False information on Equifax
Question: My husband has been trying to apply for a credit card for a while. We have been out of Canada for the past 5 years and recently returned 2 years ago. When we came back, we paid off his student loan. My husband and his father has the same name. Equifax has a lot of information and credit details that dont belong to my husband but to his father. With this even though all our current payment are always up to date and he is making close to $100,00 a year, no banks will give him a credit card.
How do we fix this problem? Should we go to the bank that gives the false information? I know the last resort maybe getting a lawyer but I want to know of any repairs that we can do without forking out a huge chunk of money since the whole thing is not our fault at all. Thanks
Answer: First, you should contact Equifax. They have a procedure in place to review information for accuracy. If after providing proof to Equifax that your credit report is in error, if they don’t correct it, then yes, consulting a lawyer may be your only option. If Equifax has made an error, it is possible that your lawyer will be able to recover their fees from Equifax for providing knowingly false information.