Credit Report Errors

This term refers to inaccuracies in the form of outright errors or missing information that can be found on consumer credit reports. Some studies have shown that up to one third of all consumer credit reports contain one or more errors.

Because the credit report influences so many aspect of ordinary life, it is imperative to make sure that credit reports are accurate. Most financial experts advise the regular review of current credit reports, to ensure that there are no errors or even fraud, such as identity theft. All of the major credit reporting agencies provide easily accessible credit reports online. If an error is found, the consumer must contact the credit reporting agency in writing and supply supporting documentation concerning the error.

The credit reporting agency is obligated by law to investigate the matter fully, generally within 30 days of receiving the complaint and documentation from the consumer.