MIXED CREDIT FILE

If you notice information on your credit report that does not belong to you, you may have a mixed credit file.

A mixed credit file is a type of inaccuracy in credit files that can occur when credit bureaus blend the account information of one consumer with the account information of another. As defined by the Consumer Financial Protection Bureau, it is the “Inclusion of accounts or records in a credit file that does not belong to the consumer.” You may find accounts like student loans, credit card loans, auto loans, debt collection, or others that you don’t recognize and that are not yours in your credit report. Although credit bureaus generally maintain separate credit files for each consumer, sometimes account or personal information which belongs to another is added to the wrong credit file. Given the volume of information that credit bureaus manage, errors are inevitable.

Having inaccurate information listed in your credit report that actually belongs to another consumer can affect your credit score in a negative way. For instance, another person’s default payments and delinquent accounts can damage your payment history. Or, if they are using their credit cards to the maximum limit and it is appearing on your report, their credit utilization rate could rise and affect the score that is listed on your credit report. With a lower score, receiving approval for a loan or credit can be challenging. Even if you are approved, you will probably have higher interest rates. If you think you might have a mixed credit file, it is imperative that you take action right away because it can damage your credit score. Providing inaccurate information in credit reports is a serious violation of the Fair Credit Reporting Act. Therefore, credit bureaus are under an obligation to investigate disputed information upon consumers’ request.

HOW TO FIX A MIXED CREDIT FILE?

Contact the Credit Bureau:

If you have a mixed credit file, you can file a dispute with the credit bureau and report the issue to them. Under FCRA, they are obligated to solve all inaccuracies.

Contact the Creditor:

Additionally, you can talk to the creditor to confirm the information he gave to the bureau. You can also get information removed from your credit report.

If you are facing a mixed credit file issue, you must talk to a professional. Our law firm excels in assisting consumers with credit report errors. Our office has helped clients get false information removed from their credit reports and get their entitled compensation under the FCRA.