Are There Errors on Your Credit Report?

Don’t be surprised if your credit report looks less than accurate. Both Forbes and CNBC have reported that approximately 1 in 3 people have errors on their reports.

Your credit report is supposed to be 100% accurate, not 99% accurate.

If you happen to have a collection or charge-off that has been sold, then you have the right to demand verification. Many times, collection accounts are sold to outside collection companies — sometimes over and over again. With each transfer, there is an open door for more errors to occur.

What started out as a $75 missed payment at Walmart might have been turned into a $300 collection with ShadyCollectionsRUs thousands of miles away. Try doing a Google search on the collection company adding the word “complaints.” You might be surprised what you discover!

Common Errors on Accounts

  • The balance is wrong.
  • The date of last payment is wrong.
  • Other date on the account is wrong.
  • The account number is wrong.
  • The account number is partially missing.
  • Your name is misspelled.

If the account is derogatory, do not help your Accuser by providing information to update and correct the account. Instead, demand deletion on the legal basis that the account is in error. Period.

Horrifyingly, I had a person email me asking if she should pay a $2,000 charge-off that did not even belong to her! She wondered if that would be the best way to handle it. NO!

Fortunately, she followed my advice and got the account deleted instead.

Check your credit report for accuracy. Correct, repair, restore your good credit and your good name. To learn how the professional credit repair specialists and credit attorneys repair credit, see here.

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2 thoughts on “Are There Errors on Your Credit Report?

  1. l have a questions about experian and their address id #’s as long as the id# on a bad account matches the id on a positive account that is how they will verify my account is correct and verified how do I fight this I would like to be a home owner one day that is my current dilemma now

    1. Brian, I appreciate you reading my blog post about credit report errors. I have no information about your personal credit report, who the creditors are, the dates, the type of accounts, the overall picture of your credit profile, or anything else, so it is impossible for me to comment specifically. I can only say that the best and surest way to remove negative credit is to provide documentation to the credit bureaus along with your letter, or to have the creditor themselves direct the correction to the credit bureaus. Your loan officer who has seen your credit report can give you more specific direction. I wish you all the best.

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