May 05 2015 Woman to Receive $18.6 Million From Credit Bureau
A poor credit rating may impact your life and reputation in many ways including your job opportunities and your ability to obtain credit.
As a result of litigation, a jury has ordered Equifax to pay the largest financial settlement ever, $18.6 Million to a consumer as the result of dispute over false information attached to her Social Security number.
Details: After she was denied credit by a number of banks, Julie Miller, of Oregon discovered that her Equifax credit report contained false information. In an attempt to correct the false information on her account, Ms. Miller repeatedly contacted the company during a period of two years. Equifax explained that her account had been accidentally combined with another social security number.
It was determined that Equifax failed to protect the individual’s personal information, considered a breach of privacy, which in turn damaged her reputation and affected her ability to obtain credit.
It is important to examine your own reports on a regular basis as even established Credit Bureau Companies may report mistaken or false information on an individual.
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