The ways to fix errors in your credit report, why some people add a consumer statement to their report. Credit report and errors in credit reports: Information compiled by a credit bureau from merchant’s, utility companies, banks, court records and creditors about payment history of a customer is known as credit report, it is very useful in getting future credits from banks or any other financial source. Because of the credit bureaus all gather information from essentially the same sources, there may be as situation where error in one information may lead to error in credit report. The Fair Credit Reporting Act (FCRA) allows to challenge the error in credit reports, as the law requires that reports contain accurate information.

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Chapter 6.3, Problem 5CC

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To determine: The ways to fix errors in your credit report, why some people add a consumer statement to their report.

Credit report and errors in credit reports:Information compiled by a credit bureau from merchant’s, utility companies, banks, court records and creditors about payment history of a customer is known as credit report, it is very useful in getting future credits from banks or any other financial source. Because of the credit bureaus all gather information from essentially the same sources, there may be as situation where error in one information may lead to error in credit report. The Fair Credit Reporting Act (FCRA) allows to challenge the error in credit reports, as the law requires that reports contain accurate information.

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