How do family members affect what’s in your credit report?

It’s not unusual to have errors in your credit report. While these issues are certainly frustrating, they can be fixed if you report them to the credit bureaus. However, you may not realize that your Minnesota family members can actually impact what’s in your credit report and may be responsible for errors present in them.

What happens when credit report errors are caused by a family member?

The credit system isn’t perfect. Although it seems unusual, it’s possible for a person to be confused with a family member when applying for a credit card. Oddly, a background check might even come back listing a close member of your family, such as your sibling, as you. The end result can be that you both have issues with your credit or at least in being approved for a new credit card. This is indicative of the credit system having major issues in correcting what should be simple errors.

Per the Fair Credit Reporting Act, you are entitled to report any and all errors you find in your credit report to the credit bureaus. However, there are multiple credit bureaus, with the three major ones being Equifax, Experian and TransUnion. Each company may have something different appearing in your credit report, so it can be challenging to know which one is the one making the error. It’s not surprising that there can be mistakes when there is so much data being collected on every adult in the country every single day.

Errors on your credit report can affect you when a bureau confuses you with a family member. You are entitled to obtain your free credit report once per year. It’s wise to get hold of it and examine it for errors. Thanks to the Fair Credit Reporting Act, you have the right to report an error and request that it be fixed or removed from your credit report. In addition to being confused with a family member, people can even be declared dead by a credit agency, which can be even messier.

What can you do if you have this problem?

An attorney can help you if you’re being confused with a family member on your credit report. An attorney can ensure that the mistakes made by the credit agencies don’t permanently adversely affect your life, ability to get a new credit card, housing, or a job.