawsuit against TransUnion with $60 million on the line. TransUnion violated the Fair Credit Reporting Act when credit checks confused consumers with other individuals found on the United States Treasury Department’s Office of Foreign Assets Control or OFAC’s “blocked list.” The list includes terrorists, arms dealers, narcotics traffickers and other criminals who are prohibited from doing business in the United States. The verdict for this lawsuit is the highest jury verdict in the history of the FCRA, and the class was awarded $60,055,800 in statutory and punitive damages.
The FCRA or Fair Credit Reporting Act also gives you the right to dispute TransUnion errors on your credit report.
If you have tried to dispute their mistakes and they are not correcting them, it is time to get the help of the consumer protection lawyers at Francis Mailman Soumilas, P.C.. You may be entitled to damages for the errors on your credit report.
Fill out our free case review form to get started now.
