Everywhere you look, you can see advertisements and articles discussing the importance of that famous three digit number…the credit score. What does your credit report say about you?
Credit scores affect every aspect of our financial lives – qualification for loans, the interest rates we pay, employment opportunities, and even insurance premiums. A consumer’s credit score has become one of the single most important criteria reviewed and considered by lenders and employers in today’s credit-driven society. The information that the credit bureaus reports about you impact almost every part of your financial life.
If it’s so important, it must be accurate, right? Not exactly.
Does your Credit Report Tell the Truth about You?
Probably not. Credit scores are based upon information reported on a consumer’s credit profile. The 3 main credit bureaus maintain credit profiles on more than 100 million Americans. Unfortunately, some studies show that approximately 1 out of every 4 credit profiles contain potentially serious errors.
A study run by Consumer Reports in June 2021 uncovered some troubling findings:
- 34% of credit reports in the study contain some type of error
- 29% found errors related to their personal information
- 41% found an unrecognized account associated with their report
- 23% found a payment wrongly reported as late
- 11% found account information errors
- 10% of consumers found it difficult to access their credit scores
These errors are needlessly costing consumers billions of dollars. How much does inefficient and inaccurate reporting cost you?
Not Happy About What You See On Your Credit Report?
You’re not alone. Unfortunately, few consumers fully understand what constitutes a correctable error on a credit profile. Many are busy with everyday life – raising a family, working, etc. and just don’t have the time to devote to researching their credit rights. As a result, few consumers actually dispute their credit profiles effectively… and that’s exactly what the bureaus want.
Identity theft further complicates the matter. Millions of Americans suffer from credit profiles corrupted by improper and unauthorized use of their credit information. All told, consumers are stuck with the daunting task of navigating legal frameworks while attempting to communicate with unresponsive credit bureaus.
This unbalanced playing field creates only one major loser – the American consumer.
Here’s some good news: you’re not required to wade through the mud alone; credit counseling is available, and you can put the experience of the experts to work for you.
At InCreditable Advisors, We Employ the Most Effective Approach to Credit Repair
We are here to help you achieve an awesome credit profile. We work vigorously to resolve issues on your credit reports. We work on items that should be deleted or removed, items that should be updated, and items that should be re-characterized. We’ve studied credit reporting, the credit bureaus and creditor reporting methods to maximize the results we can obtain for you. Our experience works to your benefit!
Contact InCreditable Advisors today to learn more on how YOU can have the great credit you deserve! We’d love to sit down with you for a consultation and create a roadmap to better credit.
