Many consumers have been denied credit or overcharged excessive interest rates because of inaccurate entries on their credit reports. If you have been denied credit based on a credit report, you have a right to demand a free copy of the credit report used by the potential creditor as long as you make your request within 60 days of the denial. You can then check the accuracy of the report based on your own records or recollection.
Many, many credit reports contain inaccurate information, some of which will result in a denial of credit or an offer of excessive interest rates.
There is a federal law called the Fair Credit Reporting Act (FCRA) which gives rights to people when they dispute credit report information with a creditor. The creditor is required to have reasonable written procedures for handling disputes and then inform people about the outcome of their disputes. If they fail to do either of these things, within 30 days, they have violated your rights and you may have legal remedies against them.
If you are having creditor or credit report disputes of any kind which you cannot resolve yourself, you can draw upon the services of the John Suda Law Firm and I will advise you how to handle an inaccurate credit report, illegal creditor practices, or other credit-related issues.