In the News 05/26/2015

In a recent case against three major credit reporting agencies, one Ohio woman may have changed the landscape for the thousands of consumers who are unable to correct problems with their credit reports each year.

For 12 years, Julie A. Sagstetter endured calls, letters and posted notices from collectors and the sheriff’s department for failing to pay her bills. However, the collectors had her confused with another woman, Julie V. Sagstetter. Although Julie A. consistently tried correcting the information, the agencies refused to admit their mistake and continued harassing her.

Julie A. finally contacted Ohio Attorney General Mike DeWine in a desperate attempt for help. DeWine launched a case against Experian, Equifax and TransUnion that led to a settlement that will hopefully change this type of behavior. A total of 31 states have announced a crackdown on some of the nation’s largest credit-reporting agencies this past week.

The agreement requires the agencies to launch investigations when consumers report mistakes and keep a list of credit companies that regularly provide inaccurate information on credit reports, among other things.

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