Credit Reports

An FTC study on the accuracy of credit reports conducted from 2012 to 2015 concluded that an estimated 40 million of more than 200 million consumers in the United States likely had errors in their credit reports maintained by the CRAs.

Credit report errors include credit card debt and loan debt incurred by criminals, not you.  This erroneous, negative information ruins your credit score, resulting in higher interest rates on new loans, or even declined loan applications.

By law, you are entitled to one free annual credit report from each of the CRAs.  You also are entitled to demand that the errors be fixed.  In March 2015, the CRAs reached a settlement with the New York Attorney General to improve credit report accuracy and increase the fairness and efficacy of the procedures for resolving consumer disputes of credit report errors.  Two months later, the CRAs reached a similar settlement with 31 other States Attorney General.

You must order your free annual credit reports from the official FTC-approved website annualcreditreport.com.