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Your Credit Score May Be 100 Points Lower Due To These Errors

Read more at www.forbes.com

You may want to check your credit report right now for these errors.

Here’s what you need to know — and how to increase your credit score.

Credit Score

A new investigation from Consumer Reports show some staggering mistakes on credit reports that could be hurting your credit score. Here are some key highlights:

  • Mistakes in Credit Report: 34% of consumers reported finding at least one mistake in their credit reports.
  • Wrong Personal Information: 29% of consumers found personal information errors in their credit reports such as a wrong name or address, with more than half of those errors being incorrect addresses.
  • Credit Accounts Not Theirs: 11% percent of consumers found account information errors, with the most common being accounts appearing in their credit reports that they did not recognize.
  • Accounts Were Supposed To Be In Forbearance (But Weren’t): 15% of consumers who reported having accounts in forbearance found that one or more of these accounts were not being reported as “current” as required under the CARES Act. For example, student loan payments have been paused, but they are expected to resume again starting October 1, 2021.

Read more at www.forbes.com

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