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Errors on Credit Report Costing Consumers Billions Per Year
April 24th, 2009
Over 100 million Americans are overpaying on their loans because of errors on their credit report. Worst of all, these errors are fixable and consumers don't even realize it. Eighty percent of Americans have an error on their credit report. Twenty-five percent of those errors are so bad that if the consumer applied for credit today, they would be turned down (2004 U.S. Public Interest Research Group Study, http://tinyurl.com/d2w5un). This is costing America billions of dollars per year and it is completely fixable! Forty-six percent of Americans are missing at least one credit limit on their credit report (2004 Federal Reserve Board Study,...
Source: Health Business Week (2009-04-24)
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