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Cardoza Law Corporation

The Real Cost of Credit Reporting Errors

Michael F. Cardoza, Esq.
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U.S. Marine & Consumer Financial Protection Attorney dedicated to fighting debt and credit bureau harassment.
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Unless you were hiding under a rock in 2017, you probably heard about the major Equifax data breach that exposed the personal financial information of 143 million consumers. Mike Cardoza Law Credit Reporting Errors Can Cost You a Great Deal of MoneyYou may have even taken steps, like freezing credit and changing passwords, in response to the news. However, what you may not realize is that you are under a greater threat from the credit reporting agencies every day that rarely gets covered in the news and may be costing you thousands of dollars. What is the threat? Errors—even small ones—on your credit report.

One in Five of You Has a Significant Error on Your Report Right Now

According to a Federal Trade Commission report, as many as 20 percent of Americans have a “potentially material error” on at least one of their credit reports that makes them look riskier to lenders than they actually are. Companies look at your credit score and the history on your credit report to assess how much of a risk they are taking by lending to you, insuring you, and even hiring you. When a decision-maker sees you as a risk, you may suffer the following consequences:

  • Higher credit card interest rates
  • Higher home and car insurance premiums
  • Higher home mortgage interest rates
  • Higher private student loan interest rates
  • Denial of loan and credit offers
  • Loss of a career opportunity

Why are there so many errors on credit reports? Mostly because it’s not worth the credit reporting agencies’ time to make sure their reports are accurate. Ultimately, it’s up to you to check your reports often and take measures to correct errors. But you don’t have to do it alone!

I Can Help You Clear Up Your Credit Report Errors

I can make those credit reporting errors go away and possibly get you compensation, all without costing you any money up front! Contact me online or call my office directly at 855.982.2400 to get your FREE case evaluation. You'll be surprised at how quickly the threat of a lawsuit will get the attention of these companies. Protect yourself from these costly errors by taking action today!

 

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