Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
Credit > Credit Reports |
One in Four Credit Reports Contain Errors A study conducted in early 2004 by a major consumer group has found that one in four credit reports, or 25 percent, contain serious errors on them, serious enough to result in a consumer being denied credit and paying a significantly higher interest rate on credit cards, auto and mortgage loans, insurance rates, or being denied housing or a job. In addition, more than 90 percent of credit reports evaluated in the study contained accounts that did not belong to that particular person, and many of these accounts were listed as delinquent, which would seriously impact that person's credit score. The consumer group studied 200 credit reports of people living in 30 states. They found that 80 percent of the credit reports contained at least one error and 55 percent of the reports had the person's name or other personal information such as address, social security number, etc., incorrectly listed. Thirty percent of the reports showed open credit accounts that had been closed by the consumer. How do the three big credit reporting agencies get away with it? Lax oversight by the Federal Trade Commission, the federal agency in charge of regulating and punishing the three major credit reporting agencies. Check your credit report on file with all three credit reporting agencies -- Equifax, Experian and Trans Union -- for errors on an annual basis by obtaining a free credit report online. Get rid of mistakes and errors on your credit report with our credit kit, which includes 28 sample letters and the loopholes that enable one to get true, but negative information removed from a credit report. |
Credit > Credit Reports |
Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
