Have You Found Errors on your Credit Report?

If there are mistakes in your credit reports, it can be costly. Is it really too much to expect that credit bureaus get your information correct?

 

An eye-opening investigation by The Columbus Dispatch, “credit scars”, looked over nearly 30,000 consumer complaints filed with state and federal agencies about the three big credit bureaus. There were complaints from having wrong names to erroneous past-due accounts.

 

It was said that nearly 200 people told FTC that they were listed as deceased in their credit reports, cutting off their ability to access credit. More than half of the people who filed complaints with the FTC were not able to persuade the three major credit-reporting agencies to fix the problems.

 

A story from New York Times mentions a woman who was denied employment and credit because her filing was mixed up with someone that is a felon who had the same name and birthday.

 

It’s been decided that there will be new rules coming, and many consumers support more regulation of the financial institutions that have more power over us. I recent poll discovered that 66% of voters overall and 69% of independents think the CFPB is needed.