Buying a Home Foreclosures News: Call 3: Do You have Credit Report Errors?

TheKCRAChannel.com - Station - Call 3: Do You have Credit Report Errors?: "SACRAMENTO, Calif. -- In a study involving the three big credit reporting agencies, less than 1 percent of the 111,000 reports had errors causing a consumer to be denied credit. But the California Public Interest Research Group says its survey of 200 consumers found one in four had serious errors.

The errors were serious enough that people lost their loans or mortgages, or had to pay a higher interest rate on their new cars, according to CalPIRG.
The three reporting agencies -- Equifax, Experian and Transunion -- update 4.5 billion credit files a month. They say they have a low tolerance for errors but aren't error free.
'They have a huge amount of data to process on a daily basis. I don't deny that,' said credit consultant Jay Broderick. "
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