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CREDIT FACTOR CORP. FINDS 70% OF CREDIT REPORTS CONTAIN ERRORS
NEW YORK, NY - Feb. 27, 2003 /Send2Press Newswire/ -- Credit Factor Corporation is a
leading directory of credit report providers and the largest resource about
credit management for consumers. Recent studies conducted by the Public Interest
Research Group found over 70% of credit reports contain errors.
Incorrect information in your credit file makes your credit score lower. As the
result you get a higher APR when you: take a loan, open a new credit card
account, lease a car or every time when you take credit.
29% of the credit reports contained even more serious errors that could result
in the denial of credit. "Serious" errors included false delinquencies, public
records or judgments that belonged to a stranger, or credit accounts that did
not belong to the consumer. If your identity has been stolen and somebody has
taken credit on your name you may get huge financial problems. It is much easier
to investigate such kind of situation before it is reported to a collection
agency. After it is reported to a collection agency and an accordant record
appears in your credit file, you may be denied credit at all.
The solution is to take a look at your credit report and become sure that your
credit situation is under control.
Once you receive a copy of your credit report, review it carefully for
inaccuracies and incorrect information. Under federal law, you have the right to
have any incomplete or inaccurate information corrected by a credit bureau at no
charge. To see sample go to http://www.credit-factor.com/FactDetails.aspx?id=296
A good credit history is a very important aspect of financial health. It enables
you to get the credit you need fast and at the best possible interest rates.
Obtaining a good interest rate can save you a lot of money when shopping for a
car, home, small business or other major purchase.
Credit Factor Corporation, a fast growing credit reports and all credit related
information provider, presents a new Credit Report Directory with a huge
database of facts. There can be found all the facts you will need to manage your
credit easier. The directory contains information on identity theft, credit
reports, credit score, credit bureaus and saving tips. For more information
please visit: http://www.credit-factor.com
Source of news:
Credit Factor Corporation
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