Many
people check their credit reports once a year. And many find that there are
errors made and errors that should have been corrected are still visible
Enterprises TV offers some suggestions about how to get mistakes corrected once
and for all.
The
Federal Trade Commission found that one in five consumers had mistakes on their
credit reports. Seventy percent of them found that the mistakes were never
corrected despite requesting it. Most
consumers work hard with the reporting credit agency to correct or remove
errors. And a small percentage of them give up after two years.
Mistakes
can raise interest rates when consumers want to buy a new home or vehicle or
apply for a better credit card. The Enterprises TV show suggests not giving up
on clearing up any errors. Keep backup files and any communication with credit reporting
agencies in order and in a safe place. Double check the reports six months
later. Report continuing problems with the business or merchant that reported
the item to the FTC. The credit reporting agencies have a responsibility to
correct all errors and communicate freely and transparently with every American
consumer. Don’t let them off the hook.
Stay on top of each credit agency until the issue is resolved once and for all.
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