I have long known that over 70% of credit reports
contain significant errors. Here is an article that presents
the study and its findings proving me to have been correct.
U.S.PIRG.

Please allow me to summarize the findings.
The big three credit reporting agencies, collect and
report information on 90% of all american adults.
They are Equifax, Experian and Trans Union. Those files
are often sold to landlords, lenders, employers, credit grantors
and collectors often without your permission.

Their have been several studies which prove
that their is a high error rate in the data contained
in your credit report. Enough errors to cause you
to be declined for credit, a job, or a loan, or pay
a higher rate than you ordinarily would have.

The study cited in this article asked adults in
30 states to complete a survey on their reports accuracy.

Here are the survey results as reported in the article:

- Twenty-five percent (25%) of the credit reports surveyed
contained serious errors that could result in the denial of credit,
such as false delinquencies or accounts that did not belong to the
consumer;

- Fifty-four percent (54%) of the credit reports contained
personal demographic information that was misspelled, long-outdated,
belonged to a stranger, or was otherwise incorrect;

- Twenty-two percent (22%) of the credit reports listed
the same mortgage or loan twice;

- Almost eight percent (8%) of the credit reports were
missing major credit, loan, mortgage, or other consumer accounts
that demonstrate the creditworthiness of the consumer;

- Thirty percent (30%) of the credit reports contained credit
accounts that had been closed by the consumer but remained listed
as open;

- Altogether, 79% of the credit reports surveyed contained
either serious errors or other mistakes of some kind.

OK, so the next time someone tells you that
credit restoration companies are a scamsend them
a copy of this article, and tell them to think again.

Their is always so much negative misleading
propaganda put out in the general media about credit
counseling, especially for profits and credit restoration
companies that it is high time someone challenged them
to prove their claims. The fact is, unless a company
is just fraudulent from the get go, they cannot prove their
negative talk. It is the banks and non-profits who
are controlled by the banks, coupled with the credit
reporting, or should I say debt reporting companies
that have a sweet deal going enslaving consumers with
this brainwashing fixation on credit report scores
and borrowing.

If you find an error on your credit report
and need help or even free advice on how to remove it,
by all means contact us by visiting:
American Debt Enders.

Also, if you enjoyed this article and learned
something you did not already know, when you visit
our site, click on the link to subscribe to our FREE,
Credit Counseling Newsletter for more great
unbiased and accurate information to keep you
out of debt slavery.

Writteb By
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
887-766-2465