Don't assume that your credit report is accurate. In 2004, a study by the United States Public Interest Research Group found errors on nearly eighty percent of the credit reports studied. Eighty percent.

Incorrect credit information can have serious negative consquences for you, resulting in higher credit card rates, inability to obtain credit, loss of job opportunities, and increased difficulties in renting a house or apartment. Credit reporting agencies and their corporate clients are not the least bit interested in deleting false derrogatory information on your credit report -- you have to force them to do it. After all, credit reporting agencies are not neutral information providers; in fact, credit reporting agencies' biggest clients are banks and other financial institutions that benefit from your negative credit reports (for example you pay higher interest on your loans and credit cards if you have negative information on your credit report)

There are many common scenarios that result in the eighty-percent rate of erroneous credit reports. Your credit report may be littered with the allegations of debt buyers who claim to own old debts when in actuality they have no evidence upon which to base their claims of ownership. These allegations on your credit report serve the interests of the credit reporting agencies' debt-buyer clients, but it does not mean the reports are true. If a stranger reports that he or she now owns a debt that you thought you owed to someone else, why should you take their word for it unless they provide you with proof? Old information that should have fallen off your credit report long ago is often re-aged. A debt that has been sold from one entity to another may be reported several times -- appearing to be several different debts.

You can and should challenge dubious and incorrect information on your credit report. You can only protect yourself from being victimized by such false credit information, by obtaining your report and challenging the credit reporting agencies and the reporting parties concerning dubious and incorrect information that you find -- and sometimes by suing them to enforce your rights if they do not respond properly. Although it is possible to take on the credit reporting agencies and their clients by yourself, attorney assistance in this process can be economical and invaluable. The Law Office of Ian Chowdhury expertly advocates for consumers who want to challenge the erroneous, negative items that often appear on their credit reports.

Contact the Law Office of Ian Chowdhury for details.