As a consumer, you have rights under the law when it comes to errors on your credit report. A 2004 study conducted by the National Association of State Public Interest Research Groups found that nearly 80 percent of all credit reports have mistakes. Although the majority of errors are minor, if a credit bureau or the original creditor finds that information on your credit report is inaccurate, it must be corrected or removed.
According to a 2005 "USA Today" article, 79 percent of credit reports contain errors and 25 percent of those are bad enough to keep individuals from getting credit. Therefore, you should do what you can to check and correct any...
It's not at all uncommon to discover errors in your credit report, but fixing those errors can seem daunting. The process doesn't have to be a challenge, however. The Fair Credit Reporting Act (FCRA) spells out guidelines for c...
Credit.com warns that credit report errors can run the gamut from late payments to foreclosure, repossessions and charge-offs. You may discover them in a variety of ways. You may apply for a car loan or credit card and have you...
This is due to problems that commonly occur on your credit report because of clerical error or identity theft. In 2005, 1.6 million households had errors on their credit report due to identity theft alone, according to the U.S....
Before applying for a large loan for a home or car, it's wise to obtain your information from the three major credit reporting bureaus (Equifax, Experian and TransUnion) and address any credit report errors beforehand to reduce...
If you spot an error on your credit report, you'll want to take action immediately to correct the mistake. According to the Fair Credit Reporting Act, you can request a free copy of your credit report every 12 months.
Each year, you are entitled under the Fair Credit Reporting Act to receive a free copy of your credit report. Your credit report contains the balanced owed on loans and lines of credit, your payment history, judgments and any l...
