What Happens in a Credit Report Dispute?
What you need to know about fixing errors on your credit report
Access to credit is controlled by gatekeepers. These gatekeepers are the credit reporting agencies. The agencies collect information on consumer financial behavior (past access to credit, delinquent accounts, account balances, outstanding debt, payment history, etc.) and then generate a credit score. This number impacts your ability to get a mortgage, rent an apartment, or buy a car. It is sometimes used in insurance decisions, too.
The point: In order to function in the financial marketplace, you depend on an accurate report from credit agencies. Keep in mind, though, that you are not their customer. These groups get paid by credit issuing companies and collect data from those same companies. The creditors are the customers.
In Case of Error?
What happens, then, when there is an error on your credit report and it is hurting your overall credit picture?
