How To Find Out If A Collection Is Reporting in Violation Of The FCRA

Not sure if that collection on your credit report is accurate? We can help.

Unfortunately, credit reports are littered with inaccuracies, leading to lower credit scores and decreased purchasing power. As a consumer, the burden is on you to identify and resolve inaccurate or unverifiable accounts on your credit report, leading many to wonder how to even identify when an account is reporting in violation of the FCRA.

What to watch for:

Inaccurate Data:

  • If any of the information on an account (balances, dates, creditor info, etc.) is inaccurate, you have the right to challenge that information with the credit bureaus to have it updated or potentially removed from the credit report.

Unverifiable Accounts:

  • If you believe an account is not yours, you have to right to request validation of the debt. If an account is unverifiable, it must be removed from the credit report entirely.

Outdated Accounts:

  • Different account types are subject to different rules regarding their statute of limitations. Generally, if you see a derogatory account on your credit report with the Date of Last Activity older than 7 years, it’s time to take action to remove that account from your credit report.

Misleading Accounts:

  • Have an open credit card reporting as a collection? What about a student loan reporting as an auto loan? Misleading accounts are common, and require you to take action to get them updated and fixed to ensure an accurate credit profile.

Remember, per the FCRA, you have the right to a FAIR and ACCURATE credit profile. If you find accounts that are inaccurate, unverifiable, misleading, or outdated, it may be time to take action to resolve or remove those accounts.

Learn more about Premier Credit’s responsible credit repair option and start your journey towards healthy credit.

Alex Grimnes