Patrick Munce, “the Dr. Credit”, national speaker, issues new 2006 credit report findings that 25-30% of Credit Reports have Major Errors.
National Real Estate Network LLC #1 Ranked Credit Seminar
(EMAILWIRE.COM, January 17, 2006 ) Livonia, MI -- Patrick Munce, “the Dr. Credit”, national speaker, is one six renouned real estate experts attending January 19, 2006 mega evening event for new investors. Patrick Munce is also one of feature speaker January 28, 2006 all day seminar on lease options combine with credit restoration. Details on seminars are on www.megaeveningevent.com
Some informed consumers already know credit files are full of mistakes, but most people are clueless about credit. So, Patrick Munce, the well known national speaker known as “The Dr. Credit” has released new 2006 report statistics for all the major credit agencies and their clients:
• 25% of credit files contain serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer.
• 54% contain personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect.
• 22% list the same mortgage or loan twice.
• Almost 8% are missing major credit, loan, mortgage or other consumer accounts that demonstrate the creditworthiness of the consumer.
• 30% contain credit accounts that had been closed b y the consumer but remained listed as open.
• Altogether, 79% contain either serious errors or other mistakes of some kind.
the Consumer Data Industry Association defended the major repositories by pointing out, “We do have 4.5 billion updates to file information a month, and that comes from 30,000 data furnishers. I’d have to be naive to tell you there couldn’t possibly be so many errors in that many credit reports.”
What they didn’t say is since most consumers only see their credit reports once every 10 years – perhaps-- and that serious errors often infuse with each repository or bureau update cycle. Recently, the Federal Trade Commission (FTC) blanketed repository fines to Equifax, Trans Union and Experian with a total of $2.5 million fine because they blocked “several million of calls from consumers who needed to discuss their entire file contents and open correction for the many possible errors in their credit reports.”
Every month the repositories get over 1.5 million requests to change credit files, and most help comes from result of a consumers relationship such as with “credit climber”, a suite of credit restoration and score improvement opportunities, and “credit restoration rescore” services, known as the fastest way to a cleaner credit file and that all important higher FICO score using all the help that can be found at WWW.THEDRCREDIT.COM.
Contact:
National Real Estate Network, LLC
Mark Maupin
Tel: 734-402-0180
Some informed consumers already know credit files are full of mistakes, but most people are clueless about credit. So, Patrick Munce, the well known national speaker known as “The Dr. Credit” has released new 2006 report statistics for all the major credit agencies and their clients:
• 25% of credit files contain serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer.
• 54% contain personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect.
• 22% list the same mortgage or loan twice.
• Almost 8% are missing major credit, loan, mortgage or other consumer accounts that demonstrate the creditworthiness of the consumer.
• 30% contain credit accounts that had been closed b y the consumer but remained listed as open.
• Altogether, 79% contain either serious errors or other mistakes of some kind.
the Consumer Data Industry Association defended the major repositories by pointing out, “We do have 4.5 billion updates to file information a month, and that comes from 30,000 data furnishers. I’d have to be naive to tell you there couldn’t possibly be so many errors in that many credit reports.”
What they didn’t say is since most consumers only see their credit reports once every 10 years – perhaps-- and that serious errors often infuse with each repository or bureau update cycle. Recently, the Federal Trade Commission (FTC) blanketed repository fines to Equifax, Trans Union and Experian with a total of $2.5 million fine because they blocked “several million of calls from consumers who needed to discuss their entire file contents and open correction for the many possible errors in their credit reports.”
Every month the repositories get over 1.5 million requests to change credit files, and most help comes from result of a consumers relationship such as with “credit climber”, a suite of credit restoration and score improvement opportunities, and “credit restoration rescore” services, known as the fastest way to a cleaner credit file and that all important higher FICO score using all the help that can be found at WWW.THEDRCREDIT.COM.
Contact:
National Real Estate Network, LLC
Mark Maupin
Tel: 734-402-0180
Contact Information:
National Real Estate Network, LLC
Mark Maupin
Tel:
Email us
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National Real Estate Network, LLC
Mark Maupin
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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