Your Credit Score could be Wrong

  • Posted on: 9 December 2015
  • By: admin

Your Credit Score could be Wrong

According to a report from the Federal Trade Commission (FTC), 20% of Americans have errors on their credit report. You can read about it at http://www.foxbusiness.com/personal-finance/2013/02/12/ftc-1-in-5-have-credit-report-errors-do/

 

Why You Should Care

I saw this story on 60 Minutes on Sunday and I had to pass it along. Most of us work hard to keep our credit clean so we can take advantage of lower interest rates on loans for which we are approved. But 20% of Americans actually have errors on their credit report, errors that have been made by the reporting agencies themselves. From erroneous late payments, to closed accounts still listed as open, to someone else’s bad debt showing up on your credit report, these errors can be costly. Make sure you check your credit report regularly and report any errors immediately. Who knows, it could be the difference in you securing your dream home.