| May 29, 2013

One-in-four consumers encounter credit discrepancies

A person’s credit standing is a very important part of their money management. It helps determine everything from interest rates on lines of credit to eligibility for certain types of loans.

A large part of understanding and managing credit is ordering copies of credit reports and ensuring everything is as it should be. Unfortunately, nearly a quarter of Americans claim they have encountered issues with their credit report at one time or another, according to a survey conducted by FindLaw.com.

“It’s important to check your credit report periodically to ensure the information it contains about you is accurate and up to,” Findlaw.com attorney and editor Stephanie Rahlfs said. “The credit reporting agencies all have detailed procedures for correcting errors. And our survey found that people are generally having success in getting the agencies to correct those errors.”

Where do the discrepancies lie?
According to the survey, the majority of issues are the result of outdated and incorrect information that is unfairly listed on a consumer’s credit report. This includes markings that can easier to overlook, such as errant, delinquent payments, as well as much larger issues, such as inaccurate bankruptcy filings and false criminal records.

A wide range of information is drawn from many different sources to determine a credit score, and unfortunately, this makes it easy for pertinent information to slip between the cracks, Rahlfs continued.

Keys to staying on top of credit
Although working with a credit counselor is an informed way to handle any issues with your credit, there are more conventional alternatives.

To start, consumers should regularly order copies of their credit reports from the major credit reporting bureaus: Experian, Equifax and TransUnion. Under federal law consumers are entitled to one free copy from each of these companies every year. However, if they want to receive a copy more often, they will probably have to pay a fee.

Once this documents in receive, it’s important to scan the information for any errant markings that could be unfairly lowering the overall score. If any are located, bringing it up with the credit reporting bureau as well as the lender in question is the next most logical step.

These issues can take some time to resolve, so it’s important to take can of any problems sooner rather than later so a credit score can return to where it deserves to be, further ensuring financial and budgeting success.  

 

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation