How to Report Unfair Credit Card and Loan Practices

Whether you want to obtain a car loan or a home loan in South Dakota or Minnesota, you know that your credit needs to be in decent shape. However, due to some unfair credit card practices, your scores and report are suffering. How can you report these practices and pave the way for a better credit situation?

Find Proof of Unfair Practices

In order for someone to hear your complaint, you are going to need to put together proof. For example, perhaps your credit report has been showing that you owe a large sum of money on a particular loan when you actually paid it off close to a decade ago. Hold onto that report. If you do not have evidence with you, then reporting the unfair practices is going to be rather difficult.

Start Small

unfair credit and loan practicesBefore you try to contact a lawyer, you should see if a simpler resolution exists to the problem. For example, you might contact:

  • The credit card company
  • The loan provider
  • One of the three credit reporting agencies

The problem might have happened on a smaller level. When this is the case, you should start with the entity that is making the error. The company or agency might be willing to fix it. If the entity is not, you should make it known that you will be taking this case to another level to ensure that it is properly resolved.

Where to Go

Now, if you are unable to resolve the problem by yourself, where exactly should you go for assistance? You could contact the Federal Deposit Insurance Corporation to get some assistance and ideas for continuing down this path. The Federal Credit Bureau is absolutely another possibility that you might want to look into.

As you are exploring your options, start to speak with a lawyer who specializes in these types of problems. You absolutely want to gather more information and start to learn all that you can about the different ways you can successfully resolve your problem. After all, you do not want to have to get a bad credit car loan.

Reporting unfair credit card practices can take a little bit of time. However, the results will be worth it in the end when you finally have those unfair marks removed from your credit report.

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