Corporations May Be Stacking Your Credit Report With False Information

Corporations May Be Stacking Your Credit Report With False Information

In the United States today, your credit report
can mean the world. It can determine whether or not you can get
that new car, whether or not you can buy that house. Heck, it can determine whether or not you
even get a job in some specific instances. And unfortunately, according to a new report
by the FTC, 26% of people in this country have errors in their credit report that they
don’t even know about. Those are blemishes that aren’t supposed to
be there, but they’re there nonetheless harming your credit. Joining me now to talk about this is Scott
Hardy with Top Class Actions and Scott, this kind of seems like a very important thing
that consumers need to be aware of because again, these credit reports are used for everything
today. I mean, they determine whether or not you
can get a cell phone and we’ve got almost a quarter of the population walking around
with these errors that shouldn’t be in there, but they’re in there. Exactly, and now what we have are lawyers
who are aggressively going after the credit unions and aggressively digging in to those
creditors to sue the people involved. Now that’s where we’re seeing this investigation
that was really grown from and, and now it’s, it’s greatly expanded just in the past few
months. Where a lot of law firms now are actively
going after the credit unions and working on the behalf of consumers to fix these problems. Now the, the nice thing is that the attorneys
aren’t just going to try to fix the credit, the, the, the credit reporting problems, but
they’re trying to get financial damages back to each individual person. And as you can tell, as you mentioned, this
things, these credit errors are affecting your ability to buy a car or ability to buy
a house. And in some cases now, just like you said,
ability to get a job where they’re running your credit to see if you’re a good bet for
that company. And if you have those errors, those errors
can completely stop your ability to achieve any of those things. So the attorneys are taking a look at your
credit report. They’re working with you, they’re trying to
get these errors removed and then aggressively pursue financial damages to get some money
back in your pocket for everything that occurred. And we’ve got two companies specifically Equifax
and TransUnion along with Experian, but Equifax and TransUnion have both been accused of,
you know, inaccurately reporting people’s credit reports. You know, oops, maybe we accidentally put
something on there twice. You know, maybe you had a lien against you,
but we actually put it down as you have two liens against you. Maybe we said you got contacted by a, a debt
collection agency, but we actually put that in there a couple times too. So it looks like you have all these outs,
outstanding debts, and those hurt people. I mean, that absolutely changes whether or
not you can buy a home or whether or not you’re going to pay a 2% interest rate on your new
car or a 10% interest rate on that vehicle. I mean, this absolutely screws with people’s
finances because these companies are not doing what they’re supposed to be doing and they’re
not going back and even checking their own work and instead, oh, well, it doesn’t hurt
us as a company. We’re just a monitoring agency. We’re just a reporting agency. You, Mr or Mrs Consumer, you have to go through
and fix this stuff because we’re not going to do it for you. I mean that, that’s the mentality of these
companies. Yeah, you’re, you’re very correct there. It’s anybody who has tried to go and get an
issue with their credit fixed when it was a glaring problem, knows the pain involved. And so for you to have the ability now to
work with an attorney to get that assistance and make it actually happen, this is really
huge for consumers. And so I’d absolutely encourage anybody who
has a lot of problems on their credit and they see these errors on their credit that
need help submit their information and start working with a lawyer now to get it fixed
and hopefully get some cash back in your pocket from these credit unions or credit reporting
agencies. And the, and that’s, you know, kind of rounds
it out, is that people have to understand that you do have to check your credit report. You can’t just hope that everything is okay. You can’t ignore it and pretend like it’s
not a thing that exists and maybe it’ll all work itself out. That doesn’t happen. You know whether you’re in the top 1% you’re
the bottom 99% whoever it is, get your credit report, check it regularly because these mistakes
again, one in four people right now walking around with a mistake on there and most of
them have no idea that it exists. More importantly, they have no idea that they
could work with lawyers and get this fixed. For more information about this investigation
please follow the link in the description of this video. Head on over to Top Class Actions, and while
you’re there, make sure you subscribe to their weekly newsletter. Scott Hardy with Top Class Actions. Always a pleasure talking to you. Thank you. You’re welcome. Thanks for your time, Farron.


36 thoughts on “Corporations May Be Stacking Your Credit Report With False Information”

  • credit report can also determine whether or not you get utilities at your dwelling! AND how big or if there is a deposit required.

  • Jusy wait til the social report starts effecting us. Happening in China as we speak. Say something against the grain you get points off your social report.

  • Spring4030 Zxqa6519 says:

    The credit score system was a betrayal to begin with. Why is it that the more money you borrow the higher the score. Oh, I know, because you pay interest and other fees. If you are a person who uses cash or don't spend money you don't have, than they are going to give you a low score. So what you have to do is fake it and play the score game. Borrow the money but pay it off at the end of the month to avoid the interest, that is what people with money do.
    So this is really a poor people scam.

  • lying individuals who can rip you off today must be watched constantly!! I've had a couple of situations that required help..looking over our backs again

  • Yeah still fighting a med bill that was paid then all of a sudden owed 80$ and received a new bill from them no explanation. They refused to rebill my health insurance. So I'm not paying went on my credit sucks but they can suck it.

  • 348 Loaded Lever says:

    Why can’t you dispute the report, they have so long to show their source for the bad report or remove that from the report. Why you need a lawyer.

  • I have SEVEN different spellings on my name and FIVE different variations on my address due some untrained minimum wage bimbo sitting in an office MIS KEYING INFO INTO THE CREDIT REPORTING SYSTEMS. I have tried REPEATEDLY to get the mis spellings and incorrect punctuation REMOVED to no avail. I am asked REGULARLY why I have SEVEN different "aliases". Once it's entered, THEY WILL NEVER ADMIT TO MAKING AN ERROR SAYING IT WAS PROVIDED BY JOE BLOW'S INQUIRY and therefore is GOSPEL.

  • Your car insurance is also effected by your credit report .The credit report is a scam against people they profit off it. Other countries don't do it but of course its any way they can profit off citizens in the USA

  • Credit report is another tool that criminals (bankers) use to control people, this bankers are just criminals but they demand you to be honest, same history like the government and police

  • They've been doing this for years. Collection agencies are so quick to report any issues….then your bills are sold to a second collection agency who also screws up your credit report. Say, for example, you owe a medical bill and don't pay it for 90 days, they refer this to "ABC Collections" (example). Then, if you still don't pay the bill, "ABC Collections" will sell it to "BBB Collections." And the beat goes on and on.

  • We MUST get rid of the credit system! It's been a complete stain on poor people who are trying to get a job to pay bills they're receiving from debt collectors!

  • Christopher Conkright says:

    I owed a company 45$ lost my job at the time I finally found a job a few months later owed them 3000$ all paper money. 2955 all created profit for that company. I could see 100-150 dollars. That’s not how it works

  • LOL, in Finland the concept of a credit report or a credit score does not exist.

    It's only that you're eligible for credit or not. If you're not eligible for credit, then you must have fucked up pretty badly with your finances, and then you can have a hard time getting loans and basically dealing with things that have to do with money and payments.

    But there's NO fucking credit score that affects your life.

  • Eugene Mulhern says:

    Credit scores should be abolished. They are no more indicative of a person's credit worthiness than IQ test results are indicative of intelligence. There are a million ways your credit score can get fucked up. and there really is no way to appeal or fix it. Do you think most working people with families have the time or the inclination to go line by line through the credit reports put out by not one, but SEVERAL credit reporting agencies? And just in case there are some morons out there who actually DEFEND the credit reporting agencies, let's not forget the case of Equifax, one of the nation's largest credit reporting agencies, which recently experienced a data security breach which allowed hundreds of millions of Americans personal information to be stolen. NOBODY at Equifax went to jail for that, but millions of Americans lives were thrown into turmoil, because it became THEIR responsibility, NOT Equifax's to repair the damage done. I know people who live in ABSOLUTE TERROR at the prospect of even a minor "ding" appearing on their credit reports. This is what happens when your entire life is reduced to a number And this is the way our corporate overlords want it; this is how the serfs are kept in line. They want your money, always, and if they don't get it, they'll give you a bad score and ruin your life forever. Forget about getting a job, or a place to live(I wonder how many homeless people are in that situation because a negative number prevents them from getting a place to live or a job?). People aren't working to provide a better life for themselves and their families; their slaves to the banks, finance companies, and their enforcers in the "credit reporting agencies"

  • Stephen andert says:

    The credit report is a report only , it has really no ability to be an act of God , but most creditor seems to take a a credit report as a final decision.

  • Douglas Langley says:

    Friendly reminder that credit scores are a scam thar serve no purpose other than to fuck with people's livelihoods

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