Credit Report Wrongly Says Man Is Convicted Felon, Forces Him To Prove Innocence

Credit Report Wrongly Says Man Is Convicted Felon, Forces Him To Prove Innocence

How do you prove you didn’t commit a crime if your accuser won’t tell you which crime you’ve been accused of committing? That’s the problem facing a New Jersey who has spent months trying to convince a shady credit reporting company that he is not the criminal that is showing up in their records. [More]

Man Tries To Buy House, Finds Out He’s Dead & Married To A Woman He Never Met

Man Tries To Buy House, Finds Out He’s Dead & Married To A Woman He Never Met

We always recommend that you take advantage of your right to check your three credit reports once a year just because you never know what you might find. Like the California man who learned from Equifax that he’s been dead for a few years and also that he had a widow living 20 miles away. [More]


Companies That Furnish Info For Credit Reports Are Obligated To Investigate Disputes

More than 1-in-4 credit reports contain some sort of error, according to a recent Federal Trade Commission report, but one can’t lay all the blame at the feet of the three major credit bureaus — Experian, TransUnion, Equifax — as the companies that supply this information are not always fulfilling their legal obligation to investigate disputes by consumers. [More]

(Alec Peden)

Jury Awards Woman $18.6 Million In Battle With Equifax Over Credit Report Errors

There’s major consumer victory news from Oregon: a woman who discovered huge errors in her Equifax credit report and couldn’t get them fixed was awarded a total of $18.6 million in damages. She contacted Equifax eight times about the errors between 2009 and 2011, but they remained on her report. [More]

(me and the sysop)

Young Adults Not Eager To Take On Piles Of Credit Card Debt For Some Reason

Everyone has that one relative who was an adult during the Great Depression and hid boxes of cash all over the house because they didn’t trust banks. Someday, your own descendants might share tales of weird old Aunt Mykayla, who entered the workforce during the Great Recession and refused to get credit cards or even buy a car. [More]

(Pimento of Doom)

Legislation Would Give Consumers 120 Days To Resolve Medical Debts Before Dinging Credit Reports

Consider the following: 1-in-10 insurance claims are processed incorrectly; debt collectors are using account information that may be incomplete, inaccurate and out-of-date; once reported to a credit bureau, medical debt — whether real or erroneous — can do severe damage to your credit score. Perhaps it couldn’t hurt to give consumers a chance to challenge or resolve medical debts before collectors report them to the credit bureaus? [More]

(Alec Peden)

How Bad Credit Keeps People Unemployable, And Why It Shouldn’t

Here’s the thing with credit histories: it’s easy to fall behind on your bills when you don’t have a job. The reduced income (or total lack of income) really works against you. While half of all companies report that they check the credit reports of at least some prospective employees, there isn’t really any solid evidence that correlates bad credit with being a bad employee.  [More]


Green Billing At Macy’s Is Costing Me Lots Of Green

Robert and his wife aren’t poor: they’re currently in the process of buying a vacation home. His wife opened up a Macy’s credit card in order to get an additional discount, because yay for discounts! Robert set up “green” or paperless billing after gaining online access to the account, but it turned out to be more like billess billing: they never saw any bills. Should they have noticed that no bills were coming and checked their spam folders? Maybe. But no bills came. [More]


Consumerist Readers Make The Case For Wiping Paid Medical Debt From Credit Reports

It’s a nightmarish scenario — you pay your credit card bills, car payments and loans all time, but when your credit report arrives… WHAM. Medical debt rears its ugly head and mucks up your life in a real way — even if you pay it. After hearing from one Consumerist reader who was shocked to discover a major dent in his credit score because of one $72 hospital bill, we asked for more stories from our readers to highlight what a very real problem this is. [More]

There's a lot of info on the Internet.

Yesterday someone released the private information of more than a dozen celebrities online, posting their phone numbers, mortgages, and Social Security numbers. Although the word “hack” has been used, it’s a surprisingly very easy process to go from a city’s mortgage registry to a plethora of other personal information. We’ll let Buzzfeed explain. [Buzzfeed]

(Alec Peden)

Bill Would Allow Consumers To Get Free Credit Score When Receiving Free Credit Reports

Right now, U.S. consumers can check each of their three credit reports — from TransUnion, Equifax, and Experian — once a year for free through, but getting your actual credit score will probably cost you. Legislation introduced today seeks to remedy this issue. [More]

(Alec Peden)

Study: Errors Found In As Many As 26% Of Consumers’ Credit Reports

You should really check your credit reports at least once a year. If you don’t believe us, you should check out the results of the Federal Trade Commission’s latest study, which shows just how rife with errors the reports from Experian, Equifax, and TransUnion can be. [More]

Not many people know about The Work Number, but its database covers employees at 90% of federal agencies.

Is Equifax Actually Selling Your Salary Info?

Equifax also operates an employment verification database that contains sensitive employment information for more than 1/3 of all employed Americans. Aside from being a huge pinata just waiting for a hacker’s swing, it’s unclear exactly what info is being sold to third parties. [More]


Who Is Responsible When Your Credit Report Flags You As A Possible Terrorist?

We’ve told you before about consumers who ended up being denied for loans and facing public embarrassment because their credit report included a note that the person might be a terrorist or an international drug trafficker. But no one seems to want to take the blame for when this kind of mistake happens. [More]

(Alec Peden)

Equifax Caught Improperly Selling Lists Of People With Late Mortgage Payments

When you’re in financial trouble, one of your concerns is that your creditors will report you to the three major credit bureaus — Equifax, Experian, and TransUnion. But maybe you should be concerned that the bureaus are selling your sensitive information. [More]

American Express Payment Plans Won't Do Your Credit Any Favors

American Express Payment Plans Won't Do Your Credit Any Favors

Ryan was in a tight spot, and late with the payment on his American Express account. The problem didn’t seem as scary as it could have been, though. The company’s Web interface offered him the opportunity to sign up for a payment plan, so he could pay down the outstanding balance over a period of as long as twelve months. Neat! But the plan didn’t quite have the credit-saving effects that he expected. He was reported to credit bureaus as delinquent during the entire repayment period. That’s how the plan works. [More]

Woman Tries To Buy Car, Gets Flagged As Terrorist

Woman Tries To Buy Car, Gets Flagged As Terrorist

Back in 2005, a woman in Colorado went to buy a car at her local Subaru dealership. Little did she know she’d spend the next five years trying to convince people she was not a Colombian terrorist. [More]

Will My Deadbeat Roommate Trash My Credit?

Will My Deadbeat Roommate Trash My Credit?

A terrible roommate can make your life unhappy in a lot of ways. But let’s say you have a financially irresponsible roommate who never pays their bills. Do their bad habits affect you … other than constantly having to chase down the rent? [More]