Your credit rating is an important element in your finances. If you want to buy or rent a home, lease a car, or obtain a loan or credit card, your credit rating is one of the primary factors a lender considers. Inaccurate information on your credit report could hurt your chances of getting a loan or credit card and result in you paying a higher interest rate.
Experian, one of the leading credit reporting agencies, has been accused of inaccurate reporting. Recently, the U.S. District Court for the Eastern District of Virginia approved a nationwide Settlement related to claims that it included inaccurate tax liens or civil judgments on its credit reports and failed to disclose its public record information vendor.
Experian is providing free credit monitoring for two years and established Mediation and Arbitration Programs for consumers who were injured by a credit report containing an inaccurate civil judgment or tax lien. If consumers were harmed by the inaccurate report, they may be able to mediate claims for money through these programs. Payment is not guaranteed. Affected consumers can participate now, and the Mediation and Arbitration Programs and free credit monitoring are available until August 22, 2020.