Do You Check for Mistakes on Your Credit Report?
Last Week Consumer Reports published an article titled: "More Than a Third of Volunteers in a Consumer Reports Study Found Errors in Their Credit Reports"
Financial experts recommend that consumers frequently monitor their credit reports at AnnualCreditReport.com. Credit reports from Equifax, Experian, and TransUnion are usually available for free once a year. However, the three firms are offering free weekly credit reports through April 20, 2022.
Consumers should contact the reporting firms directly if they find any mistakes in their credit report. The Federal Trade Commission provides a sample letter you and your clients can send to credit bureaus to dispute errors.
Syed Ejaz, a Consumer Reports policy analyst, says "Unfortunately, folks sometimes find out about errors way too late—when they are in the middle of getting a loan for a new house or car." "That is why it is really important to make sure you check your credit report and assess it for accuracy" Ejaz said.
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