Credit Report Errors

On February 19, 2013, in Bankruptcy, Debt settlement, by Robbie L. Vaughn, Esq.

Credit Report Errors

Do you have errors on your credit report?

A new study done by the Federal Trade Commission on the United States credit reporting industry revealed that 5% of consumers had incorrect credit reports from three major credit reporting agencies. These mistakes could lead to consumers paying more for products such as auto loans and insurance. It was shown that one in four consumers had errors on their credit report that could affect their credit scores. One in five consumers had an error that was fixed by a credit reporting agency after it was disputed. The study found one consumer had a maximum credit score change of more than 100 points after reviewing mistakes made.

In light of this study, consumers should access their credit report and ensure that their spending and payment history is accurate. Consumers can check their credit for free without affecting their score at annualcreditreport.com.

You should also read our earlier post: How to  raise your credit score for free!

Attorneys in Mineola

Call the Law Firm of Vaughn, Weber & Prakope, PLLC, at 516-858-2620, if you would like us to assist you with disputing items on your credit report or taking action against any of the credit bureaus.

Comments are closed.



The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. This website is Attorney Advertising. It does not form an attorney-client relationship. We are a debt relief agency and a law firm that helps people file for bankruptcy relief under the U.S. Bankruptcy Code – Title 11. Prior results do not guarantee a similar outcome. Proudly assisting residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, Manhattan