lionhunter

40 Million Mistakes - Is your credit report accurate?

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I think that is a very conservative number.

 

5 years ago when I originated mortgages.  Read  65% of the credit reports in America had errors, enough to disqualify somebody for new credit.

 

Disputing credit back then was also like clock work, today trying to fix credit is like throwing at a dart board hoping to hit yellow or black. :dunno2:

 

My $00.02

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One of the best ways to ensure your credit report is accurate is to order credit reports on a regular basis. This allows you to scour the report for inaccuracies, and then take the steps to have the information removed. The process entails asking the credit bureaus to verify the information, and when that cannot be done, asking for it to be removed. If you find inaccuracies that are caused due to your identity, potentially, being stolen, you will need to contact local authorities along with the credit bureaus to have the information investigated and corrected.

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Here's some more food for thought.

 

There are about 200 million Americans who use credit or have an "active" file.

 

The bureaus report that they maintain more than 450 million credit files.

 

Merged files, duplicates, old files on the dead etc...

 

 

Of course, the fact that the reports are less than perfect help in terms of removing information so all hail the mighty bureaus.

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