Watch this eye-opening special from 60 Minutes about how the people you speak to or write to at Equifax, TransUnion and Experian have no authority to change any error on your credit report.
Ignore the annoying commercial breaks. It’s worth it.
40 Million Mistakes: Is your credit report accurate? — 60 Minutes
How is this legal?
Well, it isn’t. That’s why lawsuits are being filed to correct even the most obvious of credit errors.
We’ve had a couple of personal experiences with something like this, which makes me believe that these errors are about as common as 60 Minutes has reported here. Thankfully we haven’t had to endure the horror stories that some of the people interviewed had.
Have you had an error on your credit report that adversely affected your ability to finance your home, take advantage of better interest rates, or other? Was it ever fixed?