Better Alternatives to Buying Credit Monitoring

Better Alternatives to Buying Credit Monitoring The credit agencies are eager to sell you credit monitoring at about $20/month. Here are reasons not to buy it. It doesn’t prevent ID theft, it only tells you after the theft has been committed – the proverbial shutting the barn door after the horse has run away. If you are really threatened with identity theft, you can put a security freeze on your credit files that actually prevents the ID theft by locking out access from the credit reports. Credit monitoring is not a good value proposition. You can check your credit report...

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Channel 7 Interview with Mixed File Victim

Channel 7 Interview with Mixed File Victim Last night, Michael Finney of Channel 7 in San Francisco interviewed our client Lisa Allen about her experience with the credit reporting agencies. When Lisa was just a child, the Social Security Administration mistakenly gave her social security number to the guardian of a another Lisa Allen who lived in another state. The mistake occurred because their names were the same and their birthdays were only ten days apart. As the two Lisas went through their teen years, Experian, Equifax and Trans Union mixed their credit files meaning the other Lisa’s credit files...

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Experian Wrongly Says Brooklyn Doctor Owes $22M

Experian Wrongly Says Brooklyn Doctor Owes $22M A Brooklyn doctor has sued Experian saying it mixed his credit files with fraudsters. Experian is reporting he owes $22 million on accounts that do not belong to him. The New York Post is reporting on the case. Experian says he has 47 mortgages, but they are from borrowers with different names and social security numbers. Plaintiff is Dr. Joseph Cannavo. His credit files are linked to those of José Cannahui and Joseph Canty. Incredibly, Experian refused to correct the doctor’s credit report. Trans Union and Equifax are not reporting any of the...

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Oregon Jury Awards Consumer over $18 million in Mixed File Case

Oregon Jury Awards Consumer over $18 million in Mixed File Case Mixed files cases are ones in which the credit bureau intertwines the credit files of one person with another. When this happens, the bureau has no one to blame except itself. Last week, an Oregon jury awarded Julie Miller $180,000 in actual damages and $18.4 million in punitive damages against Equifax. The Oregonian story is here. Ms Miller contacted Equifax eight times between 2009 and 2011 in an effort to correct inaccuracies, including erroneous accounts and collection attempts, as well as a wrong Social Security number and birthday. Yet...

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Consumers Who Filed for Bankruptcy Get Help with Old Debts on their Credit Reports

A recent court order in a class action will help millions of consumers who filed bankruptcy but have been plagued with old debts showing up on their credit reports. The old debts, which are typically forgiven by the courts in a bankruptcy filing, are still being reported as active on many consumers’ credit reports. As reported in the Wall Street Journal, Experian and TransUnion say they have already updated their credit files to be compliant with the court order. TransUnion also sent notices to some customers saying they “may experience a slight change” to their credit scores if any of...

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