It is no secret that Credit Reports are riddled with erroneous information. A study conducted in 2014 from a US Public Interest Research Group revealed that nearly 80% of all consumer credit reports contain errors! A staggering number when you consider just how important a credit report is in many aspects of your life. Employers are turning down potential job applicants due to credit issues, banks are declining folks for loans, automotive lenders are charging extremely high interest rates based on the information on your credit report. The Fair Credit Reporting Act is very specific when it comes to the criteria that must be met by creditors who are reporting information to the credit bureaus, if the item doesn’t meet this criteria then the item can be DELETED from the credit report. Here are a few other eye-opening figures.
- 90% of all Bankruptcies report inaccurately, hindering a person’s ability to re-establish credit effectively.
- 60% of all collections are reporting erroneously, and can thus be REMOVED from a credit report.
- 30% of ALL accounts on credit reports are reporting inaccurately.
- Most people don’t monitor their credit and don’t find out about inaccuracies until they are declined by a lender because of them!
Every credit report and situation is different, and will require a different strategy to get inaccuracies removed from their report. I work with several great companies the specialize in helping our clients clean up issues quickly and effectively. Feel free to contact me for a referral.
Matt Brady
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New American Funding
Quail Gardens Corporate Center
662 Encinitas Blvd, Suite 201
Encinitas, CA 92024
and
9191 Towne Centre Drive #340
San Diego, CA 92122Cell: 858-342-8659
Direct: 858 304-1205
Fax: 760-683-6991
Email: matt.brady@nafinc.com
Web: www.newamericanfunding.com
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