How Did the Wrong Account Get on Your Credit Report?
Sometimes a human error is to blame for the wrong accounts showing up on your credit report. Someone may have transposed the numbers in your Social Security number, or there may be someone with a similar name whose credit profile got mixed up with yours. Other times, these accounts are the result of fraud or identity theft; someone may have intentionally opened a credit card account in your name. That is especially likely if there are multiple accounts on your credit report that don’t belong to you.
How to Remove False Accounts
Fortunately, there’s a fairly straightforward process for clearing your credit report of accounts that aren’t yours. Sometimes the process works the first time, but in other cases, you may have to repeat or take another course of action to clean up your credit report completely. You can keep a close eye on your credit with a credit monitoring service so you can spot any errors sooner rather than later.
What to Do if the Account Isn’t Removed
If your dispute is unsuccessful, it’s likely because the business confirmed to the credit bureau that the account does belong to you. Working with the business to prove that the account is fraudulent is the best next step. Speak with a manager, a supervisor, or even a vice president or president at the company, providing evidence that the account does not belong to you. Complaining to the Consumer Financial Protection Bureau (CFPB) may help you get the account marked as fraudulent and removed from your credit report. While the CFPB won’t force a company to take any action in your favor, having a government agency involved may inspire the credit bureau and the company that furnished the information to take a closer look at your account. Companies with a history of complaints can face penalties from the CFPB. You have the right to sue a credit bureau that doesn’t remove a fraudulent account from your credit report after you’ve proven that it’s not yours. That is why it’s important to keep copies of all your correspondence with the credit bureau. If nothing else works, contact a consumer rights attorney who practices in your state to discuss suing the credit bureau for damages under the Fair Credit Reporting Act.
