Background checks and screening services make life easier for companies because they offer a speedy and cost-effective way to reduce their liabilities and make confident decisions about extending credit to consumers. The retail industry has a different way of carrying out a background check: Retail-specific credit reporting companies collect information on customers who regularly return items to stores. These companies then use these return histories to detect fraudulent activities in the system.
The most common retail-specific credit reporting companies are:
- CardService International Inc.
- First Data
- The Retail Equation
Customers who return goods way more often than others are likely to commit fraud, and merchants understandably want to crack down on such activities. However, if you have been unfairly reported by the retail-specific credit reporting company, you have the right to dispute. The amount of raw data simplified when compiling these reports is high, thus the chances of numerous inaccuracies.
These inaccuracies can majorly impact your life by damaging your reputation, keeping you from getting a job, getting you blacklisted from retail outlets, exposing you to legal charges, putting your chances of getting a promotion in jeopardy, etc. If a company has refused to give you a loan based on a mix of profiles, you can request them to correct the error(s) immediately.
Personal and professional consequences due to an unfavorable background check report are not set in stone. You have options under the Fair Credit Reporting Act (FCRA) that guarantee you a copy of your credit report, and if you find the information to be incorrect, you can tell these retail-specific credit reporting companies to fix it within 30 days; otherwise, you have the right to file a lawsuit against them. You have the right to receive notification if an individual or company has used a credit or consumer report against you. Under the Fair Credit Reporting Act (FCRA) you must consent to any background check being conducted against you.
Errors on credit reports aren’t easy to remove; for that, you need Consumer Attorneys. Contact us at +1 877-615-1725 for immediate assistance, or you can request a free case review on our website.