More Important Than You Think

One of the key components of credit repair is cleaning up the errors that are too often found on credit reports. The people who compile these reports are only human, and there are a lot of transactions to keep track of. Therefore it should be no surprise if there are occasions when the wrong information gets recorded in the wrong file. You work too hard to maintain your credit without being penalized for financial sins you have never committed in the first place! The only way to prevent this injustice happening to you is to proofread your reports regularly in order to be sure that all the information is accurate and up to date.

In recent years the Federation of State Public Interest Research Groups (PIRGs) have conducted and published a series of reports on the accuracy of credit reports. Amazingly, they discovered that approximately seventy percent of all of the credit reports investigated had mistakes on them. They also placed these mistakes into categories that were based on the seriousness of the errors. These categories ranged from minor errors of little consequence to those capable of causing serious damage to the person's credit rating. Nearly a third of the errors fell into this most serious category.

It is important not to underestimate the possible significance of these errors. Besides the obvious possibility of being denied credit entirely, there is the chance that you may be offered credit but at a much higher interest rate than if the mistake had not been made. In total the credit bureaus maintain files on over 200 million Americans. If just half of all reports have errors in them that result in financial loss, that would mean 100 million victims, each of whom would benefit from some form of credit repair. Are you sure you are not one of them?

A credit repair professional will proof read your credit report looking for much more than the obvious derogatory information. Credit damaging errors often bring to light hard-to-spot compliance issues that the average person may miss. Underreported account limits, duplicate accounts, accounts with balances that are actually paid off, collections that have been sold to other collectors, are all compliance issues that may be made to work in your favor. Remember, these errors all translate into real money. And it's not just anybody's money. It's your money.