Credit reports could be wrong

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WASHINGTON, D.C. – If you’ve hit up a Free-Credit-Report type service recently and didn’t see the numbers you were hoping for, don’t be bummed. You might not be the source of your credit problems, according to the Federal Trade Commission.

This new ‘report on reports’ says as many as 42-million Americans have errors on their credit report, 20-million of those qualifying as “significant mistakes”, that end up keeping folks from getting the mortgages and car loans their little heart’s desire.

Before you give up on the American dream of spending borrowed money for the things you want and need, the Consumer Data Industry Association is saying the FTC’s not giving credit where credit’s due. They say 98% of credit reports are right on the money, so to speak.

To be sure, you should check your credit reports from all three credit bureaus (Transunion, Experian, & Equifax).