Is Your Credit History Really About You?

If you are like most people, the only time you think about your credit score is when you want to get a loan. But your credit score, which is determined by the information contained in your credit report, can affect other things as well. Things like how much you pay for auto or homeowners insurance, your ability to get a credit card or consumer loan, the interest rate on such a card or loan, and even how prospective employers view your job application. Increasingly, it seems your credit score defines who you are to the business and corporate world.

A  recent study by the Federal Trade Commission (http://abcnews.go.com/Business/federal-trade-commission-percent-consumers-credit-reporterrors/story?id=18464929) showed that a surprising number of people have false or misleading information in their credit report that can lower their credit score by as much as twenty-five points! Correcting errors such as these could easily result in savings of hundreds, or even thousands of dollars. This is especially true when debt collectors and debt buyers sell debt discharged in bankruptcy to secondary debt buyers.

The process of having corrections made can sometimes be confusing, time-consuming, and frustrating. Here at Rex Anderson P.C., we have extensive experience in dealing with the credit reporting agencies. Let us help you make sure that your credit report reflects a true and accurate picture of who you are. Give us a call at 810-653-3300.

Collaborative Writing by Rex C. Anderson, Esquire and Contributing Research/Writing by Glenn D. Smith

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