I applied for an auto loan last week and the report came back saying that I have a credit card out with a $2700 balance. I have only had one credit card in my life; the one I use now which I've never been behind in payments. It's obvious that I've been a victim of credit fraud... what can I do to fix this?? I need it off my report asap...
How can I fix a false credit report?
If you didn't get a copy, ask the auto dealer who told you about that for a copy of the report. Also, since you were denied credit, you are entitled to a free copy of all 3 of your credit reports (Equifax, Experian, Trans Union), so you'll want to get those and see if the bogus charge is reported to all 3 credit agencies.
Your best course of action after reviewing the reports is to write a letter to the agencies disputing the charge, and the reason(s) why. If they can't verify it (and they shouldn't be able to since it's bogus), they have to delete it in accordance with section 611 of the Fair Credit Reporting Act.
Also, if you don't know, ask the auto dealer what your credit scores were (if they pulled them), so you can compare your scores to what they will be once the negative charge is removed from you reports. When your scores go up, you maybe able to get a better interest rate on that car loan you tried to get.
Good luck.
How can I fix a false credit report?
Equifax: 1-877-576-5734; www.equifax.com
Experian: 1-888-397-3742; www.experian.com/fraud
TransUnion: 1-800-680-7289; www.transunion.com
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