Credit Score Magic

According to the reports of the new study that was released today by the Policy and Economic Research Council (PERC), consumers can now rest easy and they need not be too concerned if there is a possibility of errors occurring in their credit reports, which could be negatively affecting their creditworthiness.

The PERC research is a statistically sound and comprehensive study that is performed under rigorous peer review. The accuracy of the data that has been collected and maintained by the three major credit reporting agencies – Equifax, TransUnion, and Experian, and the impact of the outcome of the credit report disputes, has been studied in great detail. M

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Here’s an interesting number: Almost 80% of credit reports have mistakes on them. Checking your credit report every year will help you make sure that your credit is mistake free. I use to not check my report because I just assumed that it would be right. We all know what happens when you assume.  Needless to say, I could not have been more wrong.

Curiosity Helped This Cat

When I heard about AnnualCreditReport.com a few years back I decided to get my credit report just to be curious. AnnualCreditReport.com is a site set up by the three major credit reporting agencies. It’s a place to get a free credit report from each of those agencies once a year, no strings attached.

I went to that site and found that it was really simple to use. I just picked my state and then it brought me to a page to fill out all of my information. I did have to give my social which made me a little wary, but I did some research and found that it was a secure site which made me relax.  After I filled it out, I selected that I wanted my report from all three agencies. It’s re

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There are just some times when you find a few errors in your credit report, and these kinds of mistakes could often cost you a loan you want to get or a job you want to have. If you find these kinds of faults in your financial document, then you need to fix them as soon as possible because doing so is a long and tedious process.

A credit report is more than just a financial document. Whatever is listed in it (a complete list of your payment history, balances and accounts) would be used to determine whether or not you would be credit worthy enough to get a loan, rent some living space, or even earn a job. That is why it is important to sort out the errors before they cause any more harm and damage to your financial situation.

A White House blog written by Treasury Assistant Secretary Michael Barr had confirmed that over an estimated 150, 000 credit users have made complaints that they have found false information in their credit reports.

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The information on a consumer’s credit report carries more importance and weight than most people take for granted, because whatever it is listed on the report would be used to affect the credit user’s financial situation. That is why legislators have added a new measure into the Financial Reform Bill to reduce errors on credit reports and further benefit their consumers.

Michael Barr, Treasury Assistant Secretary, wrote a While House blog that revealed that consumers have filed an estimated 150, 000 complaints about finding false information on their credit reports over the past few years. Barr pointed out that there are also an additional estimated 6 million Americans who found mistakes and errors on their credit reports that are enough to deny them credit.

Credit reports are more than just a simply rundown of a consumer’s payment history, accounts, balance, and payment behaviour in each category. This

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Consumers should be aware of mistakes in their credit Report. This was pointed out by Linda Sherry, National priorities Director of Consumer Action. Beware! Once somebody you do not know calls to inquire on someone’s debts, your address, correct spelling of your name or any information about you, this could enter on your Credit Report. Unsolicited incoming calls are usually the start of alterations in your Credit Report.

This, after many victims complained of overdue debts, rented apartment which they do not have any knowledge of, unpaid bills and services which were never delivered and many other changes which affected their financial status.

Survey shows that up to now, there have been a surging number of complaints over negative information found in their credit report. Just like what happened to Bruce A. Summerfield of Blackwood, N.J, where he was surprised to find out in 2007, he had not paid $1,075 he owed to AT&T as reported by Equifax. T

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No one knows what goes on the minds of lenders and credit card report viewers when they look through the data in the credit reports. Credit card holders maybe biting their nails as their future lenders are skimming through the details. Others would ignore the situation thinking that they have been doing good credit management and there’s nothing to be afraid of.

Well, certainly, there is something to be afraid of. Credit reports viewer has their own agenda and criteria in evaluating a card holder’s credit background. The details included in the reports are their guideline in achieving a decision that will benefit them.

Hard inquiries or those that appear every time the cardholder makes an application for credit appear in credit reports. If the cardholder has multiple hard inquiries in his report, the lenders might think that the cardholder is deep financial problem and may be categorized as a high risk customer. The

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