Credit Report Errors jeopardize employment, housing and loans
by Anonymous
Bismarck, ND September 8, 2004 -- Thousands of unsuspecting consumers discover they have a low credit score due to errors on their credit report usually when there's a denial of credit, get turned down for a job, or are victims of higher insurance premiums.
"Most people are aware of the need to raise their credit score but they have no idea how to go about it." explained Gene Fisher, credit repair consultant. Fisher's web site www.2005credit.com provides a free special report on knowing your credit score and how to impove it , which is also available by calling 1-800-809-5769.
With over 75 percent of all credit reports containing some sort of error, the vast majority of consumers have been or will be affected by a problem with inaccurate credit history. Fisher assists people through the process of getting the credit report repaired prior to applying for a loan, new mortgage, new job, or insurance which saves time, an lot of money, and embarrassment," said Fisher. Fisher is the owner of Fisher Equities and is affiliated with Eagle Literacy Group Credit Educational services as an Independent Representative. Eagle Literacy Group offers consumers a Credit Educational Service that includes a 12-month clean credit checkup through the 3 major credit bureaus, Experion, Equifax and Trans Union.
Studies have shown that over 75 percent of all credit reports contain mistakes of some kind, with at least 25 percent of credit reports containing errors so severe that it would cause a loan or mortgage application to be denied, according to a report by Eagle.
Errors on credit reports may cause a variance of 50 points or more in credit scores, the number used to determine credit worthiness, which places place at least 8 million Americans at risk of misplacement into the sub-prime lending pool. Examples in erroneous credit reporting, inaccurate listings, missing satisfied loans or Mortgages, duplicate Mortgage entries and pertinent information misconstrued through data entry. The three major credit reporting bureaus routinely sell credit reports to landlords, employers and insurance companies. Insurance rates are subject to adjustment based on lower credit scores. Your credit score has an affect on your ability to gain proper employment, housing, as well as leasing of various kinds. A 2 percent error on a $100,000 mortgage equates to over $40,000 in over-payments.
The Fair Credit Reporting Act guarantees the right of the consumer to dispute any inaccurate and erroneous or obsolete information that may appear on your credit report. Fisher assists the consumers through the professional services of the Eagle Literacy Group, as well as to earn additional income as an affiliate independent marketing representative.
This article courtesy of http://www.badcreditautoloansfinder.com.
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