As too many of us have seen first hand ,it is next to impossible to get your credit report corrected. These reports can ruin lives but the credit bureaus do not seem to care if what they report is correct or not even when proof is sent to them. Hopefully there is help on the way.
The Consumer Financial Bureau just released a bulletin stating that the companies furnishing customer data to credit bureaus have to follow-up on disputes. This means they have to look at information sent to them backing up consumer claims, like proof of accounts having been paid off or that debt was assigned to the wrong person. The system is now working to forward these documents to the furnishers for review.
“Given the importance of these reports, consumers need to know that their documents are being reviewed when they dispute what they believe is a mistake on a report,” CFPB Director Richard Cordray said.
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