Lawyer Asks: “How Likely Is It To Get A Fraudulent Account Off Of My Credit Report?”

Lawyer Asks:  “How Likely Is It To Get A Fraudulent Account Off Of My Credit Report?”

Lawyer Asks: "How Likely Is It To Get A Fraudulent Account Off Of My Credit Report?"A lawyer who I know asked me this question:

I’ve got a fraudulent account on my credit report.  I’ve heard it is impossible to get these things off but I don’t deal in this area of the law.  So how likely is it to get a false account off of my credit reports?

This is a common question that we get and the answer is “False information will come off — it is just a matter of whether the companies want to do this the easy way or the hard way.”

Here’s the deal on how to solve this

If you have false information on your credit report — and you can show it is false, then it must come off.

Here is the quick process:

  • Pull your credit reports to see exactly what is on there that is false
  • Gather your materials to show it is false
  • Send a dispute letter by certified mail to the credit reporting agencies (Equifax, Experian, and TransUnion) as well as whoever put the false information on there (Capital One, LVNV, etc)
  • Wait 30 days or less to get your “results of investigation” from the credit reporting agencies

There are two possibilities on what will be shown in the results of investigation

  1. The false information is removed, or
  2. The false information remains on your credit report

If the false information is removed — great!  That is the easy solution.  Do pull your credit reports at least once a year to make sure it does not “re-appear” on your reports.

But what if the false information stays on your reports?

You now have two options.

  • Dispute it again in writing and also consider calling the companies (document the calls very carefully), or
  • Sue in federal court the credit reporting agencies who kept the false information as well as any responsible company — you sue under the Fair Credit Reporting Act

After you sue, the companies who have false reported will generally give you three things

  1. Delete or correct the false information
  2. Pay you money damages
  3. Pay your lawyer fees for you

What if the companies won’t settle?

Then you push the case to trial and ask a jury to give you substantial money damages and attorney fees.  This normally does not happen as if you can show the information is false, there is not much of a defense for companies you have sued.

Even through there arrogance they can see the “handwriting on the wall” which tells them what is heading their way like a freight train.

What if I have questions about my credit reports or how to show the information is false?

If you live in Alabama, give us a call at 205-879-2447 to speak to one of our assistants or paralegals or if you prefer you can fill out our contact form and we can call or email you back.  We look forward to helping you.

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