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Mistakes On Your Credit Report - 79% Of The Time!

According to "Mistakes Do Happen: A Look at Errors in Consumer Credit Reports " a recent report by public issues watchdog U.S.Public Interest Research Group (USPRIG.) There is a one in four chance your credit report contains an error serious enough to cause you to be denied credit. 79 percent of credit reports examined in a recent survey contained either serious errors or mistakes of some kind.

54 percent of the credit reports contained personal demographic identifying information that was misspelled, long outdated, belonged to a stranger or was other wise incorrect.

According to Ed Mierzwinski, USPRIG Consumer Program Director, "It is outrageous that inaccurate credit reports could damage one-in-four consumers’s ability to buy a home, rent an apartment, obtain credit, open a bank account, or even get a job."

Posted by Steve Baker - AFinancialPro.com on 07/17/2008 12:55 PM

Comments (6)

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6 Comments on Mistakes On Your Credit Report - 79% Of The Time!

JUL

2008

It's intimidating to think that there could be errors on a credit report 79% of the time! Thanks for the heads-up.

I did not know it was 79%, where did you get the data that stated 79% of the time credit reports are innaccurate???? I know when I quote percentages I usually like to post where the info is coming from.

tom

Hi Thomas,

I did list the source. Those numbers came directly from the USPRIG report. There is even a link to a copy of the report.

Thanks for sharing the info and putting the link to back it up. So many people quote numbers but never give the source which makes the numbers meaningless.

John Thomas - Certified Mortgage Planner