Credit Repair and Credit Repairing Process Works – Los Angeles, Seattle, Portland
Fix My Credit- Los Angeles CA, Seattle WA, Portland OR
A mistake in your credit report can have serious consequences. It can hurt your ability to get a credit card, qualify for a loan, rent an apartment, adversely affect your insurance rates or even be hired for a job.
When is the last time you had a professional review your credit files and review your credit worthiness? Do you even know if there are errors in your reports that are costing you points and lower your credit scores? Have you ever found an error in your credit reports and want it repaired quickly? Maybe you tried to fix your credit and nothing happened. What can you do then? One option is to complain to the Consumer Financial Protection Bureau (CFPB).
However, there are thousands of people who were not satisfied when they contacted the credit bureaus or the Consumer Financial Protection Bureau as well. These are the same people who are forced to keep calling and writing to the bureaus in hopes of getting their problems resolved.
We at Credit Team USA have found that the big three credit reporting agencies (Equifax, Experian and TransUnion) vary dramatically on how the deal with complaints and challenges to their reported information.
Here are some of the key findings:
1). Number one common problem is approximately (70%) of complaints are based upon incorrect and falsely reported adverse information being reported on credit reports.
2). Experian had the most complaints followed by Equifax and TransUnion.
3). Consumers did not always agree with the company’s response. In fact, they disputed it about 18 percent of the time.
How big is the reported error rate?
It’s hard to get the real number on this, just know it’s extremely high.
We found an article showing a report released earlier this year; the Federal Trade Commission said twenty and up to seventy percent of U.S. consumers had an error on at least one of their three credit reports. It was also found there were a lot of errors serious enough that they could result in higher payments for various financial products such as auto loans, insurance, mortgage loans or just flat out being denied for requested loan products.
Who’s to blame for these mistakes? The credit reporting industry says in nearly 9 out of 10 cases, the inaccurate information was based on a reporting error from the customer’s lender. In other words, it’s called the blame game and it can be very difficult to get changes made.
If you’ve contacted a credit bureau about a mistake and did not get the issue resolved, please contact us at Credit Team USA and we can discuss what can be done to help with your Credit Repair and Credit Repairing process.
For more Information on obtaining help Fixing Your Credit contact us at:
Credit Team USA Toll Free: (888)990-9978