(PRWEB) 5 September 2012
Nearly 90 percent of American consumers have found erroneous or inaccurate information on your credit report, according to a recent survey by the website Consumer Credit Counseling America. Of more than 150 respondents 22 percent have found errors in reporting collections, penalties and late fees over seven years, while nearly 15 percent found inaccuracies in its personally identifiable information such as name and address. This study comes in the wake of a recent announcement made by the Office of Consumer Financial Protection that as of this month, thirty to verify the country?s top credit bureaus
the frequency of errors for information is so high, the CFPB program comes at a critical time for consumers, said Steve Trumble, president and CEO of Newton-based American Consumer Credit Counseling. It is important that consumers understand that a credit report can affect your ability to get loans, buy a house and even get an education. This study suggests that consumers should not only check your credit report twice a year, but should expect to find at least one bug report.
However, collections, penalties and late payments are not the only mistakes that consumers are finding. The survey also found that 19 percent of respondents had incorrect data account, while 15 percent identified accounts and delinquencies in its report that were not even his. Only 13 percent said they did not find any errors in your credit report.
113,000,000 credit card and retail card accounts, auto loans, personal loans, mortgages and home equity loans originated in the U.S. in 2011, most were approved and price using information provided by agencies to consumer. /
Clearly, consumer reporting agencies have a drastic effect on almost all Americans, Trumble said. In today?s economy, where creditors have more stringent requirements, its special importance for consumers to help them report is accurate.
For over twenty years, American Consumer Credit Counseling has been working to educate consumers about how to obtain and read a credit report and what are the common mistakes that should be considered.
credit reporting errors poll was the latest in a series of surveys ACCC website for the year 2012 that will focus on a variety of financial education, budgeting and planning issues. American Consumer Credit Counseling certificate and experienced counselors offer a variety of financial education, counseling and debt management services to help consumers achieve long-term financial health and stability.
ACCC
is a 501 (c) 3 organization that offers free credit counseling, bankruptcy counseling and housing counseling to consumers across the country in need of financial education and money management. For more information, please contact ACCC:
?? For credit counseling, call 800-769-3571
?? For bankruptcy advice. Call 866-826-6924
?? For housing counseling, call 866-826-7180
?? For more information on financial education workshops in New England, call 800-769-3571 x19 0
?? Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a non-profit 501 (c) (3) organization dedicated to empowering consumers to achieve financial health through education, counseling and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers? financial difficulties are often not the result of bad habits, but more frequently from extenuating circumstances beyond their control. As one of the nations leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. ACCC is accredited by the Better Business Bureau and has an A + rating. A member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources log on or visit ConsumerCredit.com TalkingCentsBlog.com.
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