Is your credit report telling the truth about you? There is a very good chance that
it does not. More than 100 million Americans have a credit profile with the three
main credit bureaus and statistics show that upwards of 80% of those credit profiles
contain some type of potentially serious error. About 77 million Americans have a
debt in collections.
Statistics show that the type of errors consumers may find may result in credit
-25$ of credit report errors may be serious enough to result in you being denied
-54% of credit reports contain inaccurate demographic and identifying information
-30% of credit reports contain inaccurate reporting information on credit accounts
that have been closed by the consumer but are still reporting as open
-22% of credit reports list the same account more than one time
-8% of credit reports don’t list major credit, loan or mortgage accounts that could be
used to show the credit worthiness of a consumer
It is also important to understand that there may be a variance in your score from
one bureau to another and the information contained on one credit report may not
be found on another.
An inaccurate credit report can cost you the consumer. Check your credit report
at least once a year for mistakes, inaccuracies, misinformation and other errors in
reporting and protecting your credit rating.