What is Avantus?
Credit reporting agencies have become an integral part of the financial ecosystem in today’s economy. They offer credit reporting services for financial institutions and offer general background checks that expose any criminal or fraud charges against an individual.
Avantus is one such credit reporting agency. Avantus focuses primarily on credit reporting services and tools for the mortgage and lending industries. This industry always needs access to high-quality credit reports so that they can gauge the risk of applicants.
The process of manually verifying the information provided by a candidate can be arduous, and Avantus offers cost-effective, highly efficient reports to streamline this process. In doing so, Avantus allows its clients to achieve their goals faster while staying within compliance guidelines.
Errors on the Avantus Background Check
While the process is welcome by mortgage lenders and lending institutes, it can have serious implications for individuals such as you. From a mortgage agency’s perspective, there is little to no need to question the accuracy of the background check reports compiled by Avantus.
The streamlining they receive as a direct result of these reports means that they have very little interest in verifying the information. Furthermore, if the need for verification did arise, it would defeat the whole purpose of outsourcing the job to a third-party service like Avantus.
Mistakes by screening services are not uncommon. A lot of reports are compiled using data from various sources. The accuracy of all data sources cannot always be verified. This isn’t necessarily a mistake from Avantus, yet it can have far-reaching consequences for you. For instance:
- You may be rejected for a job
- You may not receive a promotion at your current job
- You may face fraud charges
- You may be unable to secure a home loan
- You may be subjected to higher mortgage payments
- You may have to pay higher insurance premiums
- You may be unable to rent out certain properties
As you can see, these mistakes can affect your personal and professional life. You’re not without legal recourse, of course. All credit reporting agencies have to be FCRA compliant. The FCRA states that you must provide written consent before any background check.
You are also entitled to receive a copy of your credit report. If there is a mistake on your report, you can alert the reporting agency, and they must fix it within 30 days. If the mistake isn’t fixed within this time, you have grounds for legal action.
You can protect yourself and make the best case possible by recruiting the help of experts. Here at Consumer Attorneys, we specialize in such issues. Don’t take our word for it, though! Sign up for a free case review and let us show you.
Avantus Contact Information
Address: 70 Jefferson Blvd, 4th Floor
Warwick, Rhode Island 02888
Phone Number: 800-243-0120
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