Finally, Credit Reporting Bureaus Agree to Address Errors!

Discussion in 'General Discussion | Credit Cards' started by Kalboz, Mar 12, 2015.  |  Print Topic

  1. Kalboz
    Original Member

    Kalboz Gold Member

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    Yay, credit reporting bureaus agree to long-overdue reforms to address errors, medical debts :) No more of the 7-years of negative medical charge back - once the debt is paid, the derogatory info will be removed! http://consumersunion.org/news/cu-c...rdue-reforms-to-address-errors-medical-debts/
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  2. NYCUA1K

    NYCUA1K Gold Member

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    They actually had no choice in the matter. The new Consumer Financial Protection Bureau (CFPB) now demands that every disputed credit report entry be addressed and resolved within 30 days. The same goes for all other financial entities, like banks. I challenged disparities in my credit records among the three main credit bureaus and they were quickly reconciled. As a result, not only did my credit score increase, the three credit bureaus now report credit scores that are within single digits from each other!
     
    Last edited: Mar 13, 2015
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  3. satman40

    satman40 Gold Member

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    The real problem credit scores have nothing to do with credit lines.

    A 3 year old could have a good credit score, and be approved if they did not check the age..

    This has happened.

    I have seen high income and high net worth clients with low credit scores due to disputes pending, not late payments. Medical is a good example.
     
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