Credit Scams: Part 1 – Credit Reports
This is part one of a two part guest post from Debt Lead, who has a debt consolidation website by Kimberly Credit Counseling.
Newspapers, radio, TV and the Internet are filled with advertisements that offer to erase accurate negative information in your credit file. The credit repair scam artists who run these ads can’t deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit history record. Part 1 is to help you understand credit reports so you can be an informed consumer, while part 2 looks at credit repair scams.
Credit Reports
Does your credit report accurately represent you? A recent study conducted by the Public Interest Research Group (PIRG) found over 70% of credit reports contain errors. Among the principal findings of the report were the following:
Twenty-nine percent (29%) of the credit reports contained serious errors that could result in the denial of credit.”
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Original post by MoneyNing