Article: Credit Reports ? Fixing Errors Can Be Difficult
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Credit Reports ? Fixing Errors Can Be Difficult
Most Americans are aware that any time they try to borrow money, the lender consults with a credit report outlining the borrower?s credit history. These reports are prepared by the major credit bureaus ? Experian, Equifax and Trans Union, and the reports, along with the accompanying credit score, contain a distillation of the borrower?s entire financial history. Armed with that information, the lender can make a decision as to whether granting a loan or credit would be wise. What many Americans don?t know is that most credit reports contain errors. Worse, it can take months or even years to correct those problems. In the meantime, the errors may prevent the borrower from obtaining a loan or credit.
A recent study shows that nearly four out of five credit reports contain erro...
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