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.
Wall Street Reform Bill: Free credit report for rejected renters
The Dodd-Frank financial regulatory reform bill which passed through Congress and is headed for President Obama’s desk, contains a provision which will require that rejected renters be provided with a free copy of their credit report.
The Wall Street Journal reports that there is a provision in the bill that “would give prospective renters access to a free copy of the credit score that a landlord or broker used to evaluate their application.”
The article quotes a source as saying “that by forcing landlords to give out these credit scores, they would be deterred from using discriminatory factors like race or age in their decisions of whether or not to rent to particular applicants.”
Click here to read the entire article.
Visit our Landlord-Tenant category to learn more about Landlord-Tenant issues.
As always, The Long Island Landlord-Tenant Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 217 Willis Avenue in Mineola, NY 11501. Contact us at (516) 858-2620 to arrange a consultation with a Landlord-Tenant attorney.
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